Dragon International Group, Corp. Reports Record Financial Results for the Second Quarter of Fiscal 2008

NINGBO, China - May 19, 2008 (PRIME NEWSWIRE) -- February 21 , 2008 - Dragon International Group Corp. (OTC BB:DRGG.OB - News), one of China's manufacturers and distributors of specialty paper products and packaging materials, announced today the Company's financial results for the second quarter of fiscal 2008 ended December 31, 2007.

Financial Highlights:

Revenues for the second quarter of fiscal 2008 ended December 31, 2007 increased to $13,056,527 as compared to revenues of $5,188,903 in the second quarter ended December 31, 2006. The increase in revenues was mainly attributable to its acquisition of Wellton International Fiber Corp. completed in October of 2007.

Gross profit for the second quarter of fiscal 2008 ended December 31, 2007 was more than double that of the comparable period in fiscal 2007 and net income for the second quarter of fiscal 2008 reached $1,976,758 or $0.02 per basic share, as compared to $196,134 or $0.00 per basic share for the comparable period in fiscal 2007. The increases in revenue and income were mainly attributable to the Welton acquisition and were further aided by tax abatements related Dragon's operations in Ningbo.

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