Pacific Millennium Investment Corporation and Richard Tan Found Liable of Corporate Improprieties Arbitrator Hon. Howard B. Weiner Rules in favor of Energy Systems International, LLC SAN DIEGO, Sep 03, 2008 (BUSINESS WIRE) -- Last week, the Honorable Howard B. Weiner (Ret.), the sole Arbitrator in the case of Energy Systems International, LLC v. Pacific Millennium Investment Corporation, et al., ruled in favor of Energy Systems International, LLC (ESI) and found that Pacific Millennium Investment Corporation (PMIC) and its president and chairman of the board of directors, Richard Tan had illegally issued stock in Energy Systems International Limited (ESIL) to PMIC. Tan is also the CEO, President and a Director of Stone Tan China Acquisition Corp. (OTC:STTA). The invalid issuance of stock purported to divest ESI of its equal rights and interests in ESIL and to deny ESI's voting rights and powers as co-equal shareholder and co-equal controlling director of the corporation. The arbitration will now enter phase two of the proceedings to determine the damages and remedies associated with PMIC and Tan's conduct. In addition to the second phase of the arbitration, contempt proceedings are pending in the San Diego County Superior Court against PMIC and Tan, respecting those parties' alleged violations of a preliminary injunction entered on August 30, 2007. The next hearing in the contempt proceedings is scheduled for October 31, 2008. ESI is a leading Clean Development Mechanism (CDM) project developer. In 2002, the company successfully developed the Anding Landfill CDM Project near Beijing, the first CDM in China and the first project approved worldwide under the Kyoto Protocol, an international treaty which requires signatory nations to commit to the reduction of greenhouse gas emissions. One way in which signatory countries can satisfy their requirements under the treaty is through investment in "clean" growth in developing nations. Those investments are made through the purchase of emission reduction credits, such as those generated by the CDM projects developed by ESI. To continue the expansion of its business, particularly in China, ESI entered into a joint venture with PMIC in January 2004, which resulted in the formation of ESIL in November 2004. The Energy Systems International companies also include ESI-BV (the Netherlands), ESI-Japan, ESI-Beijing, and ESI-Shanghai, each of which are wholly owned subsidiaries of ESIL. Currently, the Energy Systems International companies are reported to hold the world's largest private portfolio of Certified Emission Reductions (CERs), deriving from almost 50 Clean Development Mechanism (CDM) projects in China. Beginning in early 2007, PMIC and Tan excluded ESI from participation in the management and business affairs of ESIL and issued to PMIC unauthorized stock, giving PMIC a purported majority of the equity of ESIL. Justice Wiener's ruling will allow ESI to resume its position as co-equal owner and co-equal manager of ESIL; and will enable the Energy Systems International companies to maintain their rightful place as a leader in the emission reduction industry, under the management of an authorized board of directors. SOURCE: Energy Systems International