News and Press Releases

Capital Award, Inc. Orders First 300,000 Fingerlings, Provides Update on Fishery Start-Up Operations

Jul 23, 2010

GUANGZHOU, China--()--Sino Agro Food, Inc. (Pink Sheets: SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to announce its wholly owned subsidiary Capital Award, Inc. has placed its first order of fingerlings for its Demonstration Fish Farm in EnPing City, GuangDong Province, China.

“As a demonstration project, the EnPing farm will display the economic viability, efficiency and performance of our technology and management systems’ reliability, applicability and adaptability to the China market. Once complete the Company expects to begin generating income from upfront franchising fees prior to full production.”

The Company currently expects delivery of over 300,000 fingerlings by November 2010 to begin stocking its fishery operations. All site work has been completed and equipment ordered. The Company has signed the necessary contracts to commence construction in a two phase effort. All legal documents related to the Sino joint Venture Company are currently being filed with the relevant authorities.

Phase one construction, which is expected to be completed by September 2010, will allow up to 250 metric tons of fish to be produced annually. Phase two construction will add an additional 250 metric tons of production by January 2011 bringing the total expected annual output to 500 metric tons by 2012. Fish sales are expected to commence in July 2011 with production year round. The primary product will be “Sleepy Cod” of which market research by the Company has shown an ability to produce up to 10,000 metric tons without affecting the market price in China. Current wholesale market pricing for “Sleepy Cod” is approximately $25 USD per kilogram, or $25,000 USD per metric ton. This particular fish species is highly prized throughout China and other Asian markets. Demand is currently expected to exceed supply for “Sleepy Cod” over the next decade in China.

Mr. Lee Solomon, Sino Agro Food, Inc. CEO, stated, “As a demonstration project, the EnPing farm will display the economic viability, efficiency and performance of our technology and management systems’ reliability, applicability and adaptability to the China market. Once complete the Company expects to begin generating income from upfront franchising fees prior to full production.”

ABOUT SINO AGRO FOOD, INC.

Sino Agro Food, Inc. (“SIAF”) (http://www.sinoagrofood.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 Bio-Organic Fertilizer and Stock-Feed, as well as, fisheries, dairies, and Hylocereus Undatus plantations. SIAF’s products are produced to meet the high organic quality standards of the United Kingdom. SIAF is owner of a patented process; the conversion of corn stalk into high quality feed for livestock and is the “Master Licensee” for China with exclusive right to a patented Bacterial used in converting food based agriculture produce wastes into nutritional feed products that are also applicable in the manufacturing of Bio-Organic fertilizer. The Company also holds the “Master License” for China on a modern re-circulating Aquaculture Technology “A Power RAS Technology” that has the capacity to commercially grow quality table fish and seafood free from chemical and pollution in enclosed modules on land in a system designed to promote economic sustainability and viability. Currently the Company has total employment of 520 persons of which 60 are skilled and experienced management staff.

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