FEED

[BigSully1]

AgFeed Industries, Inc.
1095 Qing Lan Avenue
Economic and Technical Development Zone
Nan Chang City,  330013
China - Map
Phone: 86 79 1218 9878
Web Site: http://www.agfeedinc.com

DETAILS   
Index Membership: N/A
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Full Time Employees: NaN


BUSINESS SUMMARY   
AgFeed Industries, Inc., through its subsidiaries, engages in the research and development, manufacture, marketing, and sale of fodder and blended feed for use in the domestic animal husbandry markets in the People's Republic of China. The company also involves in raising, breeding, and selling hogs for use in China's pork production and hog breeding markets. Its products primarily include additive premix fodder for use in all stages of a pig's life, and blended feeds for the infant stage of a pig's life. In addition, AgFeed produces three brands of premixed chicken feed. It offers its products primarily to distributors and large scale pig farms. The company was incorporated in 1995 and is headquartered in Nanchang City, the People's Republic of China.
-----------------------------------------------------------------------------------------------

AgFeed Industries Reports Record Fiscal 2007 Financial Results, Growth in Net Income of More Than 450%, Affirms 2008 Financial Guidance
Wednesday March 12, 6:00 am ET


SHANGHAI, CHINA--(MARKET WIRE)--Mar 12, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a market leader in China's premix animal nutrition and hog raising industry, today announced record sales and earnings for 2007, primarily from the production and sale of premix animal feed products. AgFeed entered the hog production industry in November 2007 through the acquisition of a breeder hog farm. AgFeed sales in 2007 from hog production were not material.
The following are some of the key financial highlights of the Company for the fiscal year ended December 31, 2007.

FINANCIAL HIGHLIGHTS:



--  Revenues grew 321% to approximately $36.16 million from $8.59 million
    in 2006.
--  Gross profit increased to $10.40 million from $3.15 million in 2006.
--  Net income grew 467% to $6.66 million from $1.18 million in 2006.
--  Earnings per share (basic) of $0.26, is an increase of 271% compared
    to 2006.
--  Earnings per share (fully diluted) of $0.25, represents an increase of
    257% from 2006.
--  Comprehensive income of $7.33 million increased by 482% compared to
    2006.
--  As of December 31, 2007, AgFeed had approximately $7.7 million in cash
    with no long term debt.
ADVERTISEMENT



Songyan Li, Chairman of AgFeed, commented, "In early 2007, AgFeed projected record sales and earnings for fiscal year 2007. We have delivered such results. AgFeed is now the largest premix animal feed company in China in terms of sales in a highly fragmented industry. We anticipate our feed business will continue to grow at a significant rate in 2008. We also anticipate doubling our independently owned exclusive AgFeed product chain stores to 1,000 stores in 2008."

Dr. Li continued, "Our feed segment and hog production are vertically integrated to produce the maximum efficiency between our two business lines. AgFeed's in-depth knowledge about the feed and hog raising industries, sufficient funding, favorable market environment and high quarantine standards at our hog farms will position AgFeed as a well managed, highly profitable market leader in China's vast feed and hog raising industries. We look forward to another year of success in 2008."

SUBSEQUENT EVENTS



--  In December/January 2008, the Chinese government granted the hog
    raising industry perpetual income tax free status, along with government
    grants and subsidies in light of severe hog shortage problems in China.
--  In January 2008, AgFeed acquired a majority interest in five
    commercial hog farms. Currently, AgFeed owns six hog farms and anticipates
    that its annual hog production at these facilities will reach 120,000 hogs
    in 2008.
--  In January 2008, Mr. Robert Rittereiser became the Chairman of
    AgFeed's Advisory Board to advise the Company's strategic initiatives. Mr.
    Rittereiser is the former CFO and Chief Administrative Officer of Merrill
    Lynch and former President and CEO of E.F. Hutton & Co. Mr. Rittereiser
    joins Edward McMillan as a key strategic advisor to AgFeed.  Mr. McMillan
    served as President and Chief Executive Officer of Purina Mills Inc., the
    United States' largest manufacturer and distributor of animal nutrition
    products, from 1988 until 1996.
--  In March 2008, the Company completed a $41 million financing through
    AgFeed's financial advisor, Deutsche Bank Securities, Inc.

SUCCESSFUL INTEGRATION OF OUR RECENT HOG FARM ACQUISITIONS

In January 2008, AgFeed acquired the majority ownership in five producing commercial hog farms with an estimated aggregate annual hog production capability of 100,000. AgFeed has successfully integrated these businesses within the last two months. By April 2008, AgFeed anticipates acquiring several additional hog farms that will enable the Company to reach its previously announced fiscal 2008 hog production target of 400,000. This would rank AgFeed as the 2nd largest commercial hog farm owner in China.

AGFEED AFFIRMS FISCAL YEAR 2008 FINANCIAL GUIDANCE

AgFeed believes the Company has sufficient capital to achieve its previously guided 2008 financial performance as follows:



--  Revenues are estimated to be about $135 million which would represent
    an approximate increase of over 250% from the previous year.
--  Net income is estimated to increase by around 350% to approximately
    $30 to $33 million over 2007.
--  Earnings per share (EPS) on a fully diluted basis would be between
    $0.96 and $1.10.
--  Favorable foreign exchange rate could benefit AgFeed. The Company has
    used an exchange ratio of RMB7.18 to US$1 in its 2008 guidance. Currently,
    the exchange rate is RMB7.10 to US$1.
--  Live hogs are sold in China based on a hog's weight. AgFeed's
    commercially produced hogs weigh on average between 100 and 110 kilos. The
    Company's revenue estimates are based on RMB8 per half a kilo, which is
    below the current live hog market price of more than RMB9 per half a kilo.
    Due to an increased demand for pork related to China's Summer Olympics and
    the continuing hog supply shortage, AgFeed anticipates that China's hog
    prices will remain high in 2008.

About AgFeed Industries, Inc.

Through its China-based operating subsidiaries, NASDAQ-listed AgFeed Industries (www.agfeedinc.com) is a market leader in China's fast growing pre-mix animal feed and hog raising industries. The pre-mix market in which Agfeed operates is an approximately $1.6 billion segment of China's $40 billion per year animal feed market, according to the China Feed Industry Association. There are approximately 600 million hogs raised in China each year, compared to approximately 100 million in the U.S. Approximately 75% of China's total hog supply is from backyard individual hog farmers, while approximately 65% of China's total meat consumption is pork.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. AgFeed's actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect AgFeed's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in AgFeed's filings with the Securities and Exchange Commission.



                 AGFEED INDUSTRIES, INC. AND SUBSIDIARIES
                          CONDENSED BALANCE SHEET
                     AS OF DECEMBER 31, 2007 AND 2006


                                             December 31,    December 31,
                                                 2007            2006
                                           --------------- ---------------
Total current assets                       $    18,077,928 $     5,335,752
Total assets                                    23,070,265       7,265,831
Total current liabilities                        3,569,738       3,890,004
Total stockholders' equity                      19,500,526       3,375,827




                 AGFEED INDUSTRIES, INC. AND SUBSIDIARIES
                      CONDENSED STATEMENTS OF INCOME
           FOR THE YEARS ENDED DECEMBER 31, 2007, 2006 AND 2005


                                           Years Ended December 31,
                                     --------------------------------------
                                         2007          2006        2005
                                     ------------ ------------ ------------

Net Revenue                          $ 36,163,339 $  8,594,876 $ 7,611,845
Cost of Revenue                        25,763,479    5,446,332   5,339,067
Gross profit                           10,399,860    3,148,544   2,272,778
Total operating expenses                4,079,089    2,114,650   1,392,007
Total non-operating income (expense)      148,921       41,000     (47,655)
Net income                              6,662,895    1,175,280     560,706
------------------------------------------------------------------------------------------------------

AgFeed Industries Receives Hog Export License for the Hong Kong Market and AgFeed Experiences Higher Than Estimated Profit Margins From Hog Sales
Monday March 17, 6:00 am ET


Hog Prices in China Have Reached Historical Highs Due to Hog Shortage While the Cost of Hog Feed Remains Stable


SHANGHAI, CHINA--(MARKET WIRE)--Mar 17, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a market leader in China's premix animal nutrition and hog raising industry, today announces that one of AgFeed's hog farms, the Wannian Xiandai hog farm, has been granted a direct export license by the Chinese Ministry of Commerce for hog export to the Hong Kong market.
ADVERTISEMENT


Hong Kong is one of China's most prominent international cities. The export license allows AgFeed to directly supply hogs to the Hong Kong market. Hong Kong typically commands the highest quarantine standards during the hog production process as well as pays premium prices for hogs to those producers that have met stringent quality requirements.

Due to continued hog shortage in China, hog prices have recently reached historical highs. AgFeed is currently selling its hogs at approximately $250 per hog, which is higher than the Company's previously estimated $221 per hog.

AgFeed has also observed that the cost of corn, which is a major hog feed component, has remained stable despite rising hog prices. China's hog raising industry is an income tax exempt business.

Songyang Li, PhD., Chairman of AgFeed commented: "AgFeed's hog raising business benefits from a favorable market environment and expanded profit margins due to China's severe hog shortage. We anticipate China's hog shortage to continue throughout 2008. We are on track to complete our planned hog farm acquisitions by mid April towards our target of producing 400,000 hogs for sale in 2008."

About AgFeed Industries, Inc.
--------------------------------------------------------------------------------------



AgFeed Industries Expands Its Agricultural Product Distribution Platform in China Through Its 630th Independently Owned Exclusive Retail Chain Store
Thursday March 20, 6:05 am ET


AgFeed Is on Track to Have a Total of 1,000 Independently Owned Chain Stores in 2008


SHANGHAI, CHINA--(MARKET WIRE)--Mar 20, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a market leader in China's premix feed and hog raising industry, today announces that the 630th independently owned exclusive premix feed product distribution chain store has opened in China. At the end of 2007, there were 503 stores.
ADVERTISEMENT


Since January 2007, AgFeed has developed a highly effective retail product sales channel of distributing premix feed through independently owned stores across China. These stores exclusively market AgFeed premix products to end users including small and medium-sized hog farms and individual hog farmers. Approximately 75% of China's 600 million annual hog production is supplied by individual backyard farmers.

Comments by Songyan Li, Ph.D., AgFeed's Chairman: "As China's hog prices have reached historical highs, AgFeed benefits from growth in both of our integrated businesses -- premix animal feed and hog production. Our independently owned retail chain stores have become an effective distribution platform, selling AgFeed's and potentially cross selling other global companies' agricultural products in the vast Chinese agricultural markets. We believe our premix feed distribution channel represents significant enterprise value for our shareholders. We are on track to have a total of 1,000 independently owned chain stores by the end of 2008."
--------------------------------------------------------------------------------------------

AgFeed Industries Engages Leading US Hog Industry Experts to Explore Strategic Options as a Platform for Access to China's Vast Feed and Hog Raising Markets
Monday March 24, 11:05 am ET


NEW YORK, NY--(MARKET WIRE)--Mar 24, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a leader in China's premix feed and hog raising industry, announced today that the Company has engaged a leading US agricultural expert, Spectrum Agribusiness, led by senior industry executives Dennis Harms and Gerry Daignault, to advise AgFeed in pursuing opportunities with selected global agricultural companies to provide them with entry into the China market.
ADVERTISEMENT


Founded 13 years ago by founders/managers, AgFeed has two integrated profitable business lines in China: premix animal feed and hog production. AgFeed is currently the largest premix feed company in China in terms of revenues and intends to expand its hog production through multiple acquisitions in 2008.

Dennis Harms, CEO of Spectrum Agribusiness, commented: "China represents tremendous opportunities for global companies in the feed and hog production industries. Developing the right relationships to access the Chinese markets is key and AgFeed with its foot print and private sector ownership structure represents a unique opportunity. With a solid management team already in place, its transparency and accountability as a NASDAQ company, AgFeed provides an ideal shortcut for companies that are considering entry into China."

Songyan Li, Ph.D., AgFeed's Chairman, said: "AgFeed intends to pursue strategic discussions with various global companies that have expressed an interest in entering China. The engagement of Spectrum Agribusiness will help us explore the best strategic fit. We trust and rely on our advisors. While we continue to focus on achieving or exceeding our plans, AgFeed intends to explore all possibilities that would enhance our shareholders value."

About Spectrum Agribusiness and its Founders Dennis W. Harms and Gerry Daignault

Spectrum Agribusiness provides strategic guidance to leaders in the food and agriculture industries globally, advising corporate boards and CEOs with industry repositioning strategies and the execution of successful acquisitions. The Company also engages in operational and organization reviews along with temporary CEO/CFO assignments. Founded by former industry executives Dennis Harms and Gerry Daignault, the firm has more than 50 years of experience in agribusiness. After working for 15 years in a variety of positions with Cargill and Central Soya, Mr. Harms founded Premium Standard Farms ("PSF"). He led the company as CEO for ten years and grew from startup to $450 million in revenue with more than 2,600 employees. PSF is recognized as one of the premiere pork production companies worldwide and was acquired in 2006 by US hog industry leader Smithfield Foods (NYSE:SFD - News) for approximately $800 million. Mr. Daignault has 26+ years of experience in financial and managerial positions including 18 years at the CFO level for domestic and international agribusiness. (www.spectrumagribusiness.com)

About AgFeed Industries, Inc.
-------------------------------------------------------------------------------

[BigSully1]

It's a great sector to be in ......

AgFeed Industries, Inc.
1095 Qing Lan Avenue
Economic and Technical Development Zone
Nan Chang City,  330013
China - Map
Phone: 86 79 1218 9878
Web Site: http://www.agfeedinc.com

DETAILS   
Index Membership: N/A
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Full Time Employees: NaN


BUSINESS SUMMARY   
AgFeed Industries, Inc., through its subsidiaries, engages in the research and development, manufacture, marketing, and sale of fodder and blended feed for use in the domestic animal husbandry markets in the People's Republic of China. The company also involves in raising, breeding, and selling hogs for use in China's pork production and hog breeding markets. Its products primarily include additive premix fodder for use in all stages of a pig's life, and blended feeds for the infant stage of a pig's life. In addition, AgFeed produces three brands of premixed chicken feed. It offers its products primarily to distributors and large scale pig farms. The company was incorporated in 1995 and is headquartered in Nanchang City, the People's Republic of China.
-----------------------------------------------------------------------------------------------

AgFeed Industries Reports Record Fiscal 2007 Financial Results, Growth in Net Income of More Than 450%, Affirms 2008 Financial Guidance
Wednesday March 12, 6:00 am ET


SHANGHAI, CHINA--(MARKET WIRE)--Mar 12, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a market leader in China's premix animal nutrition and hog raising industry, today announced record sales and earnings for 2007, primarily from the production and sale of premix animal feed products. AgFeed entered the hog production industry in November 2007 through the acquisition of a breeder hog farm. AgFeed sales in 2007 from hog production were not material.
The following are some of the key financial highlights of the Company for the fiscal year ended December 31, 2007.

FINANCIAL HIGHLIGHTS:



--  Revenues grew 321% to approximately $36.16 million from $8.59 million
    in 2006.
--  Gross profit increased to $10.40 million from $3.15 million in 2006.
--  Net income grew 467% to $6.66 million from $1.18 million in 2006.
--  Earnings per share (basic) of $0.26, is an increase of 271% compared
    to 2006.
--  Earnings per share (fully diluted) of $0.25, represents an increase of
    257% from 2006.
--  Comprehensive income of $7.33 million increased by 482% compared to
    2006.
--  As of December 31, 2007, AgFeed had approximately $7.7 million in cash
    with no long term debt.
ADVERTISEMENT



Songyan Li, Chairman of AgFeed, commented, "In early 2007, AgFeed projected record sales and earnings for fiscal year 2007. We have delivered such results. AgFeed is now the largest premix animal feed company in China in terms of sales in a highly fragmented industry. We anticipate our feed business will continue to grow at a significant rate in 2008. We also anticipate doubling our independently owned exclusive AgFeed product chain stores to 1,000 stores in 2008."

Dr. Li continued, "Our feed segment and hog production are vertically integrated to produce the maximum efficiency between our two business lines. AgFeed's in-depth knowledge about the feed and hog raising industries, sufficient funding, favorable market environment and high quarantine standards at our hog farms will position AgFeed as a well managed, highly profitable market leader in China's vast feed and hog raising industries. We look forward to another year of success in 2008."

SUBSEQUENT EVENTS



--  In December/January 2008, the Chinese government granted the hog
    raising industry perpetual income tax free status, along with government
    grants and subsidies in light of severe hog shortage problems in China.
--  In January 2008, AgFeed acquired a majority interest in five
    commercial hog farms. Currently, AgFeed owns six hog farms and anticipates
    that its annual hog production at these facilities will reach 120,000 hogs
    in 2008.
--  In January 2008, Mr. Robert Rittereiser became the Chairman of
    AgFeed's Advisory Board to advise the Company's strategic initiatives. Mr.
    Rittereiser is the former CFO and Chief Administrative Officer of Merrill
    Lynch and former President and CEO of E.F. Hutton & Co. Mr. Rittereiser
    joins Edward McMillan as a key strategic advisor to AgFeed.  Mr. McMillan
    served as President and Chief Executive Officer of Purina Mills Inc., the
    United States' largest manufacturer and distributor of animal nutrition
    products, from 1988 until 1996.
--  In March 2008, the Company completed a $41 million financing through
    AgFeed's financial advisor, Deutsche Bank Securities, Inc.

SUCCESSFUL INTEGRATION OF OUR RECENT HOG FARM ACQUISITIONS

In January 2008, AgFeed acquired the majority ownership in five producing commercial hog farms with an estimated aggregate annual hog production capability of 100,000. AgFeed has successfully integrated these businesses within the last two months. By April 2008, AgFeed anticipates acquiring several additional hog farms that will enable the Company to reach its previously announced fiscal 2008 hog production target of 400,000. This would rank AgFeed as the 2nd largest commercial hog farm owner in China.

AGFEED AFFIRMS FISCAL YEAR 2008 FINANCIAL GUIDANCE

AgFeed believes the Company has sufficient capital to achieve its previously guided 2008 financial performance as follows:



--  Revenues are estimated to be about $135 million which would represent
    an approximate increase of over 250% from the previous year.
--  Net income is estimated to increase by around 350% to approximately
    $30 to $33 million over 2007.
--  Earnings per share (EPS) on a fully diluted basis would be between
    $0.96 and $1.10.
--  Favorable foreign exchange rate could benefit AgFeed. The Company has
    used an exchange ratio of RMB7.18 to US$1 in its 2008 guidance. Currently,
    the exchange rate is RMB7.10 to US$1.
--  Live hogs are sold in China based on a hog's weight. AgFeed's
    commercially produced hogs weigh on average between 100 and 110 kilos. The
    Company's revenue estimates are based on RMB8 per half a kilo, which is
    below the current live hog market price of more than RMB9 per half a kilo.
    Due to an increased demand for pork related to China's Summer Olympics and
    the continuing hog supply shortage, AgFeed anticipates that China's hog
    prices will remain high in 2008.

About AgFeed Industries, Inc.

Through its China-based operating subsidiaries, NASDAQ-listed AgFeed Industries (www.agfeedinc.com) is a market leader in China's fast growing pre-mix animal feed and hog raising industries. The pre-mix market in which Agfeed operates is an approximately $1.6 billion segment of China's $40 billion per year animal feed market, according to the China Feed Industry Association. There are approximately 600 million hogs raised in China each year, compared to approximately 100 million in the U.S. Approximately 75% of China's total hog supply is from backyard individual hog farmers, while approximately 65% of China's total meat consumption is pork.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. AgFeed's actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect AgFeed's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in AgFeed's filings with the Securities and Exchange Commission.



                 AGFEED INDUSTRIES, INC. AND SUBSIDIARIES
                          CONDENSED BALANCE SHEET
                     AS OF DECEMBER 31, 2007 AND 2006


                                             December 31,    December 31,
                                                 2007            2006
                                           --------------- ---------------
Total current assets                       $    18,077,928 $     5,335,752
Total assets                                    23,070,265       7,265,831
Total current liabilities                        3,569,738       3,890,004
Total stockholders' equity                      19,500,526       3,375,827




                 AGFEED INDUSTRIES, INC. AND SUBSIDIARIES
                      CONDENSED STATEMENTS OF INCOME
           FOR THE YEARS ENDED DECEMBER 31, 2007, 2006 AND 2005


                                           Years Ended December 31,
                                     --------------------------------------
                                         2007          2006        2005
                                     ------------ ------------ ------------

Net Revenue                          $ 36,163,339 $  8,594,876 $ 7,611,845
Cost of Revenue                        25,763,479    5,446,332   5,339,067
Gross profit                           10,399,860    3,148,544   2,272,778
Total operating expenses                4,079,089    2,114,650   1,392,007
Total non-operating income (expense)      148,921       41,000     (47,655)
Net income                              6,662,895    1,175,280     560,706
------------------------------------------------------------------------------------------------------

AgFeed Industries Receives Hog Export License for the Hong Kong Market and AgFeed Experiences Higher Than Estimated Profit Margins From Hog Sales
Monday March 17, 6:00 am ET


Hog Prices in China Have Reached Historical Highs Due to Hog Shortage While the Cost of Hog Feed Remains Stable


SHANGHAI, CHINA--(MARKET WIRE)--Mar 17, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a market leader in China's premix animal nutrition and hog raising industry, today announces that one of AgFeed's hog farms, the Wannian Xiandai hog farm, has been granted a direct export license by the Chinese Ministry of Commerce for hog export to the Hong Kong market.
ADVERTISEMENT


Hong Kong is one of China's most prominent international cities. The export license allows AgFeed to directly supply hogs to the Hong Kong market. Hong Kong typically commands the highest quarantine standards during the hog production process as well as pays premium prices for hogs to those producers that have met stringent quality requirements.

Due to continued hog shortage in China, hog prices have recently reached historical highs. AgFeed is currently selling its hogs at approximately $250 per hog, which is higher than the Company's previously estimated $221 per hog.

AgFeed has also observed that the cost of corn, which is a major hog feed component, has remained stable despite rising hog prices. China's hog raising industry is an income tax exempt business.

Songyang Li, PhD., Chairman of AgFeed commented: "AgFeed's hog raising business benefits from a favorable market environment and expanded profit margins due to China's severe hog shortage. We anticipate China's hog shortage to continue throughout 2008. We are on track to complete our planned hog farm acquisitions by mid April towards our target of producing 400,000 hogs for sale in 2008."

About AgFeed Industries, Inc.
--------------------------------------------------------------------------------------



AgFeed Industries Expands Its Agricultural Product Distribution Platform in China Through Its 630th Independently Owned Exclusive Retail Chain Store
Thursday March 20, 6:05 am ET


AgFeed Is on Track to Have a Total of 1,000 Independently Owned Chain Stores in 2008


SHANGHAI, CHINA--(MARKET WIRE)--Mar 20, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a market leader in China's premix feed and hog raising industry, today announces that the 630th independently owned exclusive premix feed product distribution chain store has opened in China. At the end of 2007, there were 503 stores.
ADVERTISEMENT


Since January 2007, AgFeed has developed a highly effective retail product sales channel of distributing premix feed through independently owned stores across China. These stores exclusively market AgFeed premix products to end users including small and medium-sized hog farms and individual hog farmers. Approximately 75% of China's 600 million annual hog production is supplied by individual backyard farmers.

Comments by Songyan Li, Ph.D., AgFeed's Chairman: "As China's hog prices have reached historical highs, AgFeed benefits from growth in both of our integrated businesses -- premix animal feed and hog production. Our independently owned retail chain stores have become an effective distribution platform, selling AgFeed's and potentially cross selling other global companies' agricultural products in the vast Chinese agricultural markets. We believe our premix feed distribution channel represents significant enterprise value for our shareholders. We are on track to have a total of 1,000 independently owned chain stores by the end of 2008."
--------------------------------------------------------------------------------------------

AgFeed Industries Engages Leading US Hog Industry Experts to Explore Strategic Options as a Platform for Access to China's Vast Feed and Hog Raising Markets
Monday March 24, 11:05 am ET


NEW YORK, NY--(MARKET WIRE)--Mar 24, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a leader in China's premix feed and hog raising industry, announced today that the Company has engaged a leading US agricultural expert, Spectrum Agribusiness, led by senior industry executives Dennis Harms and Gerry Daignault, to advise AgFeed in pursuing opportunities with selected global agricultural companies to provide them with entry into the China market.
ADVERTISEMENT


Founded 13 years ago by founders/managers, AgFeed has two integrated profitable business lines in China: premix animal feed and hog production. AgFeed is currently the largest premix feed company in China in terms of revenues and intends to expand its hog production through multiple acquisitions in 2008.

Dennis Harms, CEO of Spectrum Agribusiness, commented: "China represents tremendous opportunities for global companies in the feed and hog production industries. Developing the right relationships to access the Chinese markets is key and AgFeed with its foot print and private sector ownership structure represents a unique opportunity. With a solid management team already in place, its transparency and accountability as a NASDAQ company, AgFeed provides an ideal shortcut for companies that are considering entry into China."

Songyan Li, Ph.D., AgFeed's Chairman, said: "AgFeed intends to pursue strategic discussions with various global companies that have expressed an interest in entering China. The engagement of Spectrum Agribusiness will help us explore the best strategic fit. We trust and rely on our advisors. While we continue to focus on achieving or exceeding our plans, AgFeed intends to explore all possibilities that would enhance our shareholders value."

About Spectrum Agribusiness and its Founders Dennis W. Harms and Gerry Daignault

Spectrum Agribusiness provides strategic guidance to leaders in the food and agriculture industries globally, advising corporate boards and CEOs with industry repositioning strategies and the execution of successful acquisitions. The Company also engages in operational and organization reviews along with temporary CEO/CFO assignments. Founded by former industry executives Dennis Harms and Gerry Daignault, the firm has more than 50 years of experience in agribusiness. After working for 15 years in a variety of positions with Cargill and Central Soya, Mr. Harms founded Premium Standard Farms ("PSF"). He led the company as CEO for ten years and grew from startup to $450 million in revenue with more than 2,600 employees. PSF is recognized as one of the premiere pork production companies worldwide and was acquired in 2006 by US hog industry leader Smithfield Foods (NYSE:SFD - News) for approximately $800 million. Mr. Daignault has 26+ years of experience in financial and managerial positions including 18 years at the CFO level for domestic and international agribusiness. (www.spectrumagribusiness.com)
-------------------------------------------------------------------------------------------

[BigSully1]

VERY strong volume already today.

[BigSully1]

VERY strong volume already today

[BigSully1]

AgFeed Offers Piggyback Into Chinese Hog Market
Melinda Peer, 04.11.08, 8:20 PM ET

AgFeed Industries

AgFeed Offers Piggyback Into Chinese Hog Market
Melinda Peer, 04.11.08, 8:20 PM ET

Want to take little piggies to the Chinese market? AgFeed Industries is offering its Chinese hog and feed business as a platform for companies interested in entering the industry there.

In late March, AgFeed Industries (nasdaq: FEED - news - people ) hired Spectrum Agribusiness to help it pursue opportunities with global agriculture companies looking to enter China's feed and hog market.

The company's shares, which have been rising all year, went hog wild Friday, packing on an extra $1.20, or 9.1%, to close at $14.45.

Agfeed operates two product segments in China. Its premix animal feed line is China's largest in terms of sales, and the company is expanding its hog production unit through acquisitions. With Spectrum's help, Agfeed has offered its business as a platform for access to China's thriving feed and hog-raising markets.

"Agfeed provides an ideal shortcut for companies that are considering entry into China," said Spectrum's chief executive, Dennis Harms. "China represents tremendous opportunities for global companies in the feed and hog production industries. Developing the right relationships to access the Chinese markets is key and Agfeed with its footprint and private sector ownership structure represents a unique opportunity," Harms said.

Agfeed said it has retained Spectrum, which provides guidance to agriculture companies on business repositioning and acquisitions, to help it find the best strategic fit. Spectrum Agribusiness gives strategic guidance to leaders in the food and agriculture industry, helping them with industry repositioning strategies and the execution of successful acquisitions.

China's population growth, emerging wealth, and predilection for pork could mean fat profits ahead for those dealing in swine. Like much of the world, China has been hit by inflated food prices. At the beginning of the year, its grain prices rose 5.7% from the previous year, and could continue to climb as biofuel production threatens to clean out crops. High-priced commodities strain both feed and livestock companies.

In January, China's pork prices also reached squealing highs, up 58.8% from a year earlier, which could make meat unaffordable to many consumers (See: " China Inflation Wafted To Fresh High By Harsh Winter").

China rears roughly 600 million hogs a year, compared with 100 million in the United States.

[BigSully1]

Another strong day, very high volume. Good place to be.

[BigSully1]

Another strong day, very high volume, great sector.

[BigSully1]

New alltime high. Huge volume again. Anyone else in? Hope so.

[BigSully1]

New high, huge volume

[David Randolph]

Analysis from the one analyst covering the stock:

AgFeed Industries, Inc. (NasdaqGM: FEED)

Event: Initiating coverage with a Buy rating.

An industry leader in the premix animal feed market. Entry into the hog raising business adds significant growth potential.

Summary: We are initiating coverage of AgFeed Industries, Inc. ("AgFeed") with a Buy rating. AgFeed is a leader in China's premix animal feed market. In light of the increasing pork demand and prices in China, the company entered into the hog raising business and is expanding aggressively. We believe AgFeed is well positioned to become a consolidator in China's fragmented hog raising industry and to benefit from the highly favorable market conditions. We expect its hog raising business to drive significant growth and the premix feed segment to maintain stable expansion. We project a CAGR of 136% in revenue and a CAGR
of 125% in EPS over the next two years. We expect to see continued multiple expansion as the company executes its strategies. We are establishing a oneyear price target of $18.00, based on a peer group forward P/E multiple of 14x.

Investment Considerations

Market leader in China's premix animal feed industry. With 12 years of industry experience, a recognized brand name, strong R&D capability demonstrated by customized formula and high quality products, multiple distribution channels and strong customer service, AgFeed has become a leader in the highly fragmented and fast growing premix feed market in China.

A rising consolidator in China's hog raising market. AgFeed is expanding aggressively in the hog raising industry through acquisitions, adding six farms in the last three months. We expect hog raising to be the main revenue driver, growing from zero in 2007 to $90MM in 2008 and $140MM in 2009. With strong experience in the feed industry, established relationships with large hog farms, synergy between the two businesses and capital support as a US listed company, AgFeed is evolving into a consolidator in the commercialization process of China's hog raising industry.

Highly favorable market condition. China contributes 50% of the worldwide pork production and is the largest pork consumer in the world. Pork is the meat of choice for a majority of Chinese people. Pork prices have reached multi-year highs due to increasing demand and a severe shortage of supply. Government granted favorable policies towards the hog raising industry, including income tax exemption and cash subsidies and encourages industry consolidation to improve productivity and stimulate supply. We believe AgFeed is well positioned to benefit from this highly favorable market condition.

Strong execution expected from a solid management team.

We believe AgFeed has one of the strongest management teams in the feed and hog raising industry. The young management team is comprised of the five founders who started the company 12 year ago, with both industry knowledge and management capability. The company's advisors include well regarded Wall Street veterans and world renowned experts in the animal feed and hog raising industry.

Establishing an $18.00 price target. We project significant revenue growth from $36MM in 2007 to $135MM in 2008 and $200MM in 2009. We estimate EPS to grow from $0.25 in 2007 to $0.96 in 2008 and $1.26 in 2009. As the company executes its strategies, we expect to see multiple expansion in the next 12 months. We are initiating coverage with a Buy rating and established a one-year price target of $18.00, based on a P/E multiple of 14x.

Personal comment: Target price was reached and the stock reacted negatively. I wonder by how much will the share count increase after this run up. $513 M market cap for $19 M in book value. Beautiful.

Good luck with FEED BigSully1, I'm open to add another lesson to my extensive book if the stock moves above $20 over the next 12 months.

[BigSully1]

Personal comment: Target price was reached and the stock reacted negatively. I wonder by how much will the share count increase after this run up. $513 M market cap for $19 M in book value. Beautiful.

Good luck with FEED BigSully1, I'm open to add another lesson to my extensive book if the stock moves above $20 over the next 12 months.
[/quote]

I wonder what date the analyst wrote? The best stocks are those that estimates and targets continually get raised, and those same stocks usually hold seemingly high P/E's for years as they continue to grow. Yes the share count will increase and the news was out Thursday morning, you didn't see it? otherwise the stock just might not have paused, even though it ran up 50% in 7 days. I even thought about selling some today because of dilution, but they are using the funds to fuel their highly aggressive growth, and I don't believe the market acted all that negatively about it at all, as could be expected, at least not yet.

I already have a very nice gain in it and plan to hold on to it.  Good luck with your picks also. Some of your picks could surprise me in 12 months also, I suppose.

AgFeed Industries Arranges $10 Million Equity Financing
Thursday April 17, 6:05 am ET


NEW YORK, NY--(MARKET WIRE)--Apr 17, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a leader in China's premix feed and hog raising industry, announced today that it had arranged for the sale of 625,000 shares of newly issued common stock for $16 per share under its Form S-3 Registration Statement, for total gross proceeds of $10 million.
The closing for this financing is expected to occur no later than Monday, April 21, 2008.

The Company intends to use the proceeds from this transaction to acquire additional producing commercial hog farms in China.

About AgFeed Industries, Inc.

Through its China-based operating subsidiaries, NASDAQ-listed AgFeed Industries (www.agfeedinc.com) is a market leader in China's fast growing pre-mix animal feed and hog raising industries. The pre-mix market in which Agfeed operates is an approximately $1.6 billion segment of China's $40 billion per year animal feed market, according to the China Feed Industry Association. There are approximately 600 million hogs raised in China each year, compared to approximately 100 million in the U.S.

[David Randolph]

I wonder what date the analyst wrote?

March 4, 2008.

The best stocks are those that estimates and targets continually get raised, and those same stocks usually hold seemingly high P/E's for years as they continue to grow.

I agree.

Yes the share count will increase and the news was out Thursday morning, you didn't see it?

No, I didn't see the news, I just figured there would be dilution, since they had very little cash comparable to the market cap. Besides, that's what most Chinese companies do after a meaningful run up. So it has started, huh?

otherwise the stock just might not have paused, even though it ran up 50% in 7 days. I even thought about selling some today because of dilution, but they are using the funds to fuel their highly aggressive growth, and I don't believe the market acted all that negatively about it at all, as could be expected, at least not yet.

Yes ... well, I've been reading some more about their expansion plans and all those new stores opening in China. The story reminds me of JADE, remember that one? The method for dilution seems to be similar, a very strong growth story supported by guidance and an analyst coverage, with hundreds of stores opening in China.

JADE run up from $4 or so to $12 in a couple of months, then it spent 5 full months building a long term top and then it abruptly fell back down below previous lows, check it out:



Now, FEED can be different, but looking at the market cap ($500 M plus) and the balance sheet  I believe fundamentals absolutely don't support the run up in the share price. All bulls have is guidance, which can change meaningfully or don't be met at all.

Food and agricultural products are hot now, just like precious metals were hot at JADE's run up.

I'm not saying FEED won't double from here, I'm saying its long term investment story is suspicious to me and it's possible that the stock will be at, say, $5 in twelve months time, like it was twelve months ago.

I already have a very nice gain in it and plan to hold on to it.

Yes, of course, I wasn't trying to change your stance (which is probably more accurate than mine), I just wanted to express my point of view, which in this case is divergent from yours.

Good luck

[la-onda]

awesome chart

[BigSully1]

Personal comment: Target price was reached and the stock reacted negatively. I wonder by how much will the share count increase after this run up. $513 M market cap for $19 M in book value. Beautiful.

Good luck with FEED BigSully1, I'm open to add another lesson to my extensive book if the stock moves above $20 over the next 12 months.
[/quote

What do you think of it passing $20 on high volume in just 2 or 3 days since you wrote? It will will be a lesson to add to your extensive book in alot sooner than than 12 months.

[BigSully1]

AgFeed Industries Arranges $25.2 Million Equity Financing
Wednesday April 23, 6:05 am ET


NEW YORK, NY--(MARKET WIRE)--Apr 23, 2008 -- AgFeed Industries, Inc. (NasdaqGM:FEED - News), a leader in China's premix feed and hog raising industry, announced today that it had arranged for the sale of 1,322,836 shares of newly issued common stock for $19.05 per share under its Form S-3 Registration Statement, for total gross proceeds of approximately $25.2 million.
The closing for this financing is expected to occur no later than April 25, 2008.

The Company intends to use the proceeds from this transaction to acquire additional producing commercial hog farms in China.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NasdaqGM:RODM - News), served as the placement agent for the offering.
     


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Sold about 65% of position @ 19.70 to 19.54. Holding the rest....for now. Approximate gain 63%.