Longwei Petroleum Announces Appointment of New Chief Financial Officer

Author: Mendoza College

Longwei Petroleum Investment Holding Ltd. announced today that Michael Toups has joined the Company as Chief Financial Officer , as of June 23, 2010. Mr. Toups, who is succeeding James Crane, will have overall leadership responsibility for the Company's finance and control functions.

"We are very excited to welcome Michael to our senior management team," said Cai Yongjun, Chairman and CEO of Longwei. "At this crucial point in our company's development, his extensive financial and leadership expertise, as well as his knowledge of Chinese business practices, will be invaluable in executing our aggressive growth strategy. We hope to leverage Michael's proven success in both domestic and international management and benefit from his strategic input as we continue expanding our business."

Mr. Toups is an accounting and corporate finance executive with 20 years of experience in senior business management and specialties in business strategy, M&A and international trade. He has middle-market corporate finance experience across a variety of industries as both principal and advisor and has served as the COO, CFO, and Director of publicly traded companies. His expertise includes PCAOB audits, SEC reporting and Sarbanes-Oxley compliance. Mr. Toups is also well-versed in Chinese business practices and has directed strategic business planning for Asia-based companies. Mr. Toups holds an MBA in Finance from the University of Notre Dame and a BBA in Finance from Texas Christian University.

Mr. Toups stated, "I am proud to be a part of the Longwei team. This company is extremely well-positioned for both short-term and long-term expansion and growth. As a fuel distributor with 120,000 metric tons of storage capacity and operations in one of the fastest industrial growth provinces in China, we are poised to become the dominant non-government-owned fuel distributor in the Shanxi Province."

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