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NF Energy Saving Corporation Announces $43.9 Million Energy Management Contract

Recurring Revenue Contract Extends over 15 Years

SHENYANG, China, September 1st /PRNewswire-Asia/ -- NF Energy Saving Corporation (OTC Bulletin Board: NFEC; "NF Energy"), a Chinese leader in energy efficient flow control systems, announced the Company executed a 15 year, U.S. $43.9 million Energy Management Contract (EMC) with a large hospital in Shenyang.

Currently, the hospital has an annual energy consumption expense of RMB30 million (US$4.39 million). NF Energy will provide management and technological expertise in the reconstruction of the hospital's lighting, elevator, air-conditioner, boiler, and hot water systems. The energy audit has been completed and reconstruction has begun.

"We are very pleased to be able to assist with the modernization of such an important, large public institution. This multi-year project will allow us to recognize a meaningful revenue stream for the coming years. The NF Energy management team is working towards other long term recurring revenue contracts to enhance our current project oriented business model," commented Mr. Gang Li, Chairman and CEO of NF Energy.

About NF Energy Saving Corporation

Website: http://www.nfenergy.com

NF Energy Saving Corporation (OTCBB:NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. Headquartered in Shenyang city of China, the Company currently has 220 employees and several proprietary energy saving technologies and patents.

Safe Harbor Statement

This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:
Howard Gostfrand
American Capital Ventures
Tel: +1-305-918-7000
Email: info@amcapventures.com
www.amcapventures.com
SOURCE:NF Energy Saving Corporation