Harbin Electric (HRBN $17.80 +0.36) Chairman/CEO and Abax Global
Capital reaffirm commitment to Harbin Electric 'Going Private' transaction.
The company's Chairman and CEO and Abax Global Capital reaffirmed their
commitment to acquire all of the outstanding shares of common stock not
currently owned by Mr. Yang, Abax and their respective affiliates for $24.00 per
share in cash in a "going private" transaction, as per the merger agreement
entered into on June 20, 2011. China Development Bank also affirmed its
commitment to providing financing for the going private transaction.






