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Andatee China Marine Fuel Services Corporation, a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China, has today announced that it has received a loan from the Bank of Yingkou for a period of six months.

The Bank of Yingkou has lent RMB 60 million (approximately USD 8.84 million) to Andatee as of September 2, 2010, with an interest rate of approximately 6% for a period of six months.

The company said it plans to use the loan for general corporate and working capital purposes as well as its ongoing acquisition activities as it seeks to establish what it refers to as a 'one-stop depot service' along the Chinese coast.

"We're pleased with the foregoing bank loan arrangement as well as the confidence that local banks have shown in the company, especially under current credit-tightening circumstances," commented Mr. An Fengbin, Chairman, President and CEO of Andatee China Marine Fuel Services Corporation.

"This loan, along with future more active involvement from other local banks will allow Andatee to vigorously pursue the expansion of footprints along the coastal areas as well as more market opportunities for its marine fuel products," Mr. An concluded.