APWRU A-Power Energy Generation Sys (MM)

A-Power Energy Generation Systems (NASDAQ:APWR) (NASDAQ:APWRW) (NASDAQ:APWRU) ("A-Power"), today announced that it is sending out redemption notices to all of the holders of its issued and outstanding callable common stock purchase warrants. Proceeds from the warrant redemption will be used for, among other things, the financing of its previously announced new production plant and its previously announced acquisition. The final redemption date for the warrants will be March 24, 2008. After the redemption date, holders of warrants who have not exercised them will be paid $0.01 per warrant, and the warrant will be extinguished. The right of A-Power to call these warrants is the result of the fact that the company's common shares have closed at a price of $8.50 or more for at least 20 of 30 trading days prior to the notice of redemption being sent to the warrant holders. The closing price of the common shares on February 20, 2008 was $19.50. The common stock purchase warrants were originally issued by Chardan South China Acquisition Corp. in August 2005. As a result of the merger of Chardan South and A-Power, the warrants are now exercisable into common shares of A-Power. Prior to March 24, 2008, holders of the warrants may exercise them for common shares by sending the warrants, together with payment in full of $5.00 per warrant, to A-Power�s stock transfer agent, Continental Stock Transfer and Trust Company. About A-Power A-Power Energy Generation Systems, Ltd., formerly Chardan South China Acquisition Corp., through its PRC operating subsidiary, Liaoning GaoKe Energy Group Co., Ltd., is the largest provider of distributed power generation systems in China and will enter into China�s wind energy market in 2008. The Company is also focused on developing and commercializing additional renewable energy technologies and has strategic relationships with both Tsinghua University and the China Sciences Academy in Guangzhou.