GLG Life Tech Corporation in Strong Position to Enter Stevia Leaf Harvest
Thu Jul 24, 2:27 PMVANCOUVER, BRITISH COLUMBIA--(Marketwire - July 24, 2008) - GLG Life Tech Corporation ("GLG" or the "Company") (TSX: GLG.TO) announces that during the past five weeks, members of management have visited the Company's exclusive stevia growing areas and stevia extraction facility locations in China. Following visits to construction sites and leaf fields in both the Jiangsu and Anhui Provinces, in addition to a visit to its future site in Shandong Province, management is pleased to report that the Company's plans for expansion and development are on schedule and will support production capacity of 1,200 metric tons of high grade stevia once expansion has been completed.
During a mid-June visit to Jiangsu Province and the Company's 10,000 metric ton dry leaf processing facility currently under construction there, GLG Chairman and CEO Dr. Luke Zhang, and members of the GLG management team, were hosted by top officials in Dongtai City and in Yuancheng. The government repeated its strong support for GLG's 10-year exclusive right to contract with stevia farmers and to build and operate stevia extraction facilities in that region. The leaf harvest is expected to begin by the end of July. GLG anticipates it will purchase an estimated 10,000 metric tons of dry leaf from farmers with whom contracts were signed in the fall of 2007 and winter of 2008. Once the leaf supply has been purchased, the Company is looking forward to increased capacity as its first two production lines (10,000 metric ton total capacity) in Dongtai are scheduled to be operational before the end of 2008 with additional capacity to be added in 2009. After the Jiangsu Province visit, company management next visited Mingguang City (Anhui Province) and Juangcheng City (Shandong Province). A warm welcome was also received from the top government leaders in Xuzhou City and Heze City, which have jurisdiction over Mingguang and Juancheng respectively. In both locations, GLG enjoyed the same levels of support as in Jiangsu Province. In Mingguang, the Company is also building a 10,000 metric ton stevia extraction facility and has contracted with thousands of farmers to grow stevia in the area for the Company's local operations. Construction there is also targeting a fourth quarter completion date with operations set to begin immediately thereafter for processing of the 2008 leaf supply. In this region, GLG also has a 10-year exclusive agreement for growth and extraction of stevia. During management's stop in the City of Juangcheng (Shandong Province), GLG met with government leaders to further discuss plans for development of its newest secured stevia growing area. Further, the construction plans scheduled for 2009 for the first phase of a factory slated to eventually become GLG's largest primary processing facility were also discussed. The Company has been conducting field trials for commercial growth of stevia in the Juangcheng area for several years and will harvest approximately 3,300 acres in 2008 (approximately 3,000-3,500 metric tons of dry leaf). GLG's exclusive agreement for growth and extraction in Juancheng is for 20 years. GLG Chairman and CEO, Dr. Luke Zhang, stated, "We believe we are in the strongest possible position as global stevia demand continues to grow over the next 1-3 years. Our vertical integration, from R&D of the highest yielding seeds and seedlings to our proprietary extraction technology, allows us to set industry standards for this natural product. Our technology maximizes the sweet tasting components in the stevia leaf while removing the bitter components, a notorious problem in the industry for which we have found a solution." Dr. Zhang further stated, "With recent market developments and increases in market demand, we will continue to meet our commitment to our major customer as well as deliver products to a growing customer base around the world." About GLG Life Tech Corporation GLG Life Tech Corporation specializes in growing, refining, and producing high grade stevia extract, a natural, zero-calorie sweetener. With fully integrated stevia operations, GLG is the leading supplier of high quality stevia production in China. The Company is also engaged in the distribution of nutritional products in China and holds exclusive agreements with Weider Global Nutrition and Shandong Yong He Tang Health Products Chain Stores Ltd., whose franchise network includes over 1,400 locations. Please visit www.glglifetech.com for further information. Forward-looking statements: Certain statements in this press release constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements evaluating the market and general economic conditions and discussing future-oriented costs, expenditures and other financial or operating performances. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. While the Company has based these forward-looking statements on its current expectations about future events, the statements are not guarantees of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors include amongst others the effects of general economic conditions, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations, industry supply levels, competitive pricing pressures and misjudgments in the course of preparing forward-looking statements. Please refer to the heading "Risk Factors" in our Annual Information Form in respect of our year-ended December 31, 2007 and the risk factors in our Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2007 for a discussion of these and other factors underlying forward-looking statement, both of which are available on SEDAR at www.sedar.com under the Company's names. In light of these factors, the forward-looking events discussed in this press release might not occur. Further, although the Company has attempted to identify factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. As there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, readers should not place undue reliance on forward-looking statements. ContactsBrian MeadowsGLG Life Tech Corporation
Chief Financial Officer
(604) 641-1368
(604) 641-1214 (FAX)
Email: ir@glglifetech.com
Website: www.glglifetech.com


