Qiao Xing Universal Resources Announces Change of Independent Auditor

Qiao Xing Universal Resources, Inc.

today announced the appointment of Crowe Horwath (

) CPA Limited as its independent registered public accounting firm. The Company's prior auditor was Crowe Horwath LLP. The engagement of Crowe Horwath CPA Limited was approved by the Company's Board on December 12, 2011 and by shareholders at the Company's Annual General Meeting on December 30, 2011. There were no disagreements between Crowe Horwath LLP and the Company during the term of their engagement on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Crowe Horwath LLP, would have caused them to make reference to the subject matter of the disagreements in connection with their report on the Company's financial statements.