FEWP Far East Wind Power Corporation (CE)

Far East Wind Power Corp. (OTCBB: FEWP) ("Far East" or the "Company") is pleased to announce it has entered into a binding Letter of Intent ("LOI") with Heilongjiang Ruihao Technology Group Co., Ltd. ("Ruihao") of Daqing City, Heilongjiang Province, China ("Ruihao") to acquire certain rights to a number of development stage wind farm projects located within the People's Republic of China ("PRC").

The proposed venture will be collectively known as the Ruihao Project (the "Project") of which Ruihao currently owns or has exclusive access to substantial wind resources in Heilongjiang province and Jilin province.

Far East and Ruihao have expressed interest in cooperating to develop several wind farms, the first of which is the Guangyuan Daxin Project Phase I, located at Daxin Village, Shengli Mongolian Town, Tailai County, Qiqihaer, Heilongjiang Province. Planned capacity is 49.5MW. Tariff in this area is RMB 0.61 Yuan per kWh (US $0.090/kWh). The project is Phase I of a planned 200MW development project.

The Guangyuan Daxin Phase I Project is in the final permitting and approval process and Ruihao expects it to be construction ready in 2010.

Far East aims to complete due diligence on the Ruihao Project within 30 days after the LOI is signed, and the Definitive Agreement shall contain customary representation and warranties, covenants and indemnification provisions.

Details of the company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

About Far East Wind Power Corp. (OTCBB: FEWP) Far East Wind Power Corp. aims to generate clean and profitable energy in one of the world's fastest growing energy sectors through access to a portfolio of high-calibre utility-class wind power development projects. Far East will inject innovation to drive cost out of turbine manufacturing, introduce new technologies and strategic relationships, plus aggressively pursue low cost of capital to deliver the most competitive cost per capacity and highest rates of return in the Asian marketplace. For more information, visit: www.fareastwind.com

Notice Regarding Forward-Looking Statements This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD

Far East Wind Power Corp. ----------------------------- Marcus Laun, Director

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Contact: Investor Relations PR Financial Marketing, LLC Jim Blackman (713) 256-0369 Email Contact Evergreen Investor Relations, Inc. Phone: 1-866-513-2537 Email: Email Contact Web: www.fareastwind.com