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Deer Consumer Products, Inc. Announces $7.7 Million Initial Contract with Product Sales to the Target Stores in the U.S.

Posted on: Thursday, 30 April 2009, 07:18 CDT

NEW YORK, April 30 /PRNewswire-FirstCall/ -- Deer Consumer Products, Inc. (OTC Bulletin Board: DCPD) (News - Website: http://www.deerinc.com), a market leader in the design, manufacture and sale of small home and kitchen electronics targeting both international and the Chinese domestic markets today announced that the Company has signed sales contracts totaling $7.7 million with a wholesale buyer for product sales to the Target Corporation in the U.S.

These products are specialty branded popcorn machines for U.S. consumers. Deer is the exclusive manufacturer and supplier to these specialty product lines. Today's announcement of this supply contract is an initial order of a series of sales contracts that Deer anticipates announcing in the near future with various buyers.

In 2008, Deer reported $43.8 million in revenues, $3.4 million in net income and EPS (earnings per share) of $0.39 on a post share split basis.

With more than 100 global and domestic clients/branded products including Black & Decker, Ariete-Disney, Toastmaster, Magic Bullet, Back to Basics, and Wal-Mart, Deer has enjoyed rapid sales and earnings growth in the recent years.

Bill He, Deer's Chairman & CEO commented: "Deer continues to experience rapid export orders growth as well as expanded Chinese domestic market sales in 2009. Deer's rapid growth is an indication of the quality of our products, our financial strength and the highly cooperative relationships that we have maintained with our customers over many years. Our leadership position in China's small home electronics markets well positions Deer as one of the most reliable and the largest suppliers in China's small home appliances markets. I believe that Deer is on track to achieving another year of record sales and earnings growth in 2009."

About Deer Consumer Products, Inc.

Deer Consumer Products, Inc. is a U.S. public company headquartered in China. Supported by more than 103 patents, Deer is a market leader in the design, manufacture and sale of home and kitchen electric appliances targeting the vast Chinese domestic consumer markets as well as customers in more than 40 countries worldwide. Deer's product lines include blenders, juicers, pressure cookers and other home appliances designed to improve home lifestyles in today's fast-paced society. With more than 100 global and domestic clients/branded products including Black & Decker, Ariete-Disney, Toastmaster, Magic Bullet, Back to Basics, and Wal-Mart, Deer has enjoyed rapid sales and earnings growth in recent years.

Safe Harbor Statement

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

SOURCE Deer Consumer Products, Inc.

Source: PR Newswire

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