August 12, 2010 06:00 ET

China America Holdings Sees Refrigerant Exports Surging in Fiscal 2010 With Direct Export Sales in First Nine Months Already Up Over 204% From the Full Year of 2009

Sees Positive Export Trends Continuing Throughout 2010 and Into 2011 as Direct Sales Efforts Improve Performance

SHANGHAI, CHINA--(Marketwire - August 12, 2010) -  China America Holdings, Inc. (OTCBB: CAAH), a holding company operating in China that owns 56% of China based subsidiary Shanghai Aohong Chemical Co., Ltd., announced today that the Company sees refrigerant exports surging in 2010. The company has recorded direct export refrigerant sales of approximately $2.7 million in the first 9 months of fiscal 2010, a 204% from the $900,000 in export sales recorded in the full year of 2009. Overall exports for the first nine months fiscal 2010 resulted in revenue of $8.3 million as compared to $4.2 million in the same period in 2009. China America anticipates it will report full results for the third quarter and first 9 months of fiscal 2010 on August 16, 2010.

China America Holdings began to shift its sales focus toward direct international marketing and away from third party trading companies beginning in 2009. Over that time the company has made substantial marketing progress resulting in this dramatic increase in export sales performance so far in 2010 with management expecting this positive sales momentum to continue into 2011. Export product sales have now reached Europe, South Africa, Australia, and Southeastern Asia. 

Commenting on the increase in exports, Mr. Aihua Hu, CEO of Shanghai Aohong Chemical Co., Ltd., stated, "We are thrilled to have achieved such a significant increase in export sales in the first half of 2010. We believe that our continued efforts in international sales and marketing will lead to continued sales growth as we gain global market share. We believe that adding a strong international revenue stream to our growing domestic operations will enable us to achieve sustainable sales growth for the coming years for our shareholders."

About China America Holdings, Inc.

China America Holdings, Inc. is a holding company which owns a 56% stake in Shanghai Aohong Chemical Co., Ltd. based in Shanghai, China. Shanghai Aohong Chemical Co., Ltd. is a distributor of assorted liquid coolants which are utilized in a variety of applications, primarily as refrigerants in air conditioning systems for automobiles, residential and commercial air conditioning systems, and a manufacturer of steel non-refillable cylinders. For more information, please visit http://www.caah.us.

Safe Harbor Statement

China America Holdings, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our ability to secure financing, as well as our belief about our sales momentum, pricing strategy, ability to grow, and our expectations regarding our expectations regarding growth of the refrigerant market, revenues, margins, net income and earnings.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-KT for the transition year ended September 30, 2009.