Sutor Technology Group Limited Receives High Tech Enterprise Status and Preferred Tax Rate

   Sutor Technology Group Limited Receives High Tech Enterprise Status and
                              Preferred Tax Rate

PR Newswire

CHANGSHU, China, Oct. 16, 2013

CHANGSHU, China, Oct. 16, 2013 /PRNewswire-FirstCall/ - Sutor Technology Group
Limited (the "Company" or "Sutor") (Nasdaq: SUTR), a leading China-based
non-state owned manufacturer and distributor of high-end fine finished steel
products and welded steel pipes used by a variety of downstream applications,
today announced the Jiangsu provincial government had renewed the High Tech
Enterprise status of the Company's wholly-owned subsidiary, Changshu Huaye
Steel Strip Co., Ltd.("Changshu Huaye").

As a result, Changshu Huaye is entitled to a preferred tax rate of 15% for the
three years 2013 through 2015, compared with the normal 25% corporate tax
rate. Changshu Huaye was designated as a High Tech Enterprise beginning in
2010.

Ms. Lifang Chen, Chairlady and CEO of Sutor, commented, "The approval of the
renewed High Tech Enterprise status demonstrates the Chinese government's
acknowledgment of Sutor's commitment to becoming a leader in China's high-end
steel industry and its endeavor to adhere to its strategy of driving the
Company's growth via technological innovation. We believe this strategy
strengthens the Company's core competencies and differentiates it from its
competitors. While our current main business is traditional manufacturing
business, we will accelerate our growth through technological innovation,
expanding capacity as well as new business initiatives. We seek long-term
sustainable growth to meet growing customer needs."

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 in nature within the
meaning of the Private Securities Litigation Reform Act of 1995. 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, 2013,
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:

Jason Wang, Director of
IR
Sutor Technology Group
Limited
Tel:
+86-512-5268-0988
Email:investor_relations@sutorcn.com

SOURCE Sutor Technology Group Limited

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