SHI Corporation Acquisition Completed

SHI Corporation (�the Company�) (Pink Sheets:SHCC) announced today that it has completed all the steps necessary for the acquisition of Ecoindex Co. Ltd. (Japan). The transaction resulted in the shareholders of Ecoindex becoming the controlling shareholders of the Company and coincided with the appointment of new members of management. The transaction documents were executed in February of this year and thereafter the Company entered a �quiet period� while certain corporate matters were finalized.

SHI Corporation, through its operating subsidiary Ecoindex, is engaged in the business of providing solutions to the myriad global warming issues. The Company has identified the Paulownia tree as a natural and efficient consumer of damaging carbon dioxide gasses. The Paulownia is a beautiful ancient Asian tree that can provide extraordinary hardwood for a variety of products. The trees provide substantial shade and flowers in a wide range of soils and climates. They are extremely fast growing and easily cultivated. The tree grows rapidly and reaches maturity in only four to six years. When harvested, a new tree grows from the remaining stump, thus reducing the complex issues related to replanting.

Mr. Yoshikazu Hatayama, President of SHI Corporation, stated: �We are very pleased to have completed the transaction that allows investors worldwide to participate in the exciting business we are developing. Our forestation of a Super Paulownia tree will provide powerful solutions to the growing damage and dangers of global warming. We believe in the near future countries throughout the world will recognize our company as the best authority in reducing carbon dioxide gasses through forests of Paulownia trees.�

The Company will be making further announcements as it expands its operations.

Release Note: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize.

Shi (CE) (USOTC:SHCC)
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