China Redstone Group, Inc. Appoints S. Michael Rudolph and Lihua Zhang to Its Board of Directors

CHONGQING, China, April 14 /PRNewswire/ -- China Redstone Group, Inc. (OTC Bulletin Board: CGPI) ("China Redstone" or the "Company"), the largest private provider of cemetery products and services in Chongqing, China, announced today that it has appointed Mr. S. Michael Rudolph, a 30-year veteran in the financial services industry, and Mr. Lihua Zhang, an experienced hydropower industry executive and engineer with strong local government relations, to its board of directors effective April 1, 2010. With the appointment of Mr. Rudolph and Mr. Zhang, the Company's board of directors was increased from four to six, including three independent members. Mr. Rudolph and Mr. Zhang, similar to the other board members, were appointed to a term that expires at the 2012 annual meeting of stockholders.

"We are pleased to welcome Michael and Lihua to our board of directors and look forward to the valuable insight and perspective they will bring in their respective areas of expertise as we continue to make the transition to being a publicly traded company, and as we pursue our growth strategy to become a recognized leader in China's cemetery industry," said Mr. Yiyou Ran, chairman of the board of China Redstone. "We appreciate their commitment and confidence in our company."

Mr. Rudolph is the founder, chief financial officer and managing member of Viking Asset Management, LLC, the investment adviser to the Longview Fund, LP and Longview Fund International, Ltd (BVI). Previously, Mr. Rudolph was the founder and president of The Edgehill Group, Inc., a financial advisory and consulting practice. Prior to founding Edgehill, Mr. Rudolph held senior management positions within Charles Schwab's Institutional Trading Division, Bank of America and Wells Fargo Bank. Mr. Rudolph has served on several boards, including ElectroSource, LLC and the Stanford University Medical Center Stroke Advisory Board. Mr. Rudolph has qualified for registration with the National Association of Securities Dealers as an investment advisor. He received his BS degree in Biochemistry from Purdue University and has an MBA from Washington University in St. Louis.

Mr. Lihua Zhang serves as the chairman of Songyuan Hydropower Plant, Bo Gong Ken Hydropower Plant and Huaxi Hydropower Plant. In addition to serving as chairman of these three plants, Mr. Zhang is also responsible for investment, design and construction of the plants. Mr. Zhang also serves as vice chairman of Zhejiang Commercial Association, where he is responsible for relations between the Zhejiang Commercial Association and other government agencies in other provinces, including Taiwan and Hong Kong. Mr. Zhang also has served as a member of Political Consultant Conference in Songxi, Fujiang province and has directly assisted the local government in attracting a large number of enterprises resulting in increased local tax revenue and job creation. Mr. Zhang worked as a manager at the Yuan Kou Reservoir, where he constructed more than five hydropower plans and obtained the certificate of senior hydropower engineer. Mr. Zhang received his professional degree from Hangzhou Water Resources and Hydropower Professional School.

China Redstone Group, Inc.

China Redstone Group, Inc. is a cemetery developer and provider of cemetery products and services in Chongqing, China through its contractually controlled affiliate Chongqing Foguang Tourism Development. Founded in 2002, the Company provides a complete range of funeral merchandise and services, including cemetery property, both at the time of need and on a preneed basis. Its cemeteries are highly regarded in terms of a number of factors such as tradition, reputation, physical size, capacity of business, available supply, name recognition, aesthetics and potential for development or expansion.  

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

SOURCE China Redstone Group, Inc.