Harbin Electric Files a Shelf Registration Statement

HARBIN, China, May 28, 2009 Harbin Electric, Inc. ("Harbin Electric" or the "Company", Nasdaq: HRBN), a leading developer and manufacturer of a wide array of electric motors in the People's Republic of China, today announced that it has filed a universal shelf registration statement on Form S-3 ("Registration Statement") with the Securities and Exchange Commission ("SEC") on May 27, 2009.

The Registration Statement, when declared effective by the SEC, would allow the Company to offer and sell, from time to time, in one or more offerings, any combination of common stock, common stock purchase rights, warrants, debt securities, or units (collectively, the "Securities") having an aggregate initial offering price not exceeding $120 million with the size, price and terms to be determined at the time of the sale. The Registration Statement is intended to provide the Company with the flexibility to raise additional capital in the future from the offering of the Securities, subject to market conditions and the Company's capital needs.

The Registration Statement filed with the SEC has not yet become effective. No Securities may be sold, nor may offers to buy be accepted, prior to the effectiveness of the Registration Statement and the filing of one or more prospectus supplements containing the terms of the Securities to be offered. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offer of the Securities will be solely by means of the prospectus included in the Registration Statement and one or more prospectus supplements that will be issued at the time of the offering.