SOURCE: Dragon International Group Corp.

October 31, 2006 09:45 ET

Dragon International Receives Purchase Order From Wutai Pharmaceutical Group

NINGBO, CHINA -- (MARKET WIRE) -- October 31, 2006 -- Dragon International Group Corp. (OTCBB: DRGG), one of China's manufacturers and distributors of specialty paper products and packaging materials, announced today its wholly owned subsidiary, Shanghai JinKui Packaging Material Company, Limited ("JinKui"), received a purchase order from Wutai Pharmaceutical Group ("Wutai"). Under the terms of the purchase order, JinKui will supply 8-10 metric tons of cold aluminum packaging film per month over the next two years.

Wutai, located in the Jilin province of China, operates a diversified organization within the pharmaceutical industry in China. Wutai is a manufacturer and distributor of pharmaceutical products in the northeast section of China. This purchase order will allow JinKui to expand the reach of its products into the northeast section of China. JinKui forecasts the purchase order could generate up to $3 million in total sales by December 2007.

Mr. David Wu, CEO and Chairman of Dragon International Group Corp., stated, "This purchase order is proof of our commitment to expand into the pharmaceutical packaging market. This marks another significant development since our acquisition of JinKui on June 300, 2006. China's pharmaceutical packaging industry has witnessed strong, recurring growth in the past decade. Annual sales of pharmaceutical packaging have grown approximately 20% annually since 2004. We believe this market represents another tremendous growth opportunity for our shareholders for years to come."

About Dragon International Group Corp.

Dragon International Group Corp (OTCBB: DRGG) is one of China's manufacturers and distributors of specialty paper products and packaging materials. DRGG is operating as a manufacturer and distributor of paper and integrated packaging paper products. DRGG has a distribution network covering east and central China. Dragon and its subsidiaries have cultivated strategic relationships with several of the world's largest and well-known manufacturers of paper and specialty packaging products. For more information, please visit http://www.drgg.net.

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements, including the Company's ability to obtain sufficient financing to fund both its internal growth opportunities and acquisition strategy. More information about the potential risks and factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission at http://www.sec.gov.

Contact Information

  • Contact:
    Andrew Brown
    ROI Group Associates, Inc.
    Tel: 212-495-0202
    Email: abrown@roiny.com