Recon Technology Announces Pricing of Initial Public Offering on NASDAQ

Recon Technology, Ltd. (Nasdaq: RCON), a leading Chinese non-state-owned oil and gas automation services provider, announced today its initial public offering of 1,700,000 ordinary shares at $6.00 per share. These ordinary shares will begin trading today under the ticker symbol "RCON” on the Nasdaq Capital Market.

Of the 1,700,000 shares sold in the offering, all of the shares were sold by Recon Technology.

Anderson & Strudwick, Inc. acted as the lead placement agent for the offering.

Recon’s registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the prospectus relating to the offering may be obtained from:

        
      
      
        
          Mac Downs, Senior Vice President
        
      
      
        
          Anderson & Strudwick, Inc.
        
      
      
        
          707 East Main Street, 20th Floor
        
      
      
        
          Richmond, VA 23219
        
      
      
        
          Phone: [phone]
        
      
      
        
          

E-mail: [e-mail]

About Recon Technology, Ltd

For over 10 years, Recon Technology, Ltd. has provided leading Chinese oil and gas companies with automation services that increase efficiency and profitability in exploration, extraction, refining and processing. Recon's specialized proprietary software and hardware manage the oil production and process in real-time thereby increasing extraction levels, reducing impurities in extracted petroleum and lowering production costs. Recon's technology is based on three software copyrights, eight product patents and four pending patents. Recon Technology is the first Chinese non-state-owned oil and gas service company to go public in the U.S. More information may be found at http://www.recon.cn or e-mail: [e-mail].

Information for investors, including an investment profile about Recon is available at http://www.hawkassociates.com/profile/rcon.cfm. Investors may contact Susan Zhou, Hawk Associates, at [phone], e-mail: [e-mail]. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.hawkassociates.com.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.