Shanghai Century Acquisition Corporation Announces Record Date for Liquidation Distribution

  
    
  
  
    
      Shanghai Century Acquisition Corporation (the �Company�) 
      (AMEX: SHA, SHAWS, SHAU) announced today that the Company has set August 
      28, 2008 as the record date (�Record Date�) 
      for determining the public stockholders entitled to receive liquidation 
      distributions. The Record Date will also be the last trade date for the 
      Company�s securities on the American Stock 
      Exchange.
    
    
      Pursuant to the plan of liquidation, which was approved by the Company�s 
      stockholders on May 28, 2008, the Company will return the amount held in 
      trust, together with interest (net of applicable taxes and associated 
      expenses), to public stockholders, as of the Record Date, of the Company�s 
      common stock originally issued in its initial public offering. No 
      payments will be made with respect to any of the Company�s 
      outstanding warrants or to the shares owned by the Company�s 
      initial stockholders prior to the initial public offering. As of the 
      Record Date, the share transfer books of the Company will be closed, and 
      trading of the Company�s shares on the 
      American Stock Exchange will be suspended. The Company expects to make 
      liquidation distributions to the public stockholders promptly after 
      September 3, 2008.