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To: LoneClone who wrote (27041)	10/8/2008 12:45:33 PM
From: LoneClone	Read Replies (1) \| Respond to of 193970

Migao Corporation Provides Market Outlook Wed Oct 8, 7:01 AM ca.news.finance.yahoo.com TORONTO, ONTARIO--(Marketwire - Oct. 8, 2008) - Migao Corporation (TSX: MGO.TO), a China-based specialty potash fertilizer company, today provided an update of its continuing strong operational performance and industry overview. "In light of unfavourable capital market conditions, we wish to inform our shareholders of the continuing strong demand for our products and the positive financial results of our operations as we focus on achieving a dominant market share in China's lucrative and growing agricultural market," said Mr. Liu Guocai, Chief Executive Officer of Migao. "We remind investors that all of our production, across all of our facilities, is sold out until March 2009. This includes a 23% increase in production capacity coming online this quarter. We are selling our products at the highest prices we have ever sold and our customer's demands remain unfulfilled." "During this turbulent time in the capital markets, Migao will remain focused on increasing revenues and earnings by funding a prescribed production expansion plan through internal cash and cash flow. The expansion plan will increase production by more than 75% of current output," continued Mr. Liu Guocai. "Demand for our products continues as the acreage for the crops we serve continues to expand in China. China's consumers are consuming more fruit and vegetables as a percentage of their diet. By 2010, fruits and vegetables as a percentage of the typical diet in China will have increased to 47% from 39% in 1990. We thank our loyal investors for their continued support in Migao during this volatile period in the global stock markets." Migao Corporation, through its wholly owned subsidiaries, owns and operates fertilizer production plants in various strategic locations across China for the production and sale of specialty potash fertilizer (potassium nitrate and potassium sulphate) to China's high value agricultural market. Migao Corporation is subject to, and complies with strict government regulations that govern safety, quality and environmental protection. Please visit www.migaocorp.com for further information. This news release may include forward-looking statements within the meaning of certain securities laws. Forward-looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that may cause actual results to differ materially from expectations, and about material factors or assumptions applied in making forward-looking statements, may be found under the "Risk Factors" sections in our Annual Information Form and annual MD&A. Contacts Jay Hussey Migao Corporation Vice President Corporate Finance (416) 869-1108 ext 104 Email: jay.hussey@migaocorp.com Randall Smallbone Migao Corporation Chief Financial Officer (416) 869-1108 Email: randall.smallbone@migaocorp.com Website: www.migaocorp.com