Hanwei announces an increase in the Over-Allotment Option to its bought deal private placement



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TSX.V: HE

    VANCOUVER, June 5 /CNW/ - Hanwei Energy Services Corp. (the "Company")
announces that the Company has agreed with the syndicate of underwriters led
by Canaccord Capital Corporation and including GMP Securities L.P. and
Research Capital Corporation (collectively, the "Underwriters") to increase
the size of the Underwriters' option (the "Over-Allotment Option") to purchase
additional special warrants of the Company (the "Special Warrants") by
1,000,000 to 2,000,000 Special Warrants in connection with the bought deal
private placement which was announced earlier today (the "Offering"). Gross
proceeds of $35,000,000 or up to $45,000,000 (if the Over-Allotment Option is
exercised in full) will be raised under the Offering. The Offering is
effectively a private placement offering of a minimum of 7,000,000 Special
Warrants and a maximum of 9,000,000 Special Warrants. Each Special Warrant is
exercisable, at no additional cost, into one common share of the Company. All
terms and conditions relating to the Offering, except for this increase in the
Over-Allotment Option, remain the same as set forth in the news release dated
June 5, 2007 of the Company.
    The net proceeds of the Offering will be used to fund the development and
manufacture of products for the wind power market and for general working
capital.
    The Offering is expected to close on or about June 21, 2007 and is
subject to the receipt of all necessary regulatory approvals.

    THE TSX VENTURE EXCHANGE NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF
THIS NEWS RELEASE. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR
THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. THE
SECURITIES REFERRED TO IN THIS NEWS RELEASE WILL NOT AND HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS.

    FORWARD LOOKING INFORMATION

    Certain information in this news release is forward-looking within the
meaning of certain securities laws, and is subject to important risks,
uncertainties and assumptions. This forward-looking information includes,
among other things, information with respect to management's estimates of
capital requirements, as well as information with respect to the Company's
beliefs, plans, expectations, anticipations, estimates and intentions. The
words "may", "could", "should", "would", "suspect", "outlook", "believe",
"anticipate", "estimate", "expect", "intend", "plan", "target" and similar
words and expressions are used to identify forward-looking information. The
forward-looking information in this news release describes the Company's
expectations as of the date of this news release.
    The results or events anticipated or predicted in such forward-looking
information may differ materially from actual results or events. Material
factors which could cause actual results or events to differ materially from a
conclusion, forecast or projection in such forward-looking information
include, among others: general economic factors, adverse industry events, its
ability to make and integrate acquisitions, industry and government
regulation, risks associated with integrating new production lines, risks
associated with entering new product lines and markets, risks associated with
establishing new production facilities and the potential for costs over-runs
or delays associated with construction, risks that the Company may be unable
to procure needed capital for its growth plans, risks that the Company may not
be able to obtain licenses for technology needed for its expansion plans on
terms that are acceptable to the Company and risks that the Company may not
proceed or close the Offering or any other financings.
    The Company cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking information to make
decisions, investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. The Company has assumed
a certain progression, which may not be realized. It has also assumed that the
material factors referred to in the previous paragraph will not cause such
forward-looking information to differ materially from actual results or
events. However, the list of these factors is not exhaustive and is subject to
change and there can be no assurance that such assumptions will reflect the
actual outcome of such items or factors. For additional information with
respect to certain of these and other factors, refer to the risks and
uncertainties section of the Company's management's discussion and analysis
dated May 15, 2007 and its news release dated June 1, 2007, both filed with
Canadian securities regulators, which is available on SEDAR at www.sedar.com.

    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. HOWEVER, THE COMPANY
EXPRESSLY DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY
FORWARD-LOOKING INFORMATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE
EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY APPLICABLE LAW.





For further information:

For further information: Kim Oishi, Vice President, Finance and Business
Development, (416) 804-9228, koishi@hanweienergy.com

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HANWEI ENERGY SERVICES CORP.

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