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China Forestry Inc. Ends Pursuit of Landscape Tree Business

Harbin,  China, 13 November 2009 -- (GLOBE NEWSWIRE) -- China Forestry Inc. (OTCBB:CHFY - News), a timber investment group in the People's Republic of China, announced today that in response to due diligence review its board of directors, the company has ended its previously announced acquisition pursuit of the Yunnan Province business transplanting landscape tree. The board's decision was based largely on the seasonal revenue limitations of the investment candidate's operations.

Commenting on the board's decision, Yuan Tian, CEO, stated, "Given the size of their forest holdings, the project presented significant synergies, as well as an additional revenue stream and the opportunity for expansion into southern China. But with operations limited to three seasons and ceasing during the winter months, the board has decided to focus attention on management's due diligence of other investment candidates with more consistent revenues.

"We will continue to seek investment opportunities that maximize shareholder value and enhance our ability to achieve a more senior listing on NASDAQ," Tian said. 

China Forestry Inc. (OTCBB:CHFY - News) is a timber investment group formed in the People's Republic of China to conform to state laws that prohibit non-PRC ownership of forest lands. The company's strategy is to capitalize on the Chinese government's decision to promote sustainable forest management through land tenure reforms that include the transferability of forest user right certificates to PRC entities. The company's current holdings include ownership of four user right certificates representing 1561 hectares of state forest assets in China's northeastern Heilongjiang Province, home to China's most valuable timber and one of the most distinctive temperate forests in the world due to its rare biodiversity. For more information, visit http://www.chinaforestryinc.com


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