China Food Services, Corp. Notice of Final Retirement of 100,000,000 Shares of Common Stock

BEIJING and MIAMI, July 15 /PRNewswire-FirstCall/ -- China Food Services, Corp. formally known as Golden Dragon Holdings, Inc. (Other OTC: GDHI) http://www.chinafoodservices.com an international food and beverage distributor specializing in the distribution of U.S. food & beverage brands to the Chinese market, today announced that pursuant to its year-end 2009 Board of Directors meeting, held on January 9th, 2010, the Board voted by unanimous decision to retire 1,000,000,000 shares of common stock in a 6 month period, whereas today it has issued a board resolution to its Transfer Agent, Guardian Registrar & Transfer, Inc. to immediately retire 100,000,000 Shares of Common Stock. To date, this will total 1,000,000,000 Shares of Common Stock that has been retired.

Frank Yglesias, CEO stated, "We are committed to bringing shareholder value to our investors, thus this is the final 100,000,000 shares to be retired for a grand total of 1,000,000,000 shares since January of 2010.

About China Food Services, Corp.

China Food Services, Corp. owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. (GDHK) in central Hong Kong and Beijing Flying Golden Dragon International Trading Co., Ltd in China (BFGD). China Food Services, Corp. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for GDHK, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Flying Golden Dragon International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.

Safe Harbor Statement

Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.

SOURCE China Food Services, Corp.