-- 2Q2009 estimated sales to be in the range of RMB 230 million to 235 million -- FY2009 sales expected to reach RMB 975 million to 1,000 million -- 2Q 2009 results to be released on August 14, 2009 SHANGHAI, Aug. 3 /PRNewswire-Asia-FirstCall/ -- Chemspec International Limited (NYSE: CPC; "Chemspec" or the "Company"), a leading China-based contract manufacturer of highly-engineered specialty chemicals, today announced preliminary second quarter data and limited guidance for the full 2009 fiscal year, and that it will release unaudited financial results for the second quarter ended June 30, 2009 before the market opens on Friday, August 14, 2009. Preliminary data for the second quarter ended June 30, 2009: For the second quarter ended June 30, 2009, the Company estimates sales to be in the range of RMB230 million to RMB 235 million. This would reflect an estimated increase of between 6.5% - 8.8 % compared to actual sales of RMB 216.0 million for the same period of 2008. Estimated gross profit is expected to be in the range of RMB 94 million to RMB 96 million for the period, which would reflect an estimated increase of between 8.2% - 10.6% compared to actual gross profit of RMB 86.8 million for the same period of 2008. Both estimated sales and gross profit are in line with the Company's internal targets. Fiscal Year 2009 Guidance: For the full 2009 fiscal year ending December 31, 2009, the Company expects sales to be in the range of RMB975 million to RMB 1,000 million, which would reflect an estimated increase of 3.2% to 5.8 % compared to RMB 945 million for the year ending December 31, 2008. Dr. Jianhua Yang, Chairman and CEO of Chemspec, commented, "We are pleased to offer our first outlook as a publicly traded company. While we have been experiencing a recovery in demand for our specialty chemicals used in the manufacturing of electronics since the second quarter of 2009, the global economic environment clearly remains challenging. Some of our customers in the agrochemical and pharmaceutical end-markets around the world have been affected by these difficult times and have experienced a significant slowdown and/or decline in growth in 2Q09. As a result, they have reduced their purchase orders for deliveries in 3Q09 in order to adjust the timing of their planned commercialization of new products as well as reduced their inventory levels. But we believe we will still be able to achieve top line sales growth this year because we continue to be selected as a reliable and preferred source of fluorinated specialty chemicals by our solid base of long-term blue chip end-users as a result of our fast and flexible manufacturing facilities, strong process technologies, experienced management team and lean cost controls. We are confident that our annual top line sales growth can continue in year 2010 based on our strong project pipelines and as the global economy recovers. We look forward to discussing our second quarter results and forward outlook on our upcoming conference call." Second Quarter 2009 Conference Call: Management will host a conference call and live webcast to discuss the second quarter results and forward outlook at 8:00am Eastern Daylight Time (8:00 pm Beijing time) on Friday, August 14, 2009. The dial-in details for the live conference call are as follows: - U.S. Toll Free Number: 1-866-519-4004 - International Dial-in Number: +65-6735-7955 - Mainland China Toll Free Number: 10-800-819-0121 - Hong Kong Toll Free Number: 80-093-3053 - U.K. Toll Free Number: 080-8234-6646 Conference ID: CPC A live and archived webcast of the conference call will be available on the Investor Relations section of Chemspec's website at http://www.chemspec.com.cn/ . A telephone replay of the call will be available after the conclusion of the conference call through 10:00am Eastern Daylight Time, August 21, 2009. The dial-in details for the replay are as follows: - U.S. Toll Free Number +1-866-214-5335 - International Dial-in Number +61-2-8235-5000 Conference ID: 23225390 Safe Harbor Statements This announcement contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Chemspec's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. Chemspec does not undertake any obligation to update any forward-looking statement, except as required under applicable law. About Chemspec Chemspec is a leading China-based contract manufacturer of highly engineered specialty chemicals and the largest manufacturer of fluorinated specialty chemicals in China based on sales. In manufacturing specialty chemicals, Chemspec also provides process design and process development services, which enable efficient and rapid production of specialty chemicals that are incorporated into the products of Chemspec's end users. Chemspec's customers and end users include electronics, pharmaceutical and agrochemical companies. For more information, please visit http://www.chemspec.com.cn/ . For further information, please contact: Chemspec International Ltd. In Shanghai Bing Zhu Chief Financial Officer Tel: +86-21-5270-2636 x8053 Email: Christensen In New York Kathy Li Tel: +1-212-618-1978 Email: In Hong Kong Tip Fleming Tel: +852-9212-0684 Email: DATASOURCE: Chemspec International Ltd. CONTACT: Chemspec International Ltd. - In Shanghai, Bing Zhu, Chief Financial Officer, +86-21-5270-2636 x8053, or ; Or Christensen - In New York, Kathy Li, +1-212-618-1978, or ; or In Hong Kong - Tip Fleming, +852-9212-0684, or Web site: http://www.chemspec.com.cn/

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