BEIJING and CLAREMONT, Calif., Sept. 16, 2008 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTCBB:KWBT) reports that on September 5th, Kiwa's product "Fu Di Kang" Organic Matter-decomposing Inoculant was the successful tender for the Public Bidding of "Straw-decomposing Inoculant Sourcing for 2008 National Soil Organic Matter Advancement Subsidy Project."
This project was funded by the government, and was carried out on an approximately 270 hectare demonstration area in Handan of Hebei Province. The public bidding was held by the General Soil and Fertilizer Station of Hebei Province and appraised by the Expert Assessment Committee. Kiwa was the first of two companies to win a tender.
The Soil Organic Matter Advancement Subsidy Project is a government program with a goal of improving soil structure. The Chinese Ministry of Agriculture initiated the program in 13 provinces or Municipalities to carry on the experiments, and promote the projects implementation with appropriate governmental support. All Organic Matter-decomposing Inoculant for these projects will be purchased in the manner of government procurement and public bidding.
Mr. Wei Li, the CEO of Kiwa stated, "Fu Di Kang Organic Matter-decomposing Inoculant is one of Kiwa's certificated organic products. It has now been tested and has demonstrated significant outcomes in Hebei, Liaoning, Hubei, Hunan, Jiangsu and elsewhere. This successful bid indicates that our product has obtained favorable recognition from general users and fertilizer management authorities. Currently Kiwa is actively taking part in the Straw-decomposing Inoculants Public Bidding process in other provinces, and we are hopeful that we will attain more orders from regional and local government agencies."
ABOUT KIWA BIO-TECH PRODUCTS GROUP
The Company develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. The Company has acquired the rights to manufacture and market AF-01 Anti-viral Aerosol Agent for use in preventing (blocking) bird-flu disease in Chinese and international markets. The Company has excellent relations with government authorities in China and has developed several innovative, high margin products, while continuing to grow through internal and external product development. The Company's products are designed to enhance the quality of human life by increasing the value, quality and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. For more information about the Company, please review documents filed with the SEC (www.sec.gov) or visit the Company's website at www.kiwabiotech.com and www.kiwabiotech.net.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward- looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.