updated 5/23/2011 10:17:14 AM ET 2011-05-23T14:17:14

LONGKOU, China, May 23, 2011 (GLOBE NEWSWIRE) -- New Dragon Asia Corp. (NYSE Amex:NWD), one of China's leading producers of instant noodles, flour-related products and soybean derived products today announced that at its Annual Meeting of Shareholders, which reconvened after adjournment on May 20, 2011, stockholders elected the six directors nominated to the Company's Board of Directors and ratified the appointment of Parker Randall CF (H.K.) CPA Limited as the Company's independent registered public accounting firm. The proposal to approve the amendment to the Company's Articles of Incorporation to increase the number of authorized shares of Class A common stock to cure the over-issuance of shares of common stock received only 42.6% of the votes of the shares entitled to vote and therefore failed to be adopted. The Company believes that the failure to obtain approval of this proposal and the related reverse split of the Class A common stock may lead to the NYSE AMEX proceeding with the delisting of its Class A common stock and may result in liability to those stockholders that are able to provide documentation demonstrating their ownership of shares involved in the over-issuance.

About New Dragon Asia Corp.

Headquartered in Shandong Province, PRC, New Dragon Asia Corp. is engaged in the milling, sale and distribution of flour and related products, including instant noodles and soybean-derived products, to retail and wholesale customers throughout China. With a well-known brand name called "Long Feng", the Company markets its well-established product line through a countrywide network of more than 200 key distributors and 16 regional offices in 27 Chinese provinces. New Dragon Asia has eight manufacturing plants in the PRC with an aggregate production capacity of approximately 110,000 tons of flour and approximately 1.1 billion packets of instant noodles and 4,500 tons of soybean powder.

CONTACT: New Dragon Asia Corp.
         Email: lf-lyz@163.com

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