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Deer Consumer Products, Inc. Reaches an Initial Agreement of $3 Million for Product Sales to Global Retailer Tesco Stores

Posted on: Wednesday, 27 May 2009, 08:15 CDT

NEW YORK, May 27 /PRNewswire-FirstCall/ -- Deer Consumer Products, Inc. (OTC Bulletin Board: DCPD) (Website: www.deerinc.com), one of the world's largest manufacturers of home and kitchen electronics targeting both international and the Chinese domestic markets, today announced that the Company has reached an initial agreement of $3 million for product sales to Tesco stores.

Tesco is a global market leader in retail sales with stores worldwide particularly in Europe and in Asia. Tesco's website: www.tesco.com

In 2008, Deer reported US GAAP audited $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.

Bill He, Deer's Chairman & CEO commented: "Today's initial contract for kitchen electronics with product supply to Tesco is another example of a significant increase in customer orders that we are seeing in the 2nd quarter. As we have stated before, Deer is benefiting from an influx of large product orders placed by global brand name customers who are switching to Deer seeking a reliable supply source from a proven and well financed company such as us. As we enter the summer and the highest seasonable demand for juicers and other kitchen electronics, we expect to have a season of record product sales."

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.

Contact Information: Corporate Contact: James Chiu Chief Operating Officer Deer Consumer Products, Inc. Tel: 011-86-755-86028312

SOURCE Deer Consumer Products, Inc.

Source: PR Newswire

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