Wowjoint Holdings Limited Signs $4.3 Million Leasing Contract with Guangzhou Railway Engineering Co.

BEIJING, May 16, 2011 /PRNewswire-Asia/ -- Wowjoint Holdings Limited ("Wowjoint," or the "Company") (Nasdaq: BWOW, BWOWU, BWOWW), China's innovative infrastructure solutions provider of customized heavy duty lifting and carrying machinery, today announced it has signed a $4.3 million leasing contract with Guangzhou Railway Engineering Co. ("Guangzhou Railway"). The Company has now signed a total of $20 million in new contracts during 2011.

The leasing contract, for a 900 ton special launching carrier, has a term of 15 months and represents another new customer for Wowjoint as this is the first agreement with Guangzhou Railway. The carrier will be utilized on a section of the Shanghai-Kunming high-speed passenger railway project. This project and equipment highlights Wowjoint's high technical ability to provide a customized carrier that can be utilized in extreme mountainous areas.

Wowjoint has signed approximately $20 million in new contracts since the beginning of 2011.  Those contracts include $10 million in sales contracts, $9 million in leasing contracts and almost $1 million in technical service contracts.  Since the beginning of the year Wowjoint has also expanded into two new industries, the luxury goods market with the yacht industry and the wind power industry.  The Company continues to focus on expansion with new customers, new industries and contract diversification by enhancing its leasing and service revenue.

"We are pleased to have another new customer and look forward to a continued relationship with Guangzhou Railway," Mr. Yabin Liu, Chief Executive Officer of Wowjoint stated. "Our sales team has continued to win new contracts and obtain new customers, which is shown by the $20 million in contracts we have achieved since the beginning of this year. In addition, our employees have been extremely dedicated and have ensured that our customers' requests are met and that Wowjoint continues to provide the highest quality equipment in a timely manner. We have been able to achieve penetration of sales in different markets and in our leasing and service business in a fairly quick time frame and we believe we will continue to expand in these areas."

About Wowjoint Holdings Limited

Wowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in large-scale infrastructure projects such as railway, highway and bridge construction. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers and marine hoists. The Company's innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint is well positioned to benefit directly from China's rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint's products and other relevant information are available on its website at http://www.wowjoint.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Wowjoint undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement. All subsequent written and oral forward-looking statements concerning Wowjoint or other matters and attributable to Wowjoint or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Wowjoint does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.