Shuaiyi International New Resources Development closes private placement with accredited investors for $2.5 million

Shuaiyi International New Resources Development Inc. (OTC Bulletin Board: SYID; "Shuaiyi" or the "Company"), a leading nutraceutical company focusing on the advanced technology related to the development of engineered "Cordyceps Militaris" in China, today announced the closing of a private placement with a group of accredited investors, pursuant to which the Company issued 1 million shares of the Company's common stock at a purchase price of $2.50 per share, for an aggregate purchase price of $2.5 million. In addition, the Company issued to each investor two three-year warrants to purchase up to an aggregate of 500,000 shares of the Company's common stock, including a Series A Warrant which has an exercise price of $3.25 per share and a Series B Warrant which has an exercise price of $4.00 per share.

In addition, the majority stockholder of the Company, New Zealand WAYNE's Investment Holdings Co., Ltd. agreed to place a total of 1,000,000 shares of the Company's common stock held by it into escrow to secure the make good obligations of the Company on behalf of the investors. In the event that the minimum after-tax net income thresholds of $9,000,000 for the fiscal year 2010 or $11,000,000 for the fiscal year 2011 are not achieved, then up to 50% of shares of the common stock deposited by New Zealand WAYNE's Investment Holdings Co., Ltd. in escrow will be distributed to each investor on a pro rata basis (based upon such investor's respective investment amount in the private placement transaction) for no additional consideration for each applicable year.

The proceeds from this transaction are expected to be used for new business initiatives and working capital requirements. Brean Murray Carret & Co. acted as the placement agent for the transaction.

The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be sold by the investors in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements. The Company has agreed to file a registration statement covering the re-sale of the securities by the investors.