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China Agritech Expands Sales Contract with Sinochem, China's Largest Fertilizer Distributor

Posted on: Tuesday, 8 September 2009, 05:00 CDT

BEIJING, Sept. 8 /PRNewswire-Asia-FirstCall/ -- China Agritech, Inc. (OTC Bulletin Board: CTEC) ("China Agritech" or "the Company"), a leading national liquid and granular organic compound fertilizer manufacturer and distributor in China, today announced that it expanded a sales and distribution partnership with Sinochem Fertilizer Co., Ltd. ("Sinochem") for the Company's "Green Vitality" granular fertilizer products.

This contract is for the supply of 15,000 tons of Green Vitality granular fertilizer and is worth an estimated value of RMB 44 million (approximately US$6.4 million value of sales). This contract runs through December 2010. The Company will continue to supply Sinochem with "Green Vitality" liquid fertilizer under an existing contract.

The Company's Green Vitality compound granular fertilizer products are a premium line. It is an innovative and versatile granular fertilizer as it can improve the yields of a large variety of crops. China Agritech will be responsible for delivery and technical services.

Sinochem is China's largest integrated agricultural company and is China's largest fertilizer corporation with integrated manufacturing, supply and sales.

Mr. Yu Chang, Chief Executive Officer of China Agritech, commented, "We are excited about the expansion of our relationship with Sinochem, China's largest agricultural and fertilizer distribution company. This new contract acknowledges the quality of our granular fertilizers and the fertilizer solutions they provide to the farmers. We anticipate that Sinochem's large sales and distribution network will help us reach new customers and markets within China."

About China Agritech, Inc.

China Agritech, Inc. is engaged in the development, manufacture and distribution of liquid and granular organic compound fertilizers and related products in China. The Company has developed proprietary formulas that provide a continuous supply of high-quality agricultural products while maintaining soil fertility. The Company sells its products to farmers located in 28 provinces of China.

For more information about the Company, please visit http://www.chinaagritechinc.com .

Safe Harbor Statement

This release may contain certain "forward-looking statements" relating to the business of China Agritech and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions, including, but not limited to, statements regarding the continued demand for China Agritech's products, China Agritech's ability to sustain growth for the balance of the year and China Agritech's ability to generally meet all of its objectives. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, and competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the SEC. Except as required by law, China Agritech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

SOURCE China Agritech, Inc.

Source: PR Newswire

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