AgFeed Industries Arranges $10 Million Equity Financing

* Reuters is not responsible for the content in this press release.

Thu Apr 17, 2008 6:05am EDT 

  NEW YORK, NY, Apr 17 (MARKET WIRE) -- 
 AgFeed Industries, Inc. (NASDAQ: FEED), a leader in China's premix feed
and hog raising industry, announced today that it had arranged for the sale of
625,000 shares of newly issued common stock for $16 per share under its Form S-3
Registration Statement, for total gross proceeds of $10 million.

    The closing for this financing is expected to occur no later than Monday,
April
21, 2008.

    The Company intends to use the proceeds from this transaction to acquire
additional producing commercial hog farms in China.

    About AgFeed Industries, Inc.

    Through its China-based operating subsidiaries, NASDAQ-listed AgFeed
Industries
(www.agfeedinc.com) is a market leader in China's fast growing pre-mix animal
feed and hog raising industries. The pre-mix market in which Agfeed operates is
an approximately $1.6 billion segment of China's $40 billion per year animal
feed market, according to the China Feed Industry Association. There are
approximately 600 million hogs raised in China each year, compared to
approximately 100 million in the U.S.

    Safe Harbor Statement

    All statements in this press release that are not historical are
forward-looking statements made pursuant to the "safe harbor" provisions
ofthe Private Securities Litigation Reform Act of 1995. There can be no
assurance that actual results will not differ from the company's expectations.
AgFeed's actual results may differ from its projections. Further, preliminary
results
are subject to normal year-end adjustments. You are cautioned not to place undue
reliance on any forward-looking statements in this press release as they reflect
AgFeed's
currentexpectations with respect to future events and are subject to risks and
uncertainties that may cause actual results to differ materially from
thosecontemplated. Potential risks and uncertainties include, but are not
limited
to, the risks described in AgFeed's filings with the Securities and Exchange
Commission.

    

Contact Information:

U.S. Contact:
Mr. Arnold Staloff
Independent Board Member
AgFeed Industries, Inc.
Tel:  212-631-3510

Corporate Contact:
Mr. Sam Zhou
Corporate Development
AgFeed Industries, Inc.
Tel: 011-86-13925912908
Email:  info@agfeedinc.com

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