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Yongye International Announces RMB 400 Million Revolving Credit Facilities
Date:9/1/2010

revolving credit facilities totaling RMB 400 million (approximately $59 million).

Under the terms of the revolving credit facility with the Agricultural Bank of China, Yongye Nongfeng can borrow up to a total of RMB 300 million (approximately $44 million) at an interest rate equal to the benchmark lending rate designated by the People's Bank of China ("PBC"), China's central bank.

Under the terms of the revolving credit facility with the China CITIC Bank, Yongye Nongfeng can borrow up to a total of RMB 100 million (approximately $15 million) at an interest rate that is 30% above the benchmark lending rate designated by the PBC.

The credit facilities have one-year terms and Yongye Nongfeng can apply for renewal at the end of the 12-month period. Yongye Nongfeng has no obligation to utilize all or part of the credit facilities.

"We are pleased to be able to enter into these credit facilities to support our working capital needs," stated Mr. Zishen Wu, Chief Executive Officer of Yongye International. "We appreciate the support that we have received from our lending institutions, including the Agricultural Bank of China, which has the best expertise to serve the agricultural business community and recently completed the world's largest initial public offering. We believe these credit facilities are an important first step towards developing strong long-term banking relationships for the benefit of our company and shareholders."

"This new credit facility will provide us with additional capital flexibility and liquidity as we continue to rapidly grow our business. Our business exhibits a strong seasonality, with between 70% and 80% of our annual sales occurring in the second and third quarters. As such, we have significant inventory needs. In addition, we provide our key distributors with three-to-six month credit terms. We are confident in extending these terms to our distributors as we have very safe
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SOURCE Yongye International, Inc.
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