Sino Agro Food (OTCBB: SIAF) Awarded Development Contract, Potential Corporate Revenues up to USD $21M

Chicago, IL 3/1/12 (StreetBeat) – Sino Agro Food, Inc. (OTCBB: SIAF), an emerging integrated, diversified agriculture technology and organic food company with principal operations located throughout the Peoples Republic of China (“PRC”), is pleased to announce that our wholly-owned subsidiary company, Capital Award, Inc., has been awarded a two-phase service and consulting contract (the “Contract”) to develop a second prawn farm located in San Jiao Town, Zhong Shan City, Guangdong Province, PRC. Total revenues to the Company pursuant to the Contract are projected and could potentially be valued as high as $21 million to the Company.

The Contract calls for the development and construction of a prawn hatchery and nursery station on a six acre block of land. The facility is projected to develop some 2.8 billion prawn fingerlings in its first year of operation.

The project is divided into two phases with Phase One already approved and underway. Phase One construction has commenced with an anticipated completion date of approximately early April 2012. Construction under Phase One includes infrastructure development, utilities, staff quarters, offices, prawn hatchery and nursery construction. Phase One of the project is projected to generate approximately $8.08M in revenue for the Company.

Phase Two of the project, which requires some additional approvals, includes the development and construction of a prawn grow-out farm consisting of 16 APM indoor units and the conversion of twelve acres of outdoor ponds for use with the APM technology. Phase Two construction is expected to commence sometime in Mid-2012 and it is anticipated that construction could be completed as early as by the end of fiscal year 2012.

Mr. Solomon Lee, Chief Executive Officer of the Company, stated, "We are very pleased to announce our fourth major contract using the Company's A-Power (APM) technology in China. To date, this is by far our largest consulting and servicing contract ever awarded. We project that this contract award could result in revenue generation upwards of $21 million for fiscal year 2012, which alone represents almost 85% of the revenue generated from our Capital Award's consulting and servicing contracts during fiscal year 2011. We expect this trend to continue further as more interest develops for the A-Power technology in China."

StreetBeat Disclaimer

Distributed by Viestly