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Fuwei Films Announces the Receipt of Notification Regarding the Ownership Transfer of Controlling Shareholders

Tuesday 10. May 2011 - Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced the Company received a notification from the Weifang State-owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-owned Asset Management and Supervision Committee (the "Administration Company") regarding the transfer of the ownership of controlling shareholders.

According to the notification, the former controlling shareholders of the Company, Messrs. Jun Yin, Duo Wang and Tong Ju Zhou, had transferred their entire ownership in several intermediate holding companies to the Administration Company, Ms. Qing Liu and Mr. Zhixin Han. As a result of the transfers, and based on the information provided by the Administration Company, the Company believes that 52.9% of its outstanding ordinary shares are controlled indirectly by the Administration Company and 12.55% of its outstanding ordinary shares are jointly controlled indirectly by Ms. Liu and Mr. Han.
In light of the receipt of the information described above regarding the transfer of control over the ordinary shares of the Company, the Company hopes that the concerns of The NASDAQ Stock Market LLC (“NASDAQ”) regarding the continued listing of its ordinary shares may be reduced.