Zhongpin Reports Higher Revenues and Net Income for Third Quarter 2010: EPS of $0.42

Zhongpin Inc. HOGS, a leading meat and food processing company in the People's Republic of China, today reported higher revenues and net income for the third quarter 2010 from the third quarter 2009. Third Quarter 2010 and recent highlights: * Net sales revenues increased 24 percent in the three months ended September 30, 2010 to $241.1 million from $194.9 million in the third quarter 2009. * Net income increased 11 percent to $14.7 million in the third quarter 2010 from $13.2 million in the third quarter 2009. * Basic and diluted earnings per common share declined $0.02 or 5 percent to $0.42 in the third quarter 2010 from $0.44 in the third quarter 2009, on higher net income but with higher weighted average number of shares outstanding in the third quarter 2010. * Since the end of the second quarter of 2010 through early November, hog prices have increased more rapidly than pork prices. We estimate that pork prices will gradually increase so that the spread between pork prices and hog prices will return to their historical relationship. * Prior guidance for the year 2010 has been maintained.