Dragon International Group Reports Financial Results for the First Nine Months of Fiscal 2008

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

Financial Highlights:

Revenues for the first nine months of fiscal 2008 increased to $33.28 million as compared to revenues of $13.32 million in the first nine months of fiscal 2007. Net income the first nine months of fiscal 2008 increased to $2.19 million or $0.02 per basic share as compared to a loss of ($348,588) or ($0.00) per basic share in the first nine months of fiscal 2007. Revenues for the third quarter of fiscal 2008 ended March 31, 2008 increased to $12,302,847 as compared to revenues of $3,304,682 in the third quarter ended March 31, 2007. Gross profit for the third quarter of fiscal 2008 ended March 31, 2008 was $935,765, almost triple that of $318,339 for the comparable period in fiscal 2007 and net income for the third quarter of fiscal 2008 reached $237,994 or $0.00 per basic share, as compared to a loss of ($549,274) or ($0.01) per basic share for the comparable period in fiscal 2007. The increases in revenue and income in the third quarter of 2008 were mainly attributable to the Wellton International Fibre Corp. acquisition.

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