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Letter to Shareholders from the CEO and Chairman of the Board of Yongye Biotechnology, Inc.
Date:9/18/2008

th in marketing to assist each of these stores build acceptance of, and brand loyalty to, Yongye products so as to drive growth in same store sales going forward. In the future, we plan to work with government agencies to source locations for new stores and will also consider strategic acquisitions that will quickly allow us to expand in the provinces where we already have stores and enter new provinces.

Recent Private Placement to Fund Capacity Expansion

We are very pleased to have recently completed, in September, a successful private placement that resulted in an issuance and sale of an aggregate of 6,073,006 common shares, in which we received gross proceeds of $9.35 million. The proceeds from the private placement will be used by Yongye to restructure and consolidate product development, production and distribution in our Cooperative Joint Venture (CJV), Yongye Nongfeng Biotechnology CO. ("Yongye Nongfeng"), and expand production capability. Remaining proceeds will be used for working capital. As part of the restructuring we also plan to obtain financing in the form of a bank loan in the amount of $6 million.

Through the restructuring, our CJV Yongye Nongfeng will acquire all of the land rights, buildings, equipment and permits that currently belong to our outsourced manufacturing partner Inner Mongolia Yongye. This will enable Yongye Nongfeng to centralize and manage Company product development, manufacturing and distribution and result in a more tightly integrated business model with greater control over our product quality and intellectual property. The full restructuring process should be completed by approximately September 2009. We will begin by purchasing the production equipment used in the existing 2,000 Tonnes Per Annum (TPA) production facility, and which we expect to accomplish by the end of October 2008. In order to support our future growth, we are in the process of constructing a new 8,000 TPA production facility located at t
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SOURCE Yongye Biotechnology International, Inc.
Copyright©2008 PR Newswire.
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