China Gerui Advanced Materials Group Limited Announces Share Repurchase Update

China Gerui Advanced Materials Group Limited

today provided an update of its share repurchase program. As of the market close on Friday, June 15, 2012, the Company has repurchased 1,423,101 of its ordinary shares at an average price of $3.58 per share for a total repurchase price of $5,090,919. "The continued execution of our share repurchase program reflects confidence in our Company and our view that the Company's public equity is undervalued at current equity market levels," said Mr. Mingwang Lu, Chairman and Chief Executive Officer. "We anticipate sound long-term growth prospects for our business and view share repurchases as an important element in our ongoing commitment to maximize the long-term value of our company for our shareholders."