Apollo Solar Energy, Inc. Strengthens Board with Appointment of Independent Directors

March 12, 2009

CHENGDU, China, March 12 /PRNewswire-Asia-FirstCall/ — The Board of
Directors of Apollo Solar Energy, Inc., (OTC Bulletin Board: ASOE; “Apollo
Solar Energy” or “the Company”), a leading vertically integrated miner,
refiner and producer of tellurium (Te) and high-purity tellurium based metals
for specific segments of the global electronic materials market, today
announced the appointment of two independent directors, Mr. Elliot M. Maza and
Mr. James M. Lee, effective as of March 4, 2009. Mr. Maza has also been
appointed to serve as the chairman of the Company’s Audit Committee.

Mr. Elliot M. Maza, JD, CPA, aged 53, has served as Executive Vice
President and Chief Financial Officer of Intellect Neurosciences, Inc., a
development stage biopharmaceutical company, since May 2006. From December
to May 2006, Mr. Maza was Chief Financial Officer of Emisphere
Technologies, Inc., a company specializing in oral drug delivery. Mr. Maza was
previously a partner at Ernst and Young LLP and a Vice President at Goldman
Sachs, Inc. and JP Morgan Securities, Inc. From September 1985 to April 1989,
Mr. Maza practiced law at Sullivan and Cromwell LLP in New York. From December
to May 2008, Mr. Maza served on the Board of Directors and was Chairman
of the Audit Committee of Tapestry Pharmaceuticals, Inc., a listed development
stage company focused on developing proprietary therapies for the treatment of
cancer. Mr. Maza received his J.D. degree from University of Pennsylvania Law
School in 1985. Mr. Maza is a licensed CPA in the State of New Jersey and the
State of New York.

Mr. James M. Lee, aged 62, previously served at Intel Corporation for 21
years and has 30 years working experience in the semiconductor industry.
During his tenure at Intel, Mr. Lee successfully led a professional team
developing leading edge DRAMs and the world’s first commercial flash memories.
Mr. Lee was also the Director of Intel’s California Technology Lab. Before his
retirement Mr. Lee served as General Manager of Intel’s manufacturing
subsidiary in Shanghai. Mr. Lee received his bachelor and master degrees
majoring in Electronic Engineering from University of Illinois and Syracuse
, respectively. Mr. Lee is in possession of five US patents in the
semiconductor field.

“I have a great deal of respect for Mr. Lee and Mr. Maza as persons, as
well as for their varied business and professional background,” said Mr. Renyi
, Chief Executive Officer of Apollo Solar Energy, “Our tellurium business
is making excellent progress, and the market of natural power energy has
tremendous potential. I believe Mr. Maza and Mr. Lee will bring valuable
real-world insight and strategic thinking which are significantly helpful for
our business operations, and ensure that we meet the high standard of
corporate governance necessary to be listed on a senior U.S. exchange.”

About Apollo Solar Energy, Inc.

Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan
Apollo Solar S&T Co., Ltd., is primarily engaged in mining, refining and
producing tellurium (Te) and high-purity tellurium based metals for specific
segments of the global electronic materials market. The Company’s products
include CdTe thin-film compounds, CIGS thin-film compounds, Ultra- high purity
metals, and commercial-purity metals.

Safe Harbor Statement

The statements contained herein that are not historical facts are
“forward-looking statements” within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements may be
identified by, among other things, the use of forward-looking terminology such
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particular, our statements regarding the potential growth of the markets or
forecasting financial results are examples of such forward-looking statements.
The forward-looking statements include risks and uncertainties, including but
not limited to, general economic conditions and regulatory developments, not
within our control. The factors discussed herein and expressed from time to
time in our filings with the Securities and Exchange Commission could cause
actual results and developments to be materially different from those
expressed or implied by such statements. The forward-looking statements are
made only as of the date of this filing, and we undertake no obligation to
publicly update such forward-looking statements to reflect subsequent events
or circumstances.

SOURCE Apollo Solar Energy, Inc.

Source: newswire

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