NEW YORK, April 17, 2007 (PRIME NEWSWIRE) -- AgFeed Industries, Inc. (OTCBB:AGFI) (website: http://www.agfeedinc.com), the first China-based animal nutritional product company publicly traded in the U.S., today announced that Mr. Nicholas Giordano, former CEO of the Philadelphia Stock Exchange, has joined AgFeed as a strategic advisor to guide the Company with strategic development.
Songyan Li, Ph.D., Chairman of AgFeed Industries commented: "As AgFeed positions itself as a rapidly growing market leader and consolidator in China's $40 billion per year animal nutrition industry, we wish to build a world class enterprise that is focused on organic growth, strategic acquisitions as well as corporate governance as a public company. There are abundant opportunities for consolidation and M&A both domestically in China and globally. We are honored to have a highly regarded senior securities industry regulator and executive such as Mr. Giordano to advise AgFeed with strategic matters. We look forward to his guidance for many years to come."
About Mr. Nicholas Giordano
Mr. Giordano, age 64, CPA, is the former CEO the Philadelphia Stock Exchange (PHLX) from 1981 through 1997. He also served as Chairman of the Stock Clearing Corporation of Philadelphia and Philadelphia Depository Trust Company. As a securities industry regulator and in his capacity as CEO of PHLX, he frequently served as a spokesman before both houses of Congress, the Securities and Exchange Commission and various news and financial media. He has testified on market structure issues before the Subcommittee on Telecommunications and Finance, the Committee on Energy and Commerce and before the SEC. Legislative initiatives led by Mr. Giordano include support for the Unlisted Trading Privilege (UTP) Bill. Mr. Giordano played a key leadership role in securing legislation resulting in the Shad Johnson Agreement in 1981 which clarified jurisdictional issues between commodities and securities industries, laying the groundwork for the explosive growth in the 1980's and 90's of derivatives instruments. Prior to his appointment as the CEO, Mr. Giordano held various senior positions at the Exchange since 1971. Mr. Giordano is Board member of several entities including Independence Blue Cross of Philadelphia, a $10 billion health care insurer; WT Mutual Fund, an institutional investor with over $6 billion under management; Intricon Corporation, an AMEX listed company and Kalmar Investments Inc., an open-ended small cap fund. He is former Vice Chairman of the board of trustees of LaSalle University. He was chairman of the board of Mount Saint Joseph Academy and is a board member of the American University of Rome. From 1998 to 1999, he was appointed the interim President of LaSalle University. As a Certified Public Accountant, Mr. Giordano began his professional career at Pricewaterhouse in 1965 as an auditor. He earned a Bachelor of Science degree from LaSalle University in 1965
About AgFeed Industries, Inc.
A U.S. company under U.S. corporate governance, AgFeed Industries is the first China-based animal feed and nutritional product company publicly traded in the U.S. Through its operating subsidiaries which were founded in 1995 in China, AgFeed is a leading manufacturer, marketer and distributor of animal nutrition products targeting China's vast and growing animal feed market. AgFeed is the No. 1 player in the pre-mix market for pork by sales volume in China's eastern provinces. China's animal feed market was $34.6 billion in 2005 according to China Feed Industry Association.
Safe Harbor Statement
Certain forward-looking statements made on this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to the risks described in the company filings with the Securities and Exchange Commission.