SOURCE: Golden Dragon Holdings, Inc.

December 12, 2008 09:00 ET

Golden Dragon Holdings, Inc. Adds 8 Supermarkets to Its Distribution Chain in Beijing

BEIJING--(Marketwire - December 12, 2008) - Golden Dragon Holdings, Inc. (PINKSHEETS: GDHI) ( announced today that the Company has expanded its distribution chain by 8 locations though an agreement with April Gourmet Supermarkets, one of Beijing's premium gourmet supermarket retailers. This relationship will place GDHI's current product line in 6 stores in Beijing and 2 in Shanghai. Additionally, Golden Dragon will launch advertising and promotional programs to increase sales and brand awareness.

Frank J. Yglesias, CEO, stated, "We are very excited to have added April's to our distribution chain. A large portion of April's customer base, including most embassy staff, is already familiar with our brands. This along with the marketing programs that will be implemented during the holidays and Chinese New Year will be the key to building consumer awareness and sales."

About April Gourmet Supermarkets

April Gourmet is one of Beijing's premier upscale supermarkets, catering to expats and upper income Chinese nationals. They have a location in the heart of Beijing's embassy district. Walls are stocked from floor to ceiling with cereals, olive oils, a multitude of cheese spreads and an international wine selection. April's is a part of the lightning-fast emergence of supermarkets over the past decade in China. In 2006, China imported 20.273 million tons of food, worth US$13.396 billion, up 37.94 percent and 25.11 percent year on year, respectively.

About Golden Dragon

Golden Dragon Holdings, Inc. (PINKSHEETS: GDHI) is a publicly traded company that owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. (GDHK) in central Hong Kong and Beijing Flying Golden Dragon International Trading Co., Ltd. in China (BFGD). Golden Dragon Holdings, Inc. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for GDHK, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Flying Golden Dragon International Trading Co., Ltd. distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.

Safe Harbor Statement

Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.

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