Business News

Orient Paper Audit Committee Updates the Status of the Independent Investigation

Tuesday 26. October 2010 - Orient Paper, Inc. (AMEX: ONP) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in Hebei, China, today provided an update regarding the status of the independent investigation that is being conducted by the Audit Committee of Orient Paper with the assistance of Loeb & Loeb LLP ("Loeb & Loeb") and Deloitte & Touche Financial Advisory Services Limited ("Deloitte").

As of October 25, 2010, the independent investigation has made substantial progress and is now in its final stage. The Company’s Audit Committee expects to complete the final portion of the investigation and report the results of the investigation to the Board of Directors within three weeks of the date of this announcement.

“We believe we have conducted a detailed and thorough independent investigation over the last three months and are pleased to announce it has entered its final stage,” said Mr. Drew Bernstein, Chairman of Orient Paper’s Audit Committee. “We continue to work with Loeb & Loeb and Deloitte to complete the rest of the investigation on schedule and look forward to providing the results to the Board of Directors.”