XI'AN, China, Oct. 30, 2009 (PRNewswire-Asia-FirstCall) -- China Integrated Energy, Inc. (Nasdaq: CBEH; the "Company"), a leading non-state-owned integrated energy company in China, today announced that its public offering of 5,000,000 shares of common stock was priced at $5.75 per share.

The Company anticipates that the net proceeds from the offering will be used for the expansion of its biodiesel production capacity, wholesale distribution and retail gas station businesses and for working capital and general corporate purposes.

Oppenheimer & Co. acted as sole book-running manager for the offering. Cowen and Company and Roth Capital Partners acted as co-managers for the offering.

The offering is being made under the Company's registration statement filed with and declared effective by the U.S. Securities and Exchange Commission. The registration statement is available from the SEC's website at http://www.sec.gov . The offering is being made only by means of a prospectus, filed with the U.S. Securities and Exchange Commission. A copy of the final prospectus relating to the offering may be obtained from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 300 Madison Avenue, 4th Floor, New York, NY, 10017, Telephone number: (212) 667-8563, Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

About China Integrated Energy, Inc.

The Company is a leading non-state-owned integrated energy company in the PRC engaged in three business segments, the wholesale distribution of finished oil and heavy oil products, the production and sale of biodiesel and the operation of retail gas stations. The Company's primary business segment is the wholesale distribution of finished oil and heavy oil products. The Company also operates a 100,000-ton biodiesel production plant and seven retail gas stations in China.

Safe Harbor Statement

This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future use of the proceeds are forward looking and subject to risks. China Integrated Energy, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form S-1, as amended. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus and that will contain detailed information about the company and management, as well as financial statements.

    For more information, please contact:

China Integrated Energy, Inc.
Alex Gong, VP of Capital Market
Tel:   +86-136-0127-9912
Email: 
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Web:   http://www.cbeh.net.cn

HC International, Inc.
Ted Haberfield, Executive VP
Tel:   +1-760-755-2716
Email: 
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SOURCE China Integrated Energy, Inc.