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To: Vicki G who wrote (107)	6/4/1998 1:44:00 PM
From: Vicki G	Respond to of 1170

More about supply: Chai-Na-Ta Announces Stronger Results for First Quarter in Fiscal 1998 Business Editors Business Wire - April 29, 1998 05:00 %CHAI-NA-TA CCCFF CC. %NEW-YORK %MEDICINE V%BW P%BW Revenues for the quarter increased to $7.2 million as compared to $1.5 million in the same quarter last year. Net loss for the quarter declined to $172,000 ($0.04 fully diluted loss per share) from $1,123,000 loss ($0.28 fully diluted loss per share) in the comparable period a year ago. Additional financial details and U.S. equivalent figures are shown at the end of this release. Improved performance in the first quarter resulted from increased root sales volume, higher sales of value-added product and decreased overhead costs. President & CEO, Gerry Gill commented, "Our decision to defer selling our harvest in the fourth quarter of 1997 gave us the opportunity to enter the market strongly this year. Furthermore, by holding back we improved the price received for our root. We are encouraged by the growth shown in each of our value-added products divisions during the quarter. By focusing on maximizing root prices, minimizing our costs, and increasing our distribution opportunities we have created an environment for improved financial results this year." The Company reported that bulk root prices remain at historical lows in the industry. However, the industry expects to see a decline in production volume over the next few years, while demand continues to increase. This is expected to result in prices strengthening. "While we are disappointed with industry prices in general, we are pleased that our sales strategy in 1998 has resulted in improved offers for our harvest. At the same time, new markets are developing outside of Asia for North American ginseng, which will consume more of the industry's production. We are leading this trend by initiating North American marketing programs and sponsoring product research studies." Chai-Na-Ta Corp., through its subsidiaries, is the world leader in the cultivation of North American ginseng root and a world-wide marketer of ginseng value-added products.