CLAREMONT, Calif., May 4, 2006 (PRIMEZONE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) reported that it has signed annual distribution agreements with four organizations. These agreements will significantly expand the geographic territory and will sharply increase the sales and marketing efforts for Kiwa's products.
Agreements were signed with:
-- Heilongjiang Baidahuang Food Technology Development
Co., Ltd.
-- Beijing Zhongnog Xingda Agriculture Development
Co., Ltd.
-- Tianjin Chanllenge Feed Co., Ltd.
-- Nanjing Zhongzheng Agricultural Technological Products
Promotion Co. Ltd.
Kiwa's products will be marketed by these organizations (respectively) in the following provinces and regions:
-- Heilongjiang, Jilin and Liaoning -- Hebei Province, Henan Province, Beijing and Tianjin -- Heilongjiang, Jilin, Liaoning, Hebei, Inner Mongolia and Shanxi -- Jiangsu, Anhui and Zhejiang
The combined sales objectives for the four organizations is Renminbi (RMB) 145,000,000 (U.S. $17.8 million). Products include "Yi Mu Ling" water flush fertilizer, "Pu Guang Fu" liquid fertilizer for plant's leaves, "Zhi Guang You" compound microorganism fertilizer and organic fertilizer. Kiwa's line of fertilizer products sell from a low price of $500 per ton to as much as $6,000 per ton.
About KIWA Bio-Tech Products Group Corporation
Kiwa is a California company, with offices and operations in China, that develops, manufactures, and distributes innovative, cost-effective, and environmentally safe bio-technological products to agricultural and natural resource conservation markets. The Company has acquired the rights to manufacture and market AF-01 Anti-viral Aerosol Agent for use in preventing (blocking) bird-flu disease in Chinese and international markets. The Company has excellent relations with government authorities in China and has developed several innovative, high margin products, while continuing to grow through internal and external product development.
For more information on KIWA and its products, please refer to the website at www.kiwabiotech.com or the Company filings with the United States Security and Exchange Commission, available for free at www.sec.gov
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.