SHE SPDR MSCI USA Gender Diversity ETF

New York-based securities law firm, Sichenzia Ross Friedman Ference LLP (www.srff.com) congratulates its client, Shengkai Innovations, Inc. on its first day of trading on the NYSE Amex. China-based Shengkai Innovations, Inc. opened for trading on NYSE Amex under the ticker symbol (NYSE Amex: SHE) on December 23, 2009.

"We are pleased and honored to represent Shengkai Innovations, Inc. in its listing on the NYSE Amex. With Shengkai Innovations, Inc., we now have successfully listed our fifth Chinese-based company, which had previously traded on the Bulletin Board to the NYSE Amex this year," said Benjamin Tan, partner and head of the firm's Asian Practice Group.

"Our recent back-to-back success in transitioning our Bulletin Board China-based clients to the NYSE Amex, first with Orient Paper, Inc. and now with Shengkai Innovations, Inc., over the past two weeks, is a testament to our ability and commitment to our clients to help them realize their full potential. We are extremely proud of our achievements but more so for our clients, whose goal is to receive the respect and recognition of the investment community and to list on a senior stock exchange like the NYSE Amex," enthused Marc Ross, founding member of the firm.

About Shengkai Innovations, Inc.

Shengkai Innovations is engaged in the design, manufacture and sale of ceramic valves, high-tech ceramic materials and the provision of technical consultation and related services. The Company's industrial valve products are used by companies in the electric power, petrochemical, metallurgy, and environmental protection industries as high-performance, more durable alternatives to traditional metal valves. The Company was founded in 1994 and is headquartered in Tianjin, the PRC.

The Company is one of the few ceramic valve manufacturers in the world with research and development, engineering, and production capacity for structural ceramics and is the only valve manufacturer that is able to produce large-sized ceramic valves with calibers of 6" or more. The Company's product portfolio includes a broad range of valves that are sold throughout the PRC, to North America, United Arab Emirates, and other countries in the Asia-Pacific region. The Company has over 300 customers, and is the only ceramic valve supplier qualified to supply Sinopec. The Company also became a member of the PetroChina supply network in 2006.

About Sichenzia Ross Friedman Ference LLP

Sichenzia Ross Friedman Ference LLP was established in 1998 to provide experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters. The Asian Practice Group was formalized in 2008 and currently has two lawyers fluent in both Mandarin and English. SRFF's clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. For more information, visit www.srff.com. For interview and media requests, contact Richard Friedman at 212 930-9700 or at rfriedman@srff.com.

CONTACT: Sichenzia Ross Friedman Ference LLP Richard Friedman 212-930-9700 Email Contact