Consumables

Fuwei Films Announces Final Results of the Anti-Dumping Investigation Conducted by South Korea

Tuesday 02. September 2008 - Company Assessed Lowest Anti-dumping Duty Rate Among all Chinese BOPET Film Exporters

Fuwei Films (Holdings) Co. Limited (NASDAQ:FFHL) (“Fuwei” or “the Company”), a manufacturer and distributor of high-quality BOPET plastic films located in China, today announced that the Korean Trade Commission (“KTC”) made the final determination of the anti-dumping investigation of BOPET films originated in China and India on August 27, 2008 and decided to recommend the Ministry of Strategy and Finance (“MOSF”) to levy the anti-dumping duty (“ADD”) on such imports for five years.

The final determination of the ADD rate for Fuwei is 5.67%, versus 6.13% in the preliminary determination. The ADD rate for other Chinese companies is 23.6% except two which enjoy the ADD rate of 8.93% and 15.95% respectively. The ADD rate for one Indian company is 10.4% and for other Indian companies is 25.32%.

KTC began its anti-dumping investigation of BOPET film exporters in China and India in November 2007.

“Today’s ADD rate result from South Korea means Fuwei now enjoys a competitive advantage in exports,” said Mr. Xiaoan He, Chairman and CEO of Fuwei. “We first entered the South Korean market in 2005 and since then we have been focusing on delivering higher-valued specialty film products, which we believe is the main reason why our products are assessed a lower ADD rate in this case. We expect to use this competitive advantage to further penetrate the South Korean market.”

The ADD rates are expected to become effective sometime in October 2008 when MOSF makes a formal announcement.