[20 March 2013, Hong Kong] MIE Holdings Corporation (“MIE” or “the Company”, together with the subsidiaries, the “Group”; Stock Code:1555), an independent upstream oil and gas company engaged in the exploration, development and production of crude oil and natural gas in China, Kazakhstan and USA, is pleased to announce that its subsidiary Emir-Oil, LLC (“Emir-Oil”) has signed the fourth production contract with the Ministry of Oil and Gas of the Republic of Kazakhstan for Emir oilfield, covering an area of 3.53 square kilometers with a term of 17 years.

Emir-Oil holds an exploration contract recently extended through January 9, 2015 covering approximately 808 square kilometers of the Aksaz-Dolinnoe-Kariman area (the “ADE” area) excluding Aksaz, Dolinnoe, Kariman and Emir oilfields. The Aksaz, Dolinnoe and Kariman production contracts were granted in September 2011 all with a term of 25 years. The total contract area under the four production contracts is 46.43 square kilometers.

Emir oilfield is one of the seven oilfields discovered in the ADE area. Its main productive zone is part of the Middle Triassic zone at an average depth of approximately 3,100 meters. Oil from Emir oilfield is light with a low tar content, high paraffin content, and the density of the oil is 40° API. Gas is mainly methane with low levels of propane. Emir-Oil’s minimum commitment is approximately US$25 million under the work program for the term of the production contract.

Emir oilfield’s discovery and initial delineation was by three wells, Emir-1, Emir-6 and Emir-2, which were drilled before the Company acquired Emir-Oil in September 2011. These wells were all completed and produced some oil, but all three are shut in waiting on rehabilitation. The Company plans to recommence production of the existing wells, stimulating them with acid fracturing technology used successfully by the Company on other old wells. The Company also plans to drill new development wells in Emir oilfield and will evaluate the use of horizontal drilling. Development will be in conjunction with our nearby oilfields allowing sharing of certain centralized facilities for oil and gas handling.

Our independent reserve consultant has assigned significant reserves and resources for Emir oilfield to the Company, in their report dated January 1, 2013 (evaluated based on around 4.8 square kilometers closed area).

The Company is also progressing well on the retained exploration contract area. Two exploration wells, namely Borly-2 and Yessen-1 drilled in 2012, are being tested and both with hydrocarbon shows. Another exploration well, North Kariman-2 also drilled in 2012, is waiting for the approval to be converted to pilot production well. North Kariman-2 produced around 500 barrels of oil per day before shut in to seek governmental approval for the conversion.

The Company is pleased to have obtained this fourth production contract in Kazakhstan. The value of the reserves and resources in the producing Aksaz, Dollinoe and Kariman oilfields was the primary consideration for the acquisition of Emir-Oil. Any additional production contracts and any new discoveries in the ADE Area are considered extra bonus to the Company. The Company believes that significant potential exists in this prolific area and is confident that we can convert more exploration blocks to production blocks to generate stable cash flow and make Kazakhstan another focus operation area in addition to our Northeastern China projects.

MIE is an independent oil and gas company engaged in the exploration and production of oil and gas in China, Kazakhstan and USA. The Group operates the Daan, Moliqing and Miao 3 oilfields in the Songliao Basins and Dagang – Kongnan block in the Huanghua Basin under four separate production sharing contracts with PetroChina, the largest oil company in China and holds a 51% stake in a joint venture that operates Linxing and Sanjiaobei with unconventional gas assets in the Ordos Basin under two separate production sharing contracts. The Group also holds an exploration contract and four production contracts that allow the Group to conduct exploration and production activities in the Mangistau province in the southwestern region of Kazakhstan. In addition, the Group pursues other development and production opportunities in China, and exploration, development and production opportunities internationally, both independently and in partnership with other major and independent oil companies.

MIE is listed on the main board of Hong Kong Stock Exchange with stock code 1555.

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