CLAREMONT, Calif., May 22, 2006 (PRIMEZONE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) reports on progress in development of its bio-fertilizer business:
On May 4, 2006, Kiwa Bio-Tech Products reported that it had 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.
Wei Li, Chairman and CEO of KIWA, said, "we are pleased that a new bio-feed additive developed by Kiwa has been recognized by Tianjin Challenge. Production testing of a feed additive for fish and for swine has begun."
About Tianjin Challenge Feed Co.
Tianjin Challenge Feed Co. is partially owned by and has built a large sales network, in part, due to its relations with China Challenge Group (http://www.challenge.com.cn). In 2005 the company's revenues were approximately Renminbi 80,000,000 (US$10,000,000). It operates two advanced feed production lines in China with capacity of 160,000 tons, and produces and sells compound, concentrated and pre-mixed feed to enhance livestock, fowl and aquatic harvests. Its products are sold in Shandong, North China and Northeast China.
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.