SOURCE: AgFeed Industries, Inc.

January 17, 2008 06:30 ET

AgFeed Industries Welcomes Robert Rittereiser, Senior Financial Services Industry Executive, as Chairman of Advisory Board

NANCHANG, JIANGXI PROVINCE, CHINA--(Marketwire - January 17, 2008) - AgFeed Industries, Inc. (NASDAQ: FEED) a leading premix animal nutrition and hog producer in China, announced today that senior Wall Street executive, Mr. Robert Rittereiser, has joined AgFeed as Chairman of its Advisory Board.

Mr. Rittereiser is the former Chief Financial Officer and Chief Administrative Officer of Merrill Lynch, former President and CEO of EF Hutton & Co., and former Chairman and CEO of the Wall Street firm Gruntal Financial LLC. Mr. Rittereiser has also served as an Industry Director for the Depository Trust Co., The National Securities Clearing Corp., and the Chicago Board of Options Exchange. In addition, he is the former Vice Chairman of the Securities Industry Association.

Mr. Rittereiser commented: "During my recent visit to AgFeed in China, together with its US-based independent board members and legal counsel, I was very impressed witnessing AgFeed's exciting high-growth businesses, its corporate culture, and management dedication towards continued success in the animal feed and hog raising industries. AgFeed's unique chain store feed distribution model as well as its savvy acquisition strategies in the hog farm business will serve the Company well. I am honored to be associated with AgFeed and to advise the Company with its strategic growth."

Songyan Li, Ph.D., AgFeed's Chairman commented: "AgFeed is pleased to have Mr. Rittereiser as our Chairman of Advisory Board. Mr. Rittereiser's extensive capital market experience and expertise in operational management will be of tremendous value to AgFeed in our constant efforts towards improvement in management efficiency and strategy implementation. We look forward to Mr. Rittereiser's guidance for years to come."

About Mr. Robert Rittereiser

Mr. Rittereiser recently joined Centurion Holdings LLC, a New York-based financial and management consulting firm founded and led by its Chairman, Joseph J. Grano, Jr., the former Chairman of UBS Financial Services Inc. and former Chairman of the Homeland Security Advisory Council formed by President Bush after the September 11, 2001 events. Mr. Rittereiser has extensive experience in the financial services industry. During his career, he has been Chief Financial Officer and Chief Administrative Officer of Merrill Lynch & Co., President and CEO of EF Hutton & Co., a Trustee of the DBL Liquidating Trust, President and CEO of Nationar, a New York Banking Services Company and, most recently, Chairman and CEO of Gruntal Financial, LLC. He is a Director of Steel City Re LLC which provides intangible asset finance services and assists corporations and executives in managing enterprise values. In addition to other corporate directorships, Mr. Rittereiser has served as an Industry Director for the Depository Trust Co., The National Securities Clearing Corp., and the Chicago Board of Options Exchange. He is a former President of the Bond Club of New York and Vice Chairman of the Securities Industry Association. Mr. Rittereiser is the author of a textbook "Margin Regulations and Practices," first published in 1970. Mr. Rittereiser earned his B.B.A. at New York Bernard Baruch College in 1965 and completed the Harvard Business School's Advanced Management Program in 1977.

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 risks described in AgFeed's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:

    Investor Relations:
    The Global Consulting Group
    Kevin Theiss
    Tel: 646-284-9409
    Email: ktheiss@hfgcg.com

    Company Contact:
    AgFeed Industries, Inc.
    Mr. Sam Zhou
    Corporate Development
    Tel: 011-86-13925912908
    Email: info@agfeedinc.com