Hanfeng Evergreen Inc.

Hanfeng Evergreen Inc.

March 07, 2008 07:00 ET

Hanfeng Announces New Board Appointments

TORONTO, ONTARIO--(Marketwire - March 7, 2008) - Hanfeng Evergreen Inc. (TSX:HF) ("Hanfeng"), is pleased to announce that Brian Hayward and Lei Li have been appointed to the board of directors of Hanfeng effective immediately. Mr. Hayward and Ms. Li replace Graham Warren and Kim Oishi, who are leaving the board to pursue other ventures. David Thomson will assume Mr. Warren's position as chairman of the audit committee.

Mr. Hayward brings more than 27 years of industry and public company experience to Hanfeng. After graduating from McGill University with an MSc in Agricultural Economics, Mr. Hayward joined United Grain Growers Ltd. (UGG) where he took on progressively greater roles within the organization, including leadership of the company's international and domestic trading and transportation activities. In 1991, he became Chief Executive Officer of UGG and was pivotal in leading the 2001 merger forming Agricore United-a $4 billion merchandising company and Canada's largest farm services business. As Chief Executive Officer of Agricore United, Mr. Hayward led a team that grew shareholder value at a rate above that of the TSX benchmark index. Mr. Hayward is actively involved on several public and private company boards.

Ms. Li served as executive vice president of Hanfeng from 2003 to 2007 and has been working with Hanfeng since the company was first established in China in 1996. During her tenure with Hanfeng, Ms. Li helped the Company establish strategic business relationships with several major suppliers, including Nu-Gro of Ontario as well as playing a key role in developing the Company's domestic and international sales strategies. Ms. Li is a Director of the Canada China Business Council.

"On behalf of the board, I would like to welcome Brian and Lei to the board of directors of Hanfeng. Their experience will serve us well as we continue to expand our operations and markets in China and internationally," stated Robert Beutel, Chairman of Hanfeng. "We would also like to thank Graham and Kim for their significant contributions to Hanfeng's success. Their hard work and support over the years is greatly appreciated and we wish them the very best in their future endeavors."

About Hanfeng Evergreen Inc.

Hanfeng is the largest producer of slow and controlled release fertilizers in China. It was the first company to introduce the concept of slow and controlled release fertilizers into China's agriculture market with its establishment of the first commercial scale production in China. All production facilities are located in prime agricultural regions of China. The Company is headquartered in Toronto, Ontario and its shares trade on the Toronto Stock Exchange. www.hanfengevergreen.com.

This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about Hanfeng's business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. All amounts are stated in Canadian dollars except for noted otherwise.

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