On April 16, 2014, each of Mr. Julian Ha and Mr. Timothy Driscoll notified the Board of Directors of China Recycling Energy Corporation of his respective decision not to stand for re-election to the Board of Directors at the Company's 2014 Annual Meeting of Stockholders. Mr. Ha and Mr. Driscoll who has served on the Company's Board of Directors since October 30, 2009, will continue to serve as a director until the Company's 2014 Annual Meeting of Shareholders, which is expected to be held on June 19, 2014.