Keyuan Petrochemicals Receives Three Patent Notices from Patent Office

    Keyuan Petrochemicals Receives Three Patent Notices from Patent Office

PR Newswire

NINGBO, China, March 5, 2013

NINGBO, China, March 5, 2013 /PRNewswire-FirstCall/ --Keyuan Petrochemicals
Inc. (OTCQB: KEYP), ("Keyuan" or the "Company" or "we", "us"), an independent
manufacturer and supplier of various petrochemical products in China, today
announced that the Company received three patent notices from the Patent
Office of China regarding inventions related to the production process of
Acrylonitrile.

In January 2012, Keyuan signed a cooperation agreement with Fangchenggang City
to build a new petrochemicals production facility, Guangxi Keyuan New
Materials Industrial Park, in Guangxi Province (the "Guangxi Project"). Once
the facility is fully operational, it is expected to have annual production
capacity of 400,000 metric tons of Acrylonitrile Butadiene Styrene (the "ABS")
and related products. Keyuan has been focused on the complex pre-construction
government approval work and on research to improve the efficiency of the
production of Guangxi Project since the signing of the agreement.

While working with East China University Of Science and Technology (ECUST),
the Company discovered the technique to improve recovery rate and output
capacity of Acrylonitrile. Based on that discovery, the Company applied for
patents for three devices in the production process in August, 2012, which are
Fluidization Reaction System of Acrylonitrile, Cooler of Acrylonitrile Gas and
Absorption Tower of Acrylonitrile. These three technology inventions are used
for improving the output capacity and recovery rate, decreasing discharge
waste to improve production efficiency. The Company has now received the
patent notices from Patent Office, which means its application has been
approved.

"We are pleased that we can improve the production technology of
Acrylonitrile, which will make our production efficiency better than those not
in possession of such technology in the market, thereby further improving our
competitive strength," said Mr. Chunfeng Tao Chairman and Chief Executive
Officer of Keyuan Petrochemicals Inc. "Acrylonitrile is also one of main raw
materials needed to produce ABS, therefore, this technology invention will be
beneficial for the whole project."

About Keyuan Petrochemicals, Inc.

Keyuan Petrochemicals, Inc., established in 2007 and operating through its
wholly-owned subsidiary, Keyuan Plastics, Co. Ltd., is located in Ningbo,
China and is a leading independent manufacturer and supplier of various
petrochemical products. Having commenced production in October 2010, Keyuan's
operations include an annual petrochemical manufacturing design capacity of
720,000 MT for a variety of petrochemical products, with facilities for the
storage and loading of raw materials and finished goods, and a technology that
supports the manufacturing process with low raw material costs and high
utilization and yields. In order to meet increasing market demand, Keyuan
plans to expand its manufacturing capacity to include a SBS production
facility which was completed in September 2011. One SBS production line began
commercial production in December 2011 and the second line began commercial
production in August, 2012.The Company plans to add additional storage
capacity, a raw material pre-treatment facility, an asphalt production
facility, and an ABS production facility.

Cautionary Statement Regarding Forward-Looking Information

This press release may contain certain "forward-looking statements" relating
to the business of Keyuan Petrochemicals, Inc., and its subsidiary companies.
All statements, other than statements of historical fact included herein are
"forward-looking statements" including statements regarding the impact of the
proceeds from the private placement on the Company's short term business and
operations, the general ability of the Company to achieve its commercial
objectives, including the ability of the Company to sustain growth; the
business strategy, plans and objectives of the Company and its subsidiaries;
and any other statements of non-historical information. These forward looking
statements are often identified by the use of forward-looking terminology such
as "believes," "expects" or similar expressions, involve known and unknown
risks and uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may prove to be
incorrect. Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The
Company's actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that are filed
with the Securities and Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable to the
Company or persons acting on its behalf months are expressly qualified in
their entirety by these factors. Other than as required under the securities
laws, the Company does not assume a duty to update these forward-looking
statements.

For more information, please contact:

US Contact Information:

Jim Jiang
Keyuan Petrochemicals, Inc
Phone: 1-646-705-1386
Email: jzm0580@gmail.com
Web: www.keyuanpetrochemicals.com

Company Contact Information:

Angel Gu
Keyuan Petrochemicals, Inc
Phone: +0086-1-381-986-4827
Email: angelgu@keyuanpetrochemicals.com
Web: www.keyuanpetrochemicals.com

SOURCE Keyuan Petrochemicals, Inc.

Website: http://www.keyuanpetrochemicals.com
 
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