SOURCE: Huifeng Bio-Pharmaceutical Technology, Inc.

November 06, 2007 20:25 ET

Huifeng Bio-Pharmaceutical (HFGB) Announces Five-Year Supply Agreement

XI'AN, CHINA--(Marketwire - November 6, 2007) - Huifeng Bio-Pharmaceutical Technology, Inc (OTCBB: HFGB), a leading developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, today announced that it has entered into a five-year supply agreement with Sichuan Huafamei Enterprise Co., Ltd., a division of Safic Alcan Group.

"We are pleased to enter into this new agreement with Safic Alcan," said Mr. Jing'An Wang, CEO of HFGB. "Safic Alcan is committed to developing their presence in the European pharmaceutical industry. They appreciate the quality of the products we can provide and we look forward to working with them on our Diosmin Product line." The supply agreement between HFGB and Safic Alcan grants Safic Alcan exclusive rights to market Diosmin in the European market and calls for minimum guaranteed quantities of Diosmin to be delivered by HFGB to Safic over each of the five years of the contract, which is renewable for an additional 5 year term with mutual consent of both parties. The minimum quantity of Diosmin to be delivered in year one is 50 tons, increasing yearly to at least 500 tons in the last year of the contract.

About Diosmin

Diosmin is a semisynthetic phlebotropic drug, a member of the flavonoid family. It is used with Hesperidin to control internal symptoms of hemorrhoids (piles). It is an oral phlebotropic drug used in the treatment of venous disease, i.e., chronic venous insufficiency (CVI) and hemorrhoidal disease (HD), in acute or chronic hemorrhoids, in place of rubber-band ligation, in combination with fiber supplement, or as an adjuvant therapy to hemorrhoidectomy, in order to reduce secondary bleeding.

About Huifeng Bio-Pharmaceutical Technology, Inc. (HFGB)

Huifeng Bio-Pharmaceutical Technology, Inc., located in Xi'an, People's Republic of China, develops and produces plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production. It is the leading Chinese producer of rutin and related plant-derived chemicals in a class called flavonoids, with medicinal and other beneficial properties. Founded in 2002, Huifeng uses proprietary patented processes to extract rutin more efficiently than traditional extraction techniques. The Company is diversifying its product lines through internal development, acquisition and cooperation with scientific research organizations.

About Safic Alcan Group

Safic Alcan is the European leader in the chemical rubber processing industry and is developing its presence as distributor of chemicals to the pharmaceutical and cosmetic sectors. Safic Alcan is also France's leader in the chemical coatings industry.

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