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CORRECTION -- Le Gaga Second Quarter FY 2011 Earnings Release

HONG KONG, Nov. 29, 2010 (GLOBE NEWSWIRE) -- In a press release issued earlier today by Le Gaga Holdings Limited (Nasdaq:GAGA), a figure in the "Reconciliation of Non-IFRS adjusted cost of inventories sold to cost of inventories sold" table was incorrect. The cost of inventories sold for the six months ended September 30, 2010, in U.S. dollars, should be (24,376). The corrected table follows:

             
Le Gaga Holdings Limited
Reconciliation of Non-IFRS adjusted cost of inventories sold to cost of inventories sold
For the three months and six months ended September 30, 2009 and 2010
             
  Three Months Ended September 30, Six Months Ended September 30,
  2009 2010 2009 2010
  RMB RMB US$ RMB RMB US$
  (In thousands, except per share data or otherwise specified)
Cost of inventories sold (55,236) (83,836) (12,531) (99,012) (163,087) (24,376)
Less: biological assets fair value adjustment 34,190 49,820 7,446 57,305 99,277 14,839
             
Adjusted cost of inventories sold (21,046) (34,016) (5,084) (41,707) (63,810) (9,537)
CONTACT:  PRChina
          Jane Liu
            (852) 2522 1838
            jliu@prchina.com.hk
          Henry Chik
            (852) 2522 1368
            hchik@prchina.com.hk

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