Longwei Petroleum Announces Third Quarter Fiscal Year 2010 Financial Results Conference Call

TAIYUAN CITY, China, May 14 /PRNewswire-Asia-FirstCall/ — Longwei
Petroleum Investment Holding Ltd. (OTC Bulletin Board: LPIH) (“Longwei”) will
hold a conference call May 17th to discuss financial results for the third
quarter of fiscal year 2010 ended March 31, 2010. The conference call is
scheduled for Monday, May 17, 2010 at 1:00 p.m. Eastern time (10:00 a.m.
Pacific). Earnings will be released pre-market on the morning of May 17, 2010.

To participate in the call please dial (877) 545-1407, or (719) 325-4758
for international calls, approximately 10 minutes prior to the scheduled start
time. Interested parties can also listen via a live Internet webcast, which
can be found via the Company’s website at http://www.longweipetroleum.com , or
alternately at http://ViaVid.net .

A replay of the call will be available for two weeks from 4:00 p.m. EDT on
May 17, 2010, until 11:59 p.m. EDT on May 31, 2010. The number for the replay
is (888) 203-1112, or (719) 457-0820 for international calls; the passcode for
the replay is 4537973. In addition, a recording of the call will be available
via the company’s website at http://www.longweipetroleum.com for one year.

About Longwei Petroleum Investment Holding Limited

Longwei Petroleum Investment Holding, Limited (the “Company”) is an energy
company that, through its subsidiaries, engages in oil and gas operations in
the People’s Republic of China (“PRC”). Oil and gas operations consist of
transporting, marketing and selling finished petroleum products. The Company’s
headquarters and primary facilities are located in Taiyuan City, Shanxi
Province (“Shanxi”). The Company’s second facility is located in Gujiao,
Shanxi. The Company purchases diesel, gasoline, fuel oil and kerosene (the
“Products”) from various petroleum refineries in the PRC. The Company is 1 of
3 licensed intermediaries in Taiyuan City and the sole licensed intermediary
in Gujiao that operates its own large scale storage tanks. The Company has the
necessary licenses to operate and sell Products not only in Shanxi but
throughout the entire PRC. The Company’s storage tanks have the largest
storage capacity of any non-government operated entity in Shanxi. The Company
seeks to earn profits by selling its Products at competitive prices to
large-scale gas stations, coal plants, other power-supply customers and small,
independent gas stations. The Company also earns revenue by acting as a
purchasing agent for other intermediaries in Shanxi and through the sale of
diesel and gasoline at gas stations located at each of the Company’s
facilities. The sales price and the cost basis of the Company’s products are
largely dependent on regulations and price control measures instituted and
controlled by the PRC government as well as the price of crude oil. The price
of crude oil is subject to fluctuation due to a variety of factors, all of
which are beyond the Company’s control.

For further information on Longwei Petroleum Investment Holding Limited,
please visit http://www.longweipetroleum.com . You may register to receive
Longwei Petroleum Investment Holding Limited’s future press releases or
request to be added to the Company’s distribution list by contacting Dave
Gentry at info@redchip.com.

    For more information, please contact:

    At the Company:

     Jim Crane, Chief Financial Officer
     U.S. Office: +1 617 699 6325
     P.R.C. Tel:  +86 186 0125 0891

    Investor Relations:

     Dave Gentry
     RedChip Companies, Inc.
     Tel: +1-407-644-4256, Ext. 104

     Alexander Nachman
     Tel:   +1-407-644-4256, Ext. 118
            +1-800-733-2447, Ext. 118
     Email: info@redchip.com
     Web:   http://www.RedChip.com

SOURCE Longwei Petroleum Investment Holding, Ltd.