Hanwei secures debt facility with China Construction Bank



    --RMB560million facility to fund growth of wind power and FRP pipe--

    TSX: HE

    VANCOUVER, May 14 /CNW/ - Hanwei Energy Services Corp. ("Hanwei" or the
"Company") is pleased to announce that it has arranged a RMB560 million ($95.1
million) credit facility (the "Facility") with the China Construction Bank
with a term of two years. The Facility will be secured with sales orders,
accounts receivables, or guarantees from three of the Company's operating
subsidiaries and be used to fund working capital, international trade and
investment in fixed assets to support the Company's FRP pipe and wind power
equipment business lines. Hanwei's subsidiaries will draw down the credit
lines as needed, subject to meeting credit requirements at the time of the
draw down as assessed by the local branch, with interest rates to be set on
each draw down based on prevailing market rates.
    "This debt facility is expected to provide the funding that Hanwei needs
to achieve its target of 40 percent to 60 percent revenue growth in 2009,
without the need for equity," said Fulai Lang, President and CEO of Hanwei.
"The Facility is a testament to Hanwei's track record of profitable growth and
strong banking relationships in China."

    FORWARD-LOOKING INFORMATION

    Certain information in this press 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 the arrangement of the
Facility, the use of proceeds from the Facility, the availability of draw
downs as required, the terms of each draw down, the expected revenue growth
for 2009 and the funding required for such growth. The forward-looking
information is based on certain assumptions, which could change materially in
the future, including the assumption that formal contracts will be entered
into among the parties. The forward-looking information in this press release
describes the Company's expectations as of the date of this press release. The
results or events anticipated or predicted in such forward-looking information
may differ materially from actual results or events. Material factors or risks
which could cause actual results or events to differ materially from a
conclusion in such forward-looking information include the risk that the draw
downs are subject to the assessment, approval and discretion of the
Construction Bank of China, the credit lines may not be available at the time
required, the credit requirements at the time of a draw down may not be met,
the Facility may not provide all of the funding that the Company requires to
achieve its growth targets , the Company may be required to seek equity
funding, as well as the risks set out in the risk factors section of the
Company's Annual Information Form dated March 31, 2009 for the year ended
December 31, 2008 and the Company's press releases issued subsequent thereto,
all as filed with Canadian securities regulators and available on SEDAR at
www.sedar.com.

    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE PRESENTS
THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS 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, THE COMPANY
DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT
AS REQUIRED BY APPLICABLE SECURITIES LEGISLATION.





For further information:

For further information: Kim Oishi, SVP of Finance and Business
Development, (416) 804-9228, koishi@hanweienergy.com; Kevin O'Connor, Investor
Relations, (416) 962-3300, ko@spinnakercmi.com

Organization Profile

HANWEI ENERGY SERVICES CORP.

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