Liuyang Fireworks Changes Fiscal Year End Reporting Period

TORONTO, May 30, 2011 /CNW/ - Liuyang Fireworks Limited (TSXV: FWK) announces it will change its fiscal year end to June 30 from the current fiscal year end of December 31.

The change in year end has been made to better align Liuyang Fireworks' financial reporting, tax planning, and business cycles with customers and suppliers.

The change takes effect immediately and therefore Liuyang Fireworks will report transitional fiscal 2011 financial results for the six-month period ending June 30, 2011. The first full fiscal period will be for the twelve months ended June 30, 2012.

About Liuyang Fireworks Limited

Liuyang Fireworks Limited is a leading China-based manufacturer of consumer fireworks that are distributed domestically and in more than 15 countries in North America, South America and Europe. The Company has more than 16 years of experience in the fireworks industry and is a supplier to the world's top five fireworks wholesalers and retailers. Liuyang's ISO9001-certified manufacturing facilities are located in the Liuyang area of Hunan, China where more than half of the world's fireworks are produced.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities legislation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Liuyang Fireworks Limited

For further information:

Jacky Long
Chief Financial Officer
Liuyang Fireworks Limited
Tel : 416-613-0208 ext 206
jackylong@farocean.com

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Liuyang Fireworks Limited

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