WSP Holdings Limited a leading Chinese manufacturer of API and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction and other pipes and connectors announced that the Company was notified by the New York Stock Exchange that the Company is not in compliance with certain NYSE continued listing standards.

The NYSE notified the Company that it is not in compliance with the continued listing standard requiring a listed security to maintain a minimum average closing price of USD 1.00 per share over a consecutive 30 trading day period. The Company has six months from receipt of the notification to bring its average ADS price above USD 1.00. The Company is considering several options to regain compliance with this standard.

The NYSE also notified the Company that it is not in compliance with the continued listing standard requiring the timely filing of its annual report on Form 20-F for the year ended December 31 2010. The Company previously filed a Form 12b to 25 with the US Securities and Exchange Commission notifying the SEC that the Company had been unable to finalize all the information required for the 2010 20-F by the June 30 2011 prescribed filing date. The deadline to file the Company's 2010 20-F was extended to July 15 2011.

The Company will further delay its filing of the 2010 20-F due to its evaluation of bill financing arrangements with commercial banks. This includes the Company review of current and past bill financing transactions, its procedures and controls with respect to such transactions and the consequences of entering into these transactions so that the Company can accurately report them in its 2010 20-F. The Company management has notified the NYSE that it is committed to filing the 2010 20-F as soon as possible and will continue to actively update the NYSE on these matters.