Qiao Xing Mobile Communication Not Involved With Trading Halt in Qiao Xing Universal Resources

Qiao Xing Mobile Communication Co., Ltd. QXM noted that the trading in Qiao Xing Universal Resources, Inc. XING, its controlling shareholder, was halted yesterday by the NASDAQ Stock Market pending the provision of "additional information requested" by XING. The NASDAQ Stock Market's website stated that trading in XING's shares will remain halted until XING has fully satisfied the NASDAQ Stock Market's request for additional information. While the release of further information by XING is pending, the board of directors and management of QXM would like to clarify that, to their knowledge, the trading halt of XING is not related to QXM or QXM's business or transactions, any of QXM's subsidiaries or any of their respective bank accounts. XING, a public company listed on the Nasdaq Global Market, is the parent company and the controlling shareholder of QXM, and holds approximately 55.6% of the equity interests in QXM. Mr. Zhiyang Wu, the Chairman and Chief Executive Officer of QXM, also serves as the Chairman and Chief Executive Officer of XING.