Kiwa Bio-Tech Products Group Corp (fka KWBT)

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Date: December 19, 2011 09:01 ET
Kiwa Bio-Tech Annual Meeting Report

BEIJING and CLAREMONT, Calif., Dec. 19, 2011 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corporation (OTC BB:KWBT) held its annual meeting Friday in Beijing. Over 68% of the total number of shares outstanding were represented in person or by proxy at the Annual Meeting.

Mr. Wei Li, Mr. Xucheng Hu, Mr. Lianjun Luo and Prof. Qi Wang, as the four individuals receiving the greatest number of votes, were elected to the Board of Directors. Each of them was elected as a director to serve for the term expiring on the date of the Company's 2012 annual meeting and until his or her respective successor is duly elected and qualified.

Paritz & Company, P.A. was appointed to act as the Company's independent auditors for the fiscal year ending December 31, 2011.

The proposal to increase the number of authorized shares to 800,000,000 from 400,000,000 failed to receive a majority of votes in favor and therefore was not approved.