Hanwei Energy Services Corp. Signs International Cooperation Agreement



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

    VANCOUVER, March 19 /CNW/ - Hanwei Energy Services Corp. ("Hanwei") is
pleased to announce that Daqing Harvest Longwall High Pressure Pipe Co. Ltd.
("Harvest"), its 82.15% owned subsidiary, has signed an Exclusive Cooperation
Agreement (ECA) with China Petroleum Technology and Development Corporation
(CPTDC). CPTDC is a wholly owned subsidiary of China National Petroleum Corp.
(CNPC) - a state-owned entity and parent company of (i) Daqing Oil Management
Bureau which in turn owns Daqing Changyuan Investment Co. Ltd. (a 17.85% Joint
Venture partner in Harvest) and (ii) Petrochina Co. Ltd. - a major Chinese oil
and gas company listed on the New York Stock Exchange (NYSE:   PTR).
    Under the ECA Harvest and CPTDC will cooperate to develop markets for
Harvest's FRP products in Kazakhstan and other Commonwealth of Independent
States (including: Azerbaijan, Armenia, Belarus, Georgia, Kyrgyzstan, Moldova,
Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine); also Indonesia,
India, Saudi Arabia, Aman, and Peru for an initial period of two years. The
ECA is a mutually exclusive agreement for the designated countries such that
Harvest cannot sell through any other distributor and CPTDC cannot sell FRP
products from any other supplier (unless Harvest does not offer a similar
product).
    CPTDC is the largest supplier of Chinese petrochemical materials and
equipment with 35 overseas offices in 24 countries. CPTDC offers a full range
of upstream and downstream petroleum products and services with annual revenue
of approximately US$ 1 billion.
    "This agreement will assist Hanwei to expand international sales using
the infrastructure and relationships of CPTDC", said Fulai Lang, President and
CEO of Hanwei, "As CNPC has been our largest customer in China, this agreement
marks an exciting development in our relationship as operating partners and
indicates that they have confidence in the quality and value of our FRP
products."
    As previously disclosed in December of 2006, Hanwei acquired 82.15% of
Harvest. The remaining 17.85% equity interest in Harvest is owned by the
Company's joint venture partner, Changyuan Investment Co. Ltd., a subsidiary
of Daqing Oil Management Bureau which is owned by CNPC.

    THE TSX VENTURE EXCHANGE HAS IN NO WAY PASSED UPON THE MERITS OF
    THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE
    CONTENTS OF THIS PRESS RELEASE.

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any securities of Hanwei Energy Services Corp.in the United
States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, or any state securities laws
and may not be offered or sold within the United States or to U.S. persons
unless registered under the United States Securities Act of 1933 and
applicable state securities laws, or an exemption from such registration is
available. Any public offering of securities in the United States must be made
by means of a prospectus that contains detailed information about the Company
and its management, as well as financial statements.

    FORWARD LOOKING INFORMATION

    Certain information in this news release, in various filings with
Canadian regulators, in reports to shareholders and in other communications,
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 expectations as to financial results for the year
ended December 31, 2006, 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 March 16, 2007.
    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, the
Company's ability to deliver its products in a timely manner, reliance on two
major customers, the non-renewal of contracts which expire in the near term,
complexities and timing of signing large customer contracts, the limited time
to capitalize on market opportunities, competition, pricing pressures,
fluctuations in its operating results, its ability to make and integrate
acquisitions, failures or material changes in its strategic relationships,
exposure under contract indemnities or defects in products, its ability to
attract and retain key personnel, 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 intended benefits of the
Cooperation Agreement may not be achieved.
    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 made
certain assumptions regarding the timing of the realization of certain
opportunities which it thinks is reasonable but which may not be achieved.
Furthermore, the pursuit of these opportunities does not ensure a linear
progression of the Company's revenue and earnings, since they may involve
significant up-front expenditures. 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 Filing Statement dated November 23,
2006 and filed with Canadian securities regulators.

    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS
THE EXPECTATIONS OF HANWEI ENERGY SERVICES CORP. AS OF MARCH 16, 2007 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, Chief Financial Officer, (416)
804-9228, koishi@hanweienergy.com

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HANWEI ENERGY SERVICES CORP.

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