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"Our efforts to improve our financial performance in North America will be further strengthened by cost rationalization measures and price revisions on selected products. In spite of the challenges of the market, we believe there is opportunity for Vitasoy USA to grow," Mr. Lo commented.

Business Outlook

Looking ahead, Mr. Lo said, "We will leverage our core competencies and focus on areas we excel in, including product innovation, brand building and cost management, to drive revenue growth and capture larger market shares, amidst the challenges brought by intensifying market competition, inflationary pressure and rising costs of raw materials. We will also explore new business opportunities to create greater long-term shareholder value."

Vitasoy International Holdings Limited is one of the leading manufacturers and distributors of non-carbonated drinks with a base in Hong Kong. Founded in 1940 and with production facilities in Hong Kong, Mainland China, Australia and the United States, Vitasoy currently provides consumers in 42 markets worldwide with over 1,000 stock keeping units (SKU). Over the years, Vitasoy has successfully established a corporate image as "the soy expert". Vitasoy is a constituent of the Morgan Stanley Capital International ("MSCI") Hong Kong Small Cap Index.

For more information, please contact:

Stella Lung, Public Relations Manager

Tel: +852-2468-9644

Fax: +852-2465-1008

Email: pubrel@vitasoy.com

Angela Hui / Paul Sham, Ketchum Hong Kong

Tel: +852-3141-8091 / +852-3141-8068

Fax: +852-2510-8199

Email: angela.hui@knprhk.com / paul.sham@kn
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