SOURCE: AgFeed Industries, Inc.

December 17, 2007 07:00 ET

AgFeed Industries Appoints Edward McMillan, Former Chairman of American Feed Industry Association and Former CEO of Purina Mills, the Largest Animal Nutrition Product Company in the US, as a Strategic M&A Advisor

NEW YORK, NY--(Marketwire - December 17, 2007) - AgFeed Industries, Inc. (NASDAQ: FEED) (website:, a market leader in China's premix animal nutrition industry, today announced that Mr. Edward McMillan, a leader in the U.S. animal nutrition industry, has joined AgFeed as a strategic advisor on M&A and corporate development.

Mr. McMillan commented: "China represents one of the world's best growth opportunities in the animal feed and hog raising markets. AgFeed intends to become a market leader in both industries. I am honored to advise AgFeed with M&A and other strategic opportunities worldwide."

"AgFeed previously announced its growth strategy for 2008 and beyond, which will be focused on organic expansion and strategic acquisitions targeting China's vast feed and hog raising industries," Songyan Li, Ph.D., Chairman of Agfeed said. "As China's fast growing domestic feed and hog markets have become attractive for global players, Mr. McMillan's leadership positions and broad industry contacts worldwide will benefit AgFeed for years to come. We look forward to his guidance as we plan to roll out multiple acquisitions in the feed and hog raising industries in 2008 per our strategic plans."

About Mr. Edward McMillan

Mr. McMillan was the President and Chief Executive Officer of Purina Mills Inc., the United States' largest manufacturer and distributor of animal nutrition products, from 1988 until 1996. He joined Purina Mills in 1969 as a field sales representative and held various positions in Marketing, Business Development and Diversified Business Management before being named President and CEO in 1988 and elected to the Board of Directors in 1993.

A leading figure in the animal nutrition industry, Mr. McMillan served on the board of directors of the American Feed Industry Association and as Chairman of the Board from 1993 until 1994. He currently serves on the board of directors of several food and agri-business related companies including Balchem Corporation (NasdaqGS: BCPC), NutraCea, Inc. (NTRZ.OB), Durvet, Inc., Hintzsche Inc., Newco Enterprises, Inc., MariCal, Inc., Certified Hereford Beef, LLC and Glencoe Capital, Consumer Products Investment Group.

Mr. McMillan was named Agri-Marketer of the Year for the National Agri-Marketing Association and received the Distinguished Service Award from the American Agricultural Editors' Association, an Award of Merit from the University of Illinois, College of Agriculture and the Distinguished Service Award from the American Feed Industry Association. He is a member of the Century Honor Roll of Alpha Zeta Agricultural Honorary Fraternity.

Edward L. McMillan is currently an independent business consultant with a primary focus on business alliance creation and merger, acquisition and divestiture transactions.

Mr. McMillan is Chairman of the Board of Managers for the University of Illinois Research Park LLC and a member and Past Chair of the University of Illinois Alumni Association Board of Directors. Mr. McMillan received a Bachelor of Science degree in Agricultural Science from the University of Illinois and is a Graduate of the Credit Research Foundation, Inc. School of Credit and Financial Management.

About AgFeed Industries, Inc.

AgFeed is a U.S. public company listed on the NASDAQ Global Market. Through its operating subsidiaries in China, AgFeed is a market leader in China's fast growing premix animal nutrition industry. AgFeed has also entered into China's hog raising industry in 2007. The premix market in which Agfeed operates is an approximately $1.6 billion segment of China's animal feed market, an industry which generated approximately $40 billion in 2006, according to the China Feed Industry Association.

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 our 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 pace and timing of the consummation and integration of past and future acquisitions, our ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks, and the risks described in AgFeed's filings with the Securities and Exchange Commission, including, but not limited to, our Quarterly Report on Form 10-QSB for the quarter ended September 30, 2007 that we filed with the Securities and Exchange on October 31, 2007. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.

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