China Gengsheng Minerals Renews Full-Service Refractory Contract and Regenerative Bricks Contract with Shandong Iron and

China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS) ("Gengsheng" or "the Company"), a high-tech industrial materials products company in China with products capable of withstanding high temperatures, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it renewed a full-service refractory contract and regenerative bricks contract with Shandong Iron and Steel Group, Rizhao Subsidiary. The combined total value of the two contracts is approximately $9.0 million based on our estimation.

The term of the full-service contract is one year, effective from December 1, 2009 to November 10, 2010. Payments will be made on a monthly basis in accordance with the production schedules. The term of the regenerative bricks contract is 18 months, with a unit price of RMB8,000 per ton. Shandong Iron and Steel Group, Rizhao Subsidiary is the Company's top customer, accounting for $6.0 million in sales, or 17.5% of total sales in the refractory segment, in the first nine months of 2009.

"I am encouraged by the two contracts with Shandong Iron and Steel Group, Rizhao Subsidiary," said Mr. Shunqing Zhang, Chairman and CEO of the Company. "As our biggest customer and strategic partner, Shandong Iron and Steel Group, Rizhao Subsidiary has generated solid revenue growth and stable revenue streams for us. Meanwhile, the high value-added products such as the full- service programs and regenerative bricks typically enjoy higher gross margins."

The Company provides "full services" to China's steel mills in the form of refractory product installation, testing, maintenance, repair and replacement. Full-service customers contributed approximately 49.1% of the Company's total sales of refractory segment in the first nine months of 2009. Steel mills typically replace the refractory parts in their furnaces on an annual basis. In addition, the Company recently renewed its full-service contracts for refractory products with three other Chinese steel customers for another year. The combined total value of the three renewal contracts is estimated to be approximately $7.3 million.

About Shandong Iron and Steel Group, Rizhao Steel Subsidiary

Shandong Iron and Steel Group, a state-owned mill in the China's eastern Shandong province, merged with Rizhao Steel Holding Group in September 2009, as the provincial government consolidated the steel industry. The combination boosted Shandong Iron and Steel Group's steel output to the third highest in China. Rizhao Steel Holding Group produced approximately 7.5 million tons of steel last year, according to the World Steel Association.

About China Gengsheng Minerals, Inc.

China Gengsheng Minerals, Inc. ("Gengsheng") develops, manufactures and markets a broad range of high-tech industrial material products, including monolithic refractories, industrial ceramics and fracture proppants. A market leader offering customized solutions, Gengsheng sells its products primarily to the iron and steel industries as heat-resistant components for steel-making furnaces, industrial kilns and other high-temperature vessels to guarantee and improve the productivity of those expensive pieces of equipment while reducing their consumption of energy. Founded in 1986 and based in China's Henan province, Gengsheng currently has over 200 customers in the iron, steel, oil, glass, cement, aluminum and chemical businesses located in China and in 11 other countries. Gengsheng conducts its business through Gengsheng International Corporation, a British Virgin Islands company, and its Chinese subsidiaries, which are Henan Gengsheng Refractories Co., Ltd., Zhengzhou Duesail Fracture Proppant Co., Ltd. and Henan Gengsheng High Temperature Materials Co., Ltd.

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