LOS ANGELES, June 29, 2004 (PRIMEZONE) -- KIWA Bio-Tech Products Group Corporation ("the Company" or "KIWA"), (OTCBB:KWBT) announced today that it has added seventeen new customers after aggressively expanding its sales initiatives.
Wei Li, Chairman and CEO of KIWA stated, "This year our sales initiatives have focused on two large provinces. In Jiangsu Province, we utilize a commercial network through a major distributor. In Shandong Province, we partner with government agencies to generate new customers and secure collections."
Shandong Province contains approximately 91 million Chinese mu plant acreage. The company recently won a commitment from the local government in Jining City, Shandong Province to use KIWA's products for their approximately 5.5 million Chinese mu plant acreage (1 mu = 0.165 acre).
Li added, "We are making progress under the commitment from Jining City and gaining new customers from there and elsewhere in Shandong Province. Our recent repeat orders from a major distributor and the increasing number of customers we are adding have shown that demand for our products is there." Li concluded, "We are planning to expand our sales staff and geographic reach throughout China to actively pursue opportunities nationwide, and we are confident that KIWA's approach to increasing crop yields while safeguarding our natural resources will lead to sustainable growth."
For more information on KIWA and its products, please refer to the website at: www.kiwabiotechgroup.com.
About KIWA Bio-Tech Products Group Corporation
KIWA develops, manufactures and distributes innovative, cost-effective, and environmentally-safe bio-technological products to agricultural and environmental protection markets. The Company's goal is to have people in China and elsewhere in the world eat healthier, drink cleaner and live longer. The Company is a pioneer in commercialization of biotechnology, having an offshore manufacturing base in Shandong Province, China and distributing bio-tech products worldwide.
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 within 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.
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