CHANGGE CITY, Henan, China, June 18 /Xinhua-PRNewswire-FirstCall/ -- Zhongpin Inc. (Nasdaq: HOGS) (“Zhongpin”), a leading meat and food processing company in the People’s Republic of China (“PRC”), today announced that it is set to join the Russell 3000 Index, Russell MicroCap Index and Russell Global Index when Russell Investments reconstitutes its indexes on June 27, 2008, according to a preliminary list of additions posted June 13, 2008 on http://www.russell.com .
The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represents approximately 98% of the investable U.S. equity market. These indexes are value-weighted and include only common stocks belonging to corporations incorporated in the United States and its territories. The Russell Global Index represents the investable global equity market and its segments comprehensively. It consists of more than 10,000 securities in 63 countries and offers over 300 key
sub-indexes. The 2008 reconstitution of the Russell Indexes will take place after the markets close on June 27, 2008. The new indexes will be effective for one year.
“We are pleased to be a part of the Russell 3000, Russell MicroCap and Russell Global Index. Our inclusion in the Russell Indexes will expand our visibility to the investment community as we continue to grow in the future,” commented Mr. Xianfu Zhu, Chief Executive Officer of Zhongpin. “We remain committed to building a highly respected brand recognized not only domestically but also internationally.”
The reconstitution is usually one of the most highly-anticipated and heaviest trading days in the US equity markets, since buying and selling activities of asset managers are influenced by index component changes. As a result, being added to or deleted from the Russell Indexes, as well as variations in the weightings in the indexes, affect the market demand for the stocks of component companies.
About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has more than $213 billion in assets under management as of March 31, 2008, and serves individual, institutional and advisor clients in more than 40 countries. Russell’s industry-leading indexes had $4.4 trillion in assets benchmarked to them as of Dec. 31, 2007. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
About Zhongpin
Zhongpin is a meat and food processing company that specializes in pork and pork products, and fruits and vegetables, in the PRC. Its distribution network in the PRC spans more than 20 provinces and includes over 2,900 retail outlets. Zhongpin’s export markets include the European Union, Eastern Europe, Russia, Hong Kong, Japan and South Korea. For more information, contact CCG Elite directly or go to Zhongpin’s website at http://www.zpfood.com .
Safe Harbor Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release constitute forward-looking statements within the meaning of Federal securities laws. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are based upon the current beliefs and expectations of the company’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: unanticipated changes in product demand, interruptions in the supply of live pigs/raw pork, downturns in the Chinese economy, delivery delays, freezer facility malfunctions, poor performance of the retail distribution network, changes in applicable regulations, and other information detailed from time to time in the company’s filings and future filings with the United States Securities and Exchange Commission.
For more information, please contact:
Crocker Coulson, President
CCG Elite
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgelite.com
Yuanmei Ma, Chief Financial Officer
Zhongpin Inc.
Tel: +86-10-8286-1788
Email: zhongpin.ir@gmail.com
Web: http://www.zpfood.com
