CESV China Energy Savings Technology (MM)

OKLAHOMA CITY, May 3 /PRNewswire/ -- On May 1, 2006, a class action lawsuit was filed in the United States District Court for the Southern District of New York against China Energy Savings Technology, Inc. (NASDAQ:CESV). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b- 5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from April 21, 2005 through February 15, 2006. Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Friday, June 30, 2006, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995. If you wish to discuss this action, participate in this or any other lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact: William B. Federman FEDERMAN & SHERWOOD 120 N. Robinson, Suite 2720 Oklahoma City, OK 73102 (405) 235-1560/FAX: (405) 239-2112 Email to: - http://www.federmanlaw.com/ DATASOURCE: Federman & Sherwood CONTACT: William B. Federman of Federman & Sherwood, +1-405-235-1560, or fax, +1-405-239-2112, or Web site: http://www.federmanlaw.com/

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