Keyuan Petrochemicals (PINK:KEYP)

NINGBO, China, July 26, 2011 -- Keyuan Petrochemicals, Inc. (Nasdaq: KEYP) ("Keyuan” or the "Company"), a leading merchant manufacturer of various petrochemical products in China, announced today that the NASDAQ Hearings Panel has granted a stay of delisting of the Company's securities pending the Company’s scheduled hearing to be held on August 25, 2011. As a result, the Company's securities will remain listed, however halted, on the NASDAQ Global Select Market pending further action by the Hearings Panel. The Company is working diligently to complete its 2010 and 1H 2011 filings as soon as possible and continuing its full cooperation with the Audit Committee’s investigation. With these filings and completion of the investigation, Keyuan believes that it will regain compliance with the requirements for continued listing.