PHOENIX, Sept. 24 NutraCea(OTC Bulletin Board: NTRZ), a world leader in stabilized rice bran (SRB),nutrient research and technology, announced today that they have received aninitial purchase order from a health food marketer in China to introduce anutritionally-fortified baby cereal into the Chinese market. The productswill launch in February 2009 with the intention that they will eventually beavailable in Supermarkets and Specialty Baby Stores throughout China.
"Our customer has over 50 regional sales offices all over China andintends to distribute this custom-made, nutritionally-enhanced baby cerealproduct on a national scale in China once the initial introduction has beenmade," said Kody Newland, Senior Vice President of NutraCea.
According to the Chinese Company, "Our goal is to penetrate about 5% ofthe baby cereal market within five years. The total baby cereal market isabout $580 million USD today."
"We are very pleased to be able to meet the demands of our customer bycustom blending to their product specifications and providing them with a veryunique, one of a kind baby cereal for the Chinese market," said Newland.
The product is scheduled to hit the market in China in February, 2009 andcould have the potential to eventually reach up to millions of pounds ofcereal annually.
"In previous conference calls, we have mentioned customers that will beserviced from the new Phoenix facility scheduled for startup in the fourthquarter 2008; this is one such customer," said Leo Gingras, Chief OperatingOfficer of NutraCea.
NutraCea (OTC Bulletin Board: NTRZ) is a world leader in the stabilizationof rice bran. The Company applies its proprietary and patented technologiesduring the rice-milling process to stabilize the rice bran, which it then usesto manufacture ingredients and products that it distributes to a growingroster of customers around the world. NutraCea's products include nutritious,high-quality ingredients for human and animal food companies; nutraceuticalsthat promote health; and nutrient-dense rice bran products for humanitarianfeeding efforts. The Company also has a growing market position in thestabilization and distribution of wheat bran, and it is increasingly engagedin the production of healthy edible oils and derivative products. NutraCea isheadquartered in Phoenix, Arizona, U.S.A., and it has more than 300 employees.For more information on NutraCea, please visit the Company's website atwww.nutracea.com.
This release contains forward-looking statements, including, but notlimited to, statements regarding the anticipated product availabilitythroughout China and the future product sales volume. These statements aremade based upon current expectations and actual results may differ from thoseprojected, due to various risks and uncertainties. The Company does notundertake to update forward-looking statements in this news release to reflectactual results, changes in assumptions or changes in other factors affectingsuch forward-looking information. Assumptions and other information that couldcause results to differ from those set forth in the forward-lookinginformation can be found in the Company's filings with the Securities andExchange Commission, including the Company's most recent periodic reports.Company Contacts: Kody Newland Senior Vice President of Sales 602-522 -7576 [email protected]