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Rodobo International, Inc. Announces New Elections to Board of Directors

 

HARBIN, China, Dec. 8 /PRNewswire-Asia-FirstCall/ -- Rodobo International, Inc. (OTC Bulletin Board: RDBO), a leading manufacturer and distributor of high quality milk formula products for infants, children, middle-aged and elderly in China, today announced the election of Mr. James Hu and Mr. Jie Li to the Company's board of directors. As a result of their election, the majority of the directors constituting the Board of Directors of the Company are independent directors.

Mr. Hu has been a director of General Steel Holdings Inc. (NYSE: GSI) since February 2009. Mr. Hu is currently Head of Credit Analysis at Standard Chartered Bank (China) Limited, where he manages risk assessment on large Chinese state owned entities and private companies. Mr. Hu has been employed by Standard Chartered Bank (China) Limited since April 2006. Previously, Mr. Hu was a Senior Auditor with Deloitte Touche Tohmatsu in the U.S. before moving on to hold management positions at both U.S. and China-based firms, with significant experience in mergers and acquisitions analysis and Sarbanes-Oxley implementation. His education includes a Bachelor's degree in Economics from the University of California at Berkeley and a Masters degree in Business Administration from the Darden Graduate School at the University of Virginia. He is a California licensed certified public accountant.

Mr. Li has served as the Chief Financial Officer of China Automotive Systems Inc. (NASDAQ: CAAS) since September 2007 and prior to that position he served as the Corporate Secretary from December 2004. Prior to joining China Automotive Systems Inc. in September 2003, Mr. Li was the Assistant President of Jingzhou Jiulong Industrial Inc from 1999 to 2003 and the general manger of Jingzhou Tianxin Investment Management Co. Ltd. from 2002 to 2003. Mr. Li has a Bachelor's degree from the University of Science and Technology of China. He also completed his graduate studies in economics and business management at the Hubei Administration Institute.

Mr. Yanbin Wang, chairman and CEO of Rodobo International, welcomed Mr. James Hu and Mr. Jie Li to the board. "We are very pleased with the addition of James Hu and Jie Li to our talented slate of directors. We believe that their extensive background in finance and vast capital market experience will bring added dimension to the board, and we look forward to their contribution to our company.

About Rodobo International, Inc.:

Rodobo International is one of the leading independent dairy companies in China. Through its wholly-owned operating subsidiary, the Company is a producer and distributor of high-quality formula milk powder products for infants, children, middle-aged and elderly people in the People's Republic of China. The Company's products are sold under the brand name "Rodobo", "Peer" and "Healif" and are produced in cutting edge facilities using the highest industry standards and the best quality control systems. In 2008, Rodobo International was honored "Best Quality Control Enterprise for Dairy Products".

Safe Harbor Statement

This press release contains forward-looking statements. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. Forward-looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations. For example, when we discuss the contribution of the new two directors to our board of directors and to our company, we are using forward looking statements. These forward-looking statements are based on the current expectations of the management of Rodobo International only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: failure to obtain required regulatory approvals; risks associated with the effect of changing economic conditions and/or regulatory environment in the People's Republic of China; variations in cash flow; reliance on collaborative partners and on new product development; variations in new product development; risks associated with rapid technological change and the potential of introduced or undetected flaws and defects in products; changes in technology and market requirements; changes in consumer preferences; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Rodobo International to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Rodobo International undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Rodobo International, reference is made to Part I, Item 1A, "Risk Factors" of Rodobo International's Annual Report on Form 10-K for the fiscal year ended September 30, 2008 and to other reports filed from time to time by Rodobo International with the Securities and Exchange Commission.

    For more information, please contact:

     Rita Jiang, CFA
     VP of Finance
     Rodobo International, Inc.
     Tel:   +1-646-691-5047
     Email: rita.jiang@gmail.com
     Web:   http://www.rodobo.com

SOURCE Rodobo International, Inc.

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