DGAP-News: Asian Bamboo AG: Q1 net profit up 79 percent

| Source: EQS Group AG EQS Group AG 

Asian Bamboo AG / Quarter Results

29.05.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Asian Bamboo reports strong first quarter results; a net profit of
EUR 1.64 million and an adjusted net profits of EUR 5.3 million, up
79% and 477% respectively compared to the same period last year

Hamburg, 29 May, 2008 - Asian Bamboo AG ('Asian Bamboo', Ticker Symbol
'5AB') today announces its first quarter results for 2008. Key performance
highlights are:

  - Revenue reached EUR 7.8 million, up 208% yoy 

  - Adjusted net profit, excluding gains from changes in value of
    biological assets and taxes thereon, of EUR 5.3 million, up 477% yoy

  - Adjusted net profit per share of EUR 0.42 up 500% yoy

  - Net profit of EUR 1.64 million up 79% yoy

  - Total size of plantations reached 24,715 ha, up 69% compared to the end
of last year

  - Size of mature plantations (ha) 15,942 up 171% compared to the end of
    last year

The Company's sharp increase in turnover and adjusted net profit was
primarily driven by an addition of mature bamboo plantation acreage,
together with a general increase in the demand for bamboo shoots and rising
unit prices.

The gross profit margin increased from 40% in Q1 2007 to 68.1% in Q1 2008,
due to higher unit prices and a change in the Company’s product mix in
favor of fresh shoots, which contributed 88% of the total sales volume in
Q1 2008, compared to 48% during the same period in Q1 2007. Asian Bamboo
Group earns significantly higher gross profit margins on fresh shoots than
on processed shoots.

Lin Zuojun, CEO of Asian Bamboo, commented: 'We are pleased with our
operational performance in Q1 and we are on track to exceeding our
performance targets for the full year. However, we would like to emphasize
that although the gross and adjusted net profit margins for the full year
are likely to remain high, they may not be as high as in the first quarter,
which were helped by a combination of seasonal factors and the effects on
supply caused by the winter storms in January.'

In its outlook the management states that it expects the turnover for the
full year 2008 to exceed EUR 45 million and that the adjusted consolidated
net profit margin, excluding revaluation gains and deferred tax thereto of
biological assets, will be at least 40 pct. The Management Board will
propose a dividend, in line with the Company’s profitability in 2008, to be
distributed in 2009.'

The Q1 report, both in a German and English version, can be accessed on: 

English:
http://www.asian-bamboo.de/en/investor_relations/publikationen.html

German: 
http://www.asian-bamboo.de/de/investor_relations/publikationen.html

For further information, please contact:

Asian Bamboo:

Zhao Tong   +852-9011 8258

Head of Investor Relations

Brunswick Group:      

Peter Sjovall   +852-9385 3868
Director, Hong Kong

Hartmut Schumacher  +49-69-24005519
Director, Frankfurt

About Asian Bamboo AG

Asian Bamboo Group is a leading producer of bamboo trees and organic bamboo
shoots in China. Bamboo trees are used in a variety of applications such as
flooring, construction and furniture and bamboo shoots are either sold
fresh or processed as organic food. The vast majority of the Company’s
products are sold in China, however processed bamboo shoots are also
exported to Japan.

The Company signs long-term leases with land owners and currently owns the
rights to 18 bamboo plantations comprising a total acreage of more than
24,700 ha in the Fujian Province, which is one of the main areas for
growing bamboo in the People’s Republic of China.

Asian Bamboo Group’s registered office is located in Hamburg, Germany and
the Company is listed on the Frankfurt Stock Exchange. In FY 2007 Asian
Bamboo Group generated revenues of €14.7 million and an adjusted net profit
of € 6.7 million. As of 31 December 2007, Asian Bamboo Group had
approximately 300 employees.

Further information on Asian Bamboo AG, please visit the Company’s web-site
at: www.asian-bamboo.com



Contact:
BRUNSWICK
Tong Zhao
Phone: 00852-9011 8258
Fax: 00852-2259 9008
tzhao@brunswickgroup.com


DGAP 29.05.2008 
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Language:     English
Issuer:       Asian Bamboo AG
              Stadthausbrücke 1-3
              20355 Hamburg
              Deutschland
Phone:        +49 40 37644 798
Fax:          +49 40 37644 500
E-mail:       cornelia.dieker@asian-bamboo.de
Internet:     www.asian-bamboo.de
ISIN:         DE000A0M6M79, DE000A0M6M79
WKN:          A0M6M7, A0M6M7
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
End of News                                     DGAP News-Service
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