A-Power Sets Redemption Date of Warrants

  
    
  
  
    
      A-Power Energy Generation Systems (NASDAQ:APWR) (NASDAQ:APWRW) 
      (NASDAQ:APWRU) ("A-Power"), today announced that it is 
      sending out redemption notices to all of the holders of its issued and 
      outstanding callable common stock purchase warrants. Proceeds from the 
      warrant redemption will be used for, among other things, the financing 
      of its previously announced new production plant and its previously 
      announced acquisition. The final redemption date for the warrants will 
      be March 24, 2008. After the redemption date, holders of warrants who 
      have not exercised them will be paid $0.01 per warrant, and the warrant 
      will be extinguished.
    
    
      The right of A-Power to call these warrants is the result of the fact 
      that the company's common shares have closed at a price of $8.50 or more 
      for at least 20 of 30 trading days prior to the notice of redemption 
      being sent to the warrant holders. The closing price of the common 
      shares on February 20, 2008 was $19.50.
    
    
      The common stock purchase warrants were originally issued by Chardan 
      South China Acquisition Corp. in August 2005. As a result of the merger 
      of Chardan South and A-Power, the warrants are now exercisable into 
      common shares of A-Power.
    
    
      Prior to March 24, 2008, holders of the warrants may exercise them for 
      common shares by sending the warrants, together with payment in full of 
      $5.00 per warrant, to A-Power’s stock transfer 
      agent, Continental Stock Transfer and Trust Company.
    
    
      About A-Power
    
    
      A-Power Energy Generation Systems, Ltd., formerly Chardan South China 
      Acquisition Corp., through its PRC operating subsidiary, Liaoning GaoKe 
      Energy Group Co., Ltd., is the largest provider of distributed power 
      generation systems in China and will enter into China’s 
      wind energy market in 2008. The Company is also focused on developing 
      and commercializing additional renewable energy technologies and has 
      strategic relationships with both Tsinghua University and the China 
      Sciences Academy in Guangzhou.