On and effective as of December 27, 2013, the board of Directors of Andatee China Marine Fuel Services Corporation approved the following changes to the company's executive management: Following Wang Hao's resignation as the company's Chief Financial Officer (CFO), which resignation was not for cause or for any disagreements with the company, the board appointed Mr. Quan Zhang, the company's deputy CFO, as the company's Interim CFO, effective immediately. Mr. Zhang has held the title of the company's deputy CFO since January 2013. Following An Fengbin's resignation as the company's Chief Executive Officer (CEO), which resignation was not for cause or for any disagreements with the company, the board promoted and appointed Wang Hao to the offices of the company's CEO, effective immediately.

Mr. An will remain the company's Chairman of the board. Mr. Wang Hao was appointed as the company's CFO in December 2012. From August 2007 to May 2010, he was Chief Financial Officer and Vice President of BoYuan Construction Group Inc.