- Grant Thornton Will Conduct Fiscal Year 2007 Audit, as well as Re-Audits of Prior Years - BEIJING, Jan. 28 /PRNewswire-FirstCall/ -- American Dairy, Inc. (NYSE Arca: ADY) (the "Company"), one of the leading producers and distributors of milk powder and soybean products in China, today announced it has engaged Grant Thornton, the Hong Kong member firm of Grant Thornton International, as the Company's new independent registered public accounting firm. Grant Thornton's audit team for American Dairy will operate out of Beijing and Hong Kong. Mr. Leng You-Bin, Chief Executive Officer of American Dairy stated, "We are excited to announce Grant Thornton as our new auditor, which is a critical step to strengthening our accounting infrastructure. Grant Thornton is a globally established firm with a strong presence in China. We believe that their team and resources will provide us the necessary support and expertise as we execute our growth plan." Grant Thornton will perform the audit for the fiscal year 2007 and the re- audits of the fiscal years 2004 through 2006. These will proceed as quickly as possible. Mr. Leng concluded, "We continue to view 2008 as a year to invest in the infrastructure we need to be a leading diversified infant formula provider in China. We are optimistic that we'll achieve our goals, which include both organic and acquisition-led growth, enhanced processing capacity, and the launch of new products. Working with the best possible partners is certainly integral to our plan for achieving these goals." About American Dairy, Inc.: American Dairy, Inc. conducts operations in the People's Republic of China ("China") through its wholly owned subsidiary, Feihe Dairy. Founded in 1962, Feihe Dairy is one of the leading producers and distributors of milk powder and soybean products in China. Feihe Dairy is located in Kedong County, China, and has been in operation since 2001. American Dairy also has a milk powder processing plant, BaiQuan Feihe Dairy in Kedong County, and a milk powder processing plant in the city of QiQiHaEr, Heilongjiang Province. http://www.feihe.com/ Certain of the statements made herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time. CONTACT In the U.S. Integrated Corporate Relations, Inc. Investors: Ashley Ammon MacFarlane, 203 682 8208 Media: Rich Layne, 646 277 1219 In Asia: Xuyang Zhang: +86 10 8523 3087 DATASOURCE: American Dairy, Inc. CONTACT: In the U.S., Investors, Ashley Ammon MacFarlane, +1-203-682-8208, or Media, Rich Layne, +1-646-277-1219, both of Integrated Corporate Relations, Inc.; or In Asia, Xuyang Zhang of American Dairy, Inc., +86 10 8523 3087 Web site: http://www.feihe.com/

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