Sutor Technology Group Limited Won Two Bids Valued at Approximately $4 Million to Supply Spiral Seam Steel Pipes for Two Water

Sutor Technology Group Limited Won Two Bids Valued at Approximately $4 Million
to Supply Spiral Seam Steel Pipes for Two Water Transmission Pipeline Projects

PR Newswire

CHANGSHU, China, April 25, 2013

CHANGSHU, China, April 25, 2013 /PRNewswire-FirstCall/ -- Sutor Technology
Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR), a leading China-based
manufacturer and distributor of high-end fine finished steel products and
welded steel pipes used by a variety of downstream applications, today
announced its subsidiary Ningbo Zhehua Heavy Steel Pipe Manufacturing Co.,
Ltd. ("Ningbo") won two contracts to supply approximately 4,700 metric tons of
spiral seam steel pipes for two water transmission pipeline projects in Fujian
Province. The contracts are valued at approximately $4.0 million. Deliveries
are expected to begin in May 2013.

Lifang Chen, Chairwoman and CEO of Sutor commented: "I am delighted that
following an $8.6 million bid we won earlier this month, Ningbo won two new
bids to supply steel pipes for water supply projects. The latest wins
demonstrate our success in targeting water transmission projects in Eastern
China where "Zhehua" brand is highly recognized. Our state-of-the-art
production lines and our expertise in manufacturing and supplying high quality
spiral steel pipes to prestigious project contractors make Sutor the supplier
of choice for our customers who demand stringent standards for product and
services."

Ms. Chen concluded, "As a result of China's rapid economic growth in the past
decade, water contamination and shortage has become an urgent issue in China.
In an effort to secure pure drinking water supply while furthering
industrialization and urbanization processes, the Chinese government has been
providing incentives to public utility companies to upgrade and expand their
water supply and water recycling systems across China. We believe that this
system upgrade will be a significant revenue generator for our pipe business
for several years."

About Sutor Technology Group Limited

Sutor is one of the leading China-based manufacturers and distributors of
high-end fine finished steel products and welded steel pipes used by a variety
of downstream applications. The Company utilizes a variety of in-house
developed processes and technologies to convert steel manufactured by third
parties into fine finished steel products, including hot-dip galvanized steel,
pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded
steel pipe products. To learn more about the Company, please visit
http://www.sutorcn.com/en/index.php.

Forward-Looking Statements

This press release includes certain statements that are not descriptions of
historical facts, but are forward-looking statements. Such statements
include, among others, those concerning our expected financial performance,
liquidity and strategic and operational plans, our future operating results,
our expectations regarding the market for our products, our expectations
regarding the steel market, as well as all assumptions, expectations,
predictions, intentions or beliefs about future events. You are cautioned
that any such forward-looking statements are not guarantees of future
performance and that a number of risks and uncertainties could cause our
actual results to differ materially from those anticipated, expressed or
implied in the forward-looking statements. These risks and uncertainties
include, but not limited to, the factors mentioned in the "Risk Factors"
section of our Annual Report on Form 10-K for the year ended June 30, 2012,
and other risks mentioned in our other reports filed with the Securities
Exchange Commission ("SEC"). Copies of filings made with the SEC are
available through the SEC's electronic data gathering analysis retrieval
system (EDGAR) at http://www.sec.gov. The words "believe," "expect,"
"anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or
similar expressions are intended to identify forward-looking statements. All
statements other than statements of historical fact are statements that could
be deemed forward-looking statements. The Company assumes no obligation and
does not intend to update any forward-looking statements, except as required
by law.

For more information, please contact:

China                                  US
Jason Wang, Director of IR            Lena Cati, IR Representative
Sutor Technology Group Limited        The Equity Group
Tel: +86-512-5268-0988                Tel: 212 836-9611
Email: investor_relations@sutorcn.com Email: lcati@equityny.com



SOURCE Sutor Technology Group Limited

Website: http://www.sutorcn.com/en/index.php
 
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