Issue of Equity

AIM: CPEH

China Private Equity Investments Holdings Limited

("CPE" or the "Company")

Issue of Equity, Holdings in Company and Total Voting Rights

21 December 2011

The Company announces that it has entered into a subscription agreement with Max Era Properties Limited relating to the issue of 2,500,000 new ordinary shares ("Ordinary Shares") in the Company ("Subscription") at a subscription price of US$0.40 per share, raising in aggregate approximately US$1 million of new funds for CPE's future investment opportunities and to meet working capital requirements.

Following completion of the Subscription, Max Era Properties Limited will have an aggregate holding of 8,500,000 Ordinary Shares, representing 11.14 per cent. of the Company's enlarged issued share capital.

Application has been made for the new ordinary shares to be admitted to AIM ("Admission") and dealings are expected to commence on 29 December 2011.

In addition, and further to the Company's announcement on 21 November 2011, CPE has now received confirmation that Evergreen Solar, Inc.'s ("Evergreen") total holding in the Company is 7,573,964 Ordinary Shares, representing 10.26 per cent of the Company's issued share capital. Following Admission of the new ordinary shares, Evergreen's holding will represent 9.93 per cent. of the Company's enlarged issued share capital.

TOTAL VOTING RIGHTS

The Company advises that the total number of ordinary shares in issue and total voting rights following Admission will be 76,284,645.

The Company does not hold any shares in treasury and, therefore, the above figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company

For further information, please visit www.cpe-invest.com or contact:

China Private Equity +852 2801 6770

Investments Holdings Limited

Maria Leung, Corporate Communications Manager

Shore Capital and Corporate +44 (0)20 7408 4090

Limited (Nominated Adviser)

Bidhi Bhoma / Stephane Auton

Tavistock / First City +852 2854 2666

Public Relations

Allan Piper

Simon Hudson / Lydia Eades