August 23, 2011

China's meat and food processor Zhongpin announced that it has repurchased 460,600 shares of its common stock since August 9, under the company's stock repurchase programme using internally available cash.

Chairman and Chief Executive Officer Xianfu Zhu said, "We are fully committed to creating long-term value for shareholders, primarily through our pork and food operations and, occasionally, through repurchases of our shares in the market, subject to the approval of our board of directors. Thanks to our strong cash position, we are confident that we can both execute this stock repurchase programme and invest in our future growth in a timely manner."

Zhongpin's board of directors will periodically review the share repurchase programme and may authorise adjustments to the programme's terms and size. The board may also suspend or discontinue the repurchase programme at any time.

Under the stock repurchase programme, Zhongpin is authorised to repurchase up to US$10 million of its issued and outstanding common shares, from time to time, in open-market transactions on Nasdaq at prevailing market prices, in negotiated transactions off the market, in block trades, in trades pursuant to a Rule 10b5-1 repurchase plan that allows Zhongpin to repurchase its shares during periods in which it may be in possession of material non-public information, or otherwise, in accordance with applicable federal securities laws, including Rule 10b-18.

Zhongpin is a meat and food processing company that specialises in pork and pork products, vegetables, and fruits in China.