FT. LAUDERDALE, Fla., July 27, 2005 (PRIMEZONE) -- Dragon International Group Corp. (OTCBB:DRGG), one of China's leading manufacturers and distributors of a wide variety of specialty paper products and packaging materials, has recently entered into a new contract with Yantai Hongyu Packaging Material Company, Limited. Under the terms of the agreement Dragon International Group Corp. will supply them with 500 tons of duplex paper board and white paper board monthly. The contract is valued at approximately $3.6 million per year.
Chairman and CEO David Wu stated, "We are very pleased with this new contract. This new order along with our recent orders for $2 million from the Jiangsu Dare Group and $2.2 million from Red Gold Dragon further demonstrates our ability to become a leading supplier of cigarette paper as well as a supplier of specialty paper packaging. China is the largest cigarette consuming country in the world."
Mr. Wu further stated, "These new orders are a reflection of the quality of the company's products. Given our ability to access the US capital markets, management believes we can improve our financial performance substantially in the coming fiscal year. We are well poised to continue and accelerate our growth for years to come. The growth will come from both external acquisitions and internal growth."
About Dragon International Group Corporation
Dragon International Group Corp. ("Dragon") owns 100% ownership interest of Ningbo Anxin International Trade Co. Ltd. ("Anxin"). Anxin is located in Ningbo, Zhejiang Province, China, 200 miles south of Shanghai, and was established in 1997. Anxin is one of China's leading manufacturers and distributors of a wide variety of specialty paper products and packaging materials. Anxin operates one subsidiary, Yonglongxin, a manufacturing facility located in Ningbo, and Anxin holds an ISO9000 certificate and national license to import and export its product line globally. Anxin's main products are "Federal" SBS, "Hang Kong" CCB, golden and silver paperboards, holographic film Paper, pearl paperboards, laminating paper. Anxin currently has a distribution network covering east and central China. The company and its subsidiary have cultivated strategic relationships with several of the world's largest and well-known manufacturers of paper and specialty packaging products. For more information, please visit http://www.drgg.net.
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