BEIJING and CLAREMONT, Calif., Oct. 7, 2008 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) announced the Company's wholly owned subsidiary, Kiwa Bio-Tech Products (Shandong) Co., Ltd., signed an agreement to sell Hainan Yuanhenglida Industry and Trade Co., Ltd. (Yuanhenglida) bio-fertilizer valued at US$175,000. Products sold include "Di Fu Kang" and "Pen Duo Shou," both demonstrated good results during previous large-scale trial tests in the Hainan Reclamation Region.
Mr. Wei Li, CEO and Chairman, stated, "The cooperation between Yuanhenglida and Kiwa is based on recognition of the quality of Kiwa's bio-fertilizer products and increased awareness of our brands in the Hainan Reclamation Region. We are pleased to publicize this order as part of the early stage generating of sales revenue in Hainan Province and the Southern region of China. This illustrates recognition of the positive effects, on various crops, of the Company's bio-fertilizer products. Kiwa is striving to develop better technologies and a better product mix and increase our market share of bio-fertilizer products."
ABOUT KIWA BIO-TECH PRODUCTS GROUP CORPORATION
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please review documents filed with the SEC (www.sec.gov) or visit the Company's website at www.kiwabiotech.com.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.