China Peregrine Appoints V.P. - Sales - China.

NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Feb. 11, 1999--China Peregrine (OTCBB:CHPF) today announced the appointment of Mr. Peter Lo as V.P.-Sales-China.

This newly created executive position was established by the company to support its ongoing expansion in the Chinese consumer market. The company, after successfully test marketing its Western-style dairy products in Shanghai, and completion of its first acquisition in Hangzhou, is implementing an acquisition strategy of Chinese dairy and beverage facilities to allow the company effective market penetration in China.

Mr. Lo, a Hong Kong Chinese native, has been employed for the past twelve years by Seagram Asia Pacific, a division of the international conglomerate, Seagram Co. He was most recently the Area Director-South China. He is an experienced sales & marketing manager and trainer in Hong Kong and China, and has dealt extensively with consumer products, especially beverages with sales channels similar to those of China Peregrine Food Corp.

According to Mr. Roy Warren, President of China Peregrine, "We are pleased to have Peter join our company. His extensive knowledge of the beverage and consumer markets in China coupled with his experience in dealing with the rapidly growing supermarket industry is critical to our growth plan."

Mr. Lo said, "I am delighted to join this growing company which is so dedicated to the consumer marketplace in China. Our company has many strengths and will grow due to our commitment to providing quality foods in China through well organized marketing systems."

China Peregrine owns 70% of an existing fifty-year National Joint Venture with China National Green Food Corporation, a wholly owned subsidiary of the Ministry of Agriculture of the People's Republic of China, one of the first ever approved in China. China Peregrine currently controls and operates dairy facilities in Shanghai and Hangzhou, China. China Peregrine is now positioned to rapidly expand through additional acquisitions to meet one of China's highest priorities-better nutrition for its 1.2 billion children and adults.

For more information visit our website: www.chinaperegrine.com

Safe Harbor Statement under the Private Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.