IND DAIRYTECH LIMITED COMPLETES SHARE RESTRUCTURE AND CAPITAL INCREASE OF RMB 106 MILLION IN ITS CHINESE SUBSIDIARY

VANCOUVER, Oct. 22 /CNW/ -- 
VANCOUVER, Oct. 22 /CNW/ - IND DairyTech Limited (("IND" or "the
 Company") (TSXV:IND) is pleased to announce the completion of capital
 increase of RMB 106 million (approximately $16 million) in its
 operating subsidiary IND China. Details of the capital increase were
 previously announced by the Company on August 16, 2010. After the
 capital increase, IND holds approximately 76.51% of IND China. The
 Company will use the proceeds to continue to build its herd size and
 increase its milk production. In the meantime, IND China has received
 approval from Chinese regulators to be restructured as a joint stock
 company, which is a condition for its listing plan in China.


The Company is pleased to announce the appointment of Mr. Paul Zhang and
 Mr. Dehong Yu as directors of the Company effective today. Mr. Zhang is
 currently the Chief Financial Officer and Vice President of Finance for
 Minco Gold Corporation (TSX: MMM; NYSE: MGH) and Minco Silver
 Corporation (TSX: MSV).  Mr. Zhang was the Chief Financial Officer of
 Migao Corporation (TSX:MGO) from 2005 to 2008. Originally from China,
 Mr. Zhang carries over 15 years of senior accounting and financial
 management experience in North America. Mr. Zhang is Charted Accountant
 of Ontario and CPA in Illinois. Mr. Yu is based in China and is
 currently chief editor of China Dairy Cattle, a magazine managed by Dairy Association of China. The Company also
 announces that Mr. Guocai Liu has resigned as a director of the Company
 effective today. The Company would like to thank him for his services
 and great contributions during his tenure.


The TSX Venture Exchange has not reviewed and does not accept
 responsibility for the adequacy or accuracy of this release.


FORWARD LOOKING INFORMATION


Certain information set out in this News Release constitutes
 forward-looking information, which may include information relating to
 estimates of sales and revenue of IND. Forward-looking statements
 (often, but not always, identified by the use of words such as
 "expect", "may", "could", "anticipate" or "will" and similar
 expressions) may describe expectations, opinions or guidance that are
 not statements of fact and which may be based upon information provided
 by third parties. Forward-looking statements are based upon the
 opinions, expectations and estimates of management of the Company as at
 the date the statements are made and are subject to a variety of known
 and unknown risks and uncertainties and other factors that could cause
 actual events or outcomes to differ materially from those anticipated
 or implied by such forward-looking statements. In light of the risks
 and uncertainties associated with forward-looking statements, readers
 are cautioned not to place undue reliance upon forward-looking
 information. Although the Company believes that the expectations
 reflected in the forward-looking statements set out in this press
 release or incorporated herein by reference are reasonable, it can give
 no assurance that such expectations will prove to have been correct.
 The forward-looking statements of the Company contained in this press
 release, or incorporated herein by reference, are expressly qualified,
 in their entirety, by this cautionary statement.


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tabletr valign="top"td align="left"Jesse Zhubr/ Chief Executive Officerbr/ IND DairyTech Limitedbr/ 604-522-1619br/ a href="mailto:[e-mail]"[e-mail]/a/td td /td td /td td align="left"Winfield Dingbr/ Chief Financial Officerbr/ IND DairyTech Limitedbr/ 604-522-1619br/ a href="mailto:[e-mail]"[e-mail]/a/td/tr/table

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