CESV China Energy Savings Technology (MM)

Dutton Associates initiates coverage of China Energy Savings Technology, Inc. (NASDAQ:CESV), with a Strong Speculative Buy rating and a 12-month price target of $13.75. The 19-page report by Dutton senior analyst Richard W. West, CFA, is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, and other leading financial portals. China Energy Savings Technology has established itself as a proven provider in the People's Republic of China of proprietary equipment and software to reduce energy consumption for large-scale users and individual appliances. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 26 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 80 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $35,000 prepaid before commencement of our research activities. We received $20,000 from the Company for 2 Research Reports with coverage commencing on 09/29/2005. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.