News and Press Releases

SanJiang APower United to Obtain 170 MU under “Land Usage Rights” and RMB 5 Million in Development Grants

Oct 28, 2010

GUANGZHOU, China--()--Sino Agro Food, Inc. (Pink Sheet: SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to announce QingHai, HuangYuan, SanJiang APower United Corporation Ltd., a joint venture project which Sino Agro Food, Inc. holds 45% equity ownership, is set to obtain 170 MU under “land usage rights” as well as additional grants.

Under policy initiatives set forward by the central government of the Peoples Republic of China, the district government of HuangYuan has agreed to provide SanJiang APower United full “land usage rights” to the property currently being used rent free at the project site. The land is valued at USD $5.112 million and will provide additional assets to the joint venture which can be used as collateral for loans through the Agricultural Bank of China.

The district government has also agreed to provide RMB 5 million to be used towards infrastructure improvements and development. Funding through this grant began September 15, 2010. In October, earlier this month, the project received a government sponsored evaluation report placing a RMB 24.5 million, or USD $3.7 million asset value on the improvements made so far on the property. This valuation report satisfied the required RMB 20 million development investment required by the government to transfer “land usage rights” to the project.

Currently, the joint venture project has submitted additional development grant requests for the construction of dairy houses, manufacturing facilities and laboratory for its cold weather enzyme. The Company anticipates making an announcement on these additional requests soon.

Mr. Lee Solomon, Sino Agro Food, Inc. CEO, stated, “Our management team for the SanJiang APower United project have been working diligently with government officials and through their hard work and dedication we have obtained additional support to assist us in accelerating the project forward. We are thankful to the local and central government for its increasing efforts to support agricultural development in China.”

ABOUT SINO AGRO FOOD, INC.

Sino Agro Food, Inc. (“SIAF”) (http://www.sinoagrofood.com) and (http://www.siafchina.com) is an integrated, diversified agricultural technology and organic food company focused on developing, producing and distributing agricultural products in the Peoples Republic of China. The Company intends to focus on meeting the increasing demand of China’s rising middle class for gourmet and high-quality food items. Current lines of business include the manufacture and distribution of dairy products, beef products, fish products, bio-organic fertilizer, stockfeed and hylocereus undatus plantations.

FORWARD LOOKING STATEMENTS

This release contains certain “forward-looking statements” relating to the business of SIAF and its subsidiary companies, which can be identified by the use of forward-looking terminology such as “believes, expects” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on SIAF’s current expectations and beliefs concerning future developments and their potential effects on SIAF. There can be no assurance that future developments affecting SIAF will be those anticipated by SIAF. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. SIAF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contacts

Sino Agro Food, Inc.
CEO
Mr. Solomon Lee, 86-20-22057860
info@siafchina.com
or
Investor Relations (US and Europe)
Mr. Chad Sykes
Chad.Sykes@sinoagrofood.com