China Food Services, Corp. Notice of Retirement of 100,000,000 Shares of Common Stock

Jun 16, 2010, 09:48 ET from China Food Services, Corp.

BEIJING and MIAMI, June 16 /PRNewswire-FirstCall/ -- China Food Services, Corp. formally known as Golden Dragon Holdings, Inc. (Other OTC: GDHI) an international food and beverage distributor specializing in the distribution of US food & beverage brands to the Chinese market, today announced that pursuant to its yearend 2009 Board of Directors meeting, held on January 9th, 2010 whereas the Board voted by unanimous decision to retire 1,000,000,000 shares of common stock in a 6 month period, today it has issued a board resolution to its Transfer Agent, Guardian Registrar & Transfer, Inc.  To immediately retire 100,000,000 Shares of Common Stock, this will total to date 900,000,000 Shares of Common Stock that has been retired.

Frank Yglesias, CEO stated, "We want to thank all our shareholders for their support and commitment that they have shown us.  We will continue to move forward in a positive direction to bring shareholder value and long term company growth."

About China Food Services, Corp.

China Food Services, Corp. 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). China Food Services, Corp. 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.

SOURCE China Food Services, Corp.