Zhongpin Inc. Announces Stock Repurchase Program of Up to $10 million

Zhongpin Inc.

today announced that its board of directors has approved a stock repurchase program of up to $10 million of its outstanding stock over the next 12 months. The stock repurchase program was approved by Zhongpin's board of directors on July 5, 2011, became effective on July 5, 2011, and is authorized to be in effect through July 4, 2012. Mr. Xianfu Zhu, Zhongpin's Chairman and Chief Executive Officer, said, "Our board of directors approved this share repurchase program to demonstrate its confidence in the long-term growth outlook for Zhongpin and its desire to create value for our shareholders. Our good cash position gives us the flexibility both to continue our aggressive growth strategy and to buy our shares through the stock repurchase plan."