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An Fengbin, Chairman, CEO and President of Andatee China Marine Fuel Services, purchased 9,050 shares in the company yesterday, December 1st, at an average price of US$5.32 per share.

Mr An has now purchased a total of 24,374 shares in the company since November 23rd. Please find a list below of his recently reported Andatee trades.

- An Fengbin bought 8,400 shares of Andatee stock on November 29th at the average price of US$5.22.

- An Fengbin bought 3,462 shares of Andatee stock on November 23rd at the average price of US$5.21.

- An Fengbin bought 3,462 shares of Andatee stock on November 23rd at the average price of US$5.25

Andatee is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in Northern China. The company has a market capitalization of US$52.9 million.

During the third quarter of 2010, Andatee's net profit rose by 73.5 percent to $2.6 million. Revenues for the third quarter were $57.5 million, which represented an increase of approximately 78.5 percent compared with $32.2 million during the same period in 2009. The increase was said to be due to an 82 percent increase in sales volumes and to a higher average crude oil price in the marketplace.

Last month the company announced that its board of directors had approved and adopted a share repurchase plan. The plan, which authorizes a buyback of the company's common stock up to a value of $0.5 million, is valid up until October 2011.

Mr An, a 10 percent owner, is the founder of Andatee's bunker supply business Dalian Xing Yuan Marine Fuel Co. Ltd..

Previously, he worked in the Credit and Loan Department of China Agricultural Bank as Deputy Director of its Corporate Department. He then joined Dalian Zhenyuan Oil Blending Co., Ltd. as General Manager in 1996 and established a joint venture with China's largest oil and gas producer and supplier, China National Petroleum Corporation (CNPC).

Dalian Xing Yuan Marine Fuel Co., Ltd. was founded in 2001. The company's main focus has been on supplying 180-centistoke (cst) and 120-cst fuel to small and medium-sized fishing vessels and cargo ships in the provinces of Liaoning, Shandong and Zhejiang.

The company sources its petroleum products mainly from the Dalian Petrochemical Branch China National Petroleum stock company and other local refineries.

At the start of 2010, the company said it was supplying over 250,000 tonnes per year in Dalian to customers such as Dalian Shipping Ring Group and Sinopec. Its short term goal was to achieve annual sales of 350,000 tonnes by 2012 and it set itself a long-term objective of selling between 500,000 tonnes and 1 million tonnes per year, achieving an annual sales income of 4 billion Yuan and becoming a major fuel oil player in northeastern China.

During the third quarter of 2010 total sales volumes rose by 82 percent to 86,000 tonnes, up from 47,000 tonnes in the corresponding quarter last year.