China Growth Development Achieves Full Occupancy of Newest Shopping Mall, Primed to Add 1.9 Million in Annual Revenue

China Growth Development Inc. (OTCBB: CGDI), a Chinese commercial property developer and operator, has achieved full occupancy of its newest structure, which equates to the anticipated addition of $1.9 million U.S. dollars in annual gross revenue. The Xicheng Shopping Mall - Phase II, located in Taiyuan, China is a five story mall with 21,000 square meters of commercial space for retail stores.

The Company, which operates six (6) shopping malls located in the Shanxi Province, currently generates positive cash flow through existing operations. In the remainder of 2009, the company intends to continue efforts to expand our presence in the commercial real estate market through potential acquisitions and construction of new facilities.

“We are pleased to announce that our newest shopping mall has reached full occupancy, which translates to increased annual revenue growth for the company,” stated Sam Liu, COO. “The tenants normally pay in advance for up to a 10 year lease period, and this is a significant factor in reducing China Growth Development Inc.‘s exposure to fluctuations in the commercial real estate market.”

The company notes that China's economy has experienced significant growth over the past few years and that has increased the demand for commercial space.

China Growth Development Inc. intends to grow and expand its commercial real estate business. The company desires to acquire an additional 2 shopping centers within the next three years in addition to capitalizing on existing development rights.

“We aim to have these and future developments enhance China Growth Development’s balance sheet and thus shareholder value,” added Mr. Liu.

About China Growth Development

China Growth Development is a real estate development company that currently operates over 80 million in assets through six shopping malls in the Shanxi Provence, China.

Safe Harbor Statement

This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Such factors include, among others, the following: international, national and local general economic and market conditions: demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to successfully make and integrate acquisitions; raw material costs and availability; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; changes in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; and other factors referenced in this and previous filings. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

China Growth Development (CE) (USOTC:CGDI)
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