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Oct 8, 2008

English Chinese translation samples--Advanced Battery Technologies to Raise(筹资) Additional $9.5 Million in Private Placement

(By freelance Chinese translator li – based in Harbin,China – English to Chinese translation or Chinese to English translation services - website localization)

NEW YORK and HARBIN, China, Aug 18, 2008 (GlobeNewswire via COMTEX) ----Advanced Battery Technologies Inc. (Nasdaq:ABAT) today announced that certain institutional accredited investors have exercised the warrants(认股权证,权证) issued to them on Monday, August 11 to purchase 2,235,302 shares of common stock at a price of $4.25 per share, resulting in gross proceeds(总收入金额) to the company of $9.5 million, before deducting placement agent fees(代理费) and other offering expenses(发行费用). The investors in this private placement(私募配售) will also receive five-year warrants to purchase up to 1,005,884 additional shares of common stock at an exercise price of $5.51 per share.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq:RODM), served as the placement agent(股票发售代理) for the offering.

Proceeds from the financing(筹集资金) will be used primarily for funding expansion of assembly lines(装配线) and other general corporate purposes, including working capital(运营资金) and possible acquisitions(购并活动).

The securities(证券) issued in the private placement have not been registered under the Securities Act(证券管理条例) of 1933, as amended (the "Securities Act"), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement(注册声明) or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The company has agreed to file a registration statement with the Securities and Exchange Commission(美国证券交易委员会) registering the resale of the shares of common stock issued in this private placement and the shares of common stock issuable upon exercise of the warrants issued in this private placement.

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