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TheStreet Open House

China Growth Equity Investment Ltd. Postpones Shareholder Meeting

NEW YORK, Feb. 15, 2013 /PRNewswire/ -- China Growth Equity Investment Ltd., a blank check company (the "Company") (Nasdaq: CGEI; CGEIU; CGEIW), today announced that it has postponed its shareholder meeting originally scheduled to take place on February 21, 2013. The shareholder meeting will be postponed until February 25, 2013 at 11:00 a.m., New York City time, at its original location. The record date for the shareholder meeting remains January 28, 2013. Shareholders may tender their shares for redemption until 5:00 p.m. New York City time, February 22, 2013, in accordance with the procedures described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on February 6, 2013. Shareholders who have previously sent in proxy cards or given instructions to brokers do not need to re-cast their votes.

About CGEI

China Growth Equity Investment Ltd. (Nasdaq: CGEI; CGEIU; CGEIW), or CGEI, is a SPAC, also known as a blank-check company incorporated as a Cayman Islands-exempted company. CGEI intends to use the net proceeds from its initial public offering for the purpose of acquiring one or more operating companies through a merger, share capital exchange, asset acquisition, share purchase, reorganization or similar business combination. On October 25, 2012 CGEI and China Dredging Group Co., Ltd. ("CDGC") entered into a definitive merger agreement for CGEI to merge with CDGC and that CGEI and Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd. ("Pingtan Fishing") entered into a definitive agreement for CGEI to acquire Pingtan Fishing. The parties expect the transactions to provide CDGC and Pingtan Fishing with necessary financial resources for the companies' next stage of growth. The combined entity, which will be renamed "Pingtan Marine Enterprise Ltd.," intends to apply to be listed on NASDAQ under the ticker symbol "PME". Upon completion of the merger and the acquisition, Mr. Xinrong Zhuo, will be the chairman of the combined company.

Disclaimer

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

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