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China Shengda Packaging Group Board of Directors Voted to Dissolve the Special Committee of Its Board of Directors in Response

China Shengda Packaging Group Board of Directors Voted to Dissolve the Special
 Committee of Its Board of Directors in Response to Chairman's Withdrawal of
                     Non-Binding "Going Private" Proposal

PR Newswire

HANGZHOU, China, Dec. 6, 2012

HANGZHOU, China, Dec. 6, 2012 /PRNewswire-FirstCall/ -- China Shengda
Packaging Group Inc. (NASDAQ: CPGI), ("China Shengda Packaging" or the
"Company"), a leading Chinese paper packaging manufacturer, today announced
that its Board of Directors (the "Board") has voted unanimously to dissolve
the special committee of its independent directors formed on October 15, 2012
to evaluate the preliminary, non-binding "going private" proposal received
from its Chairman, Mr. Nengbin Fang ("Mr. Fang"). The decision to dissolve the
special committee was in response to the withdrawal of Mr. Fang's
above-mentioned proposal on November 13, 2012.

Mr. Fang has informed the Board that he is still in preliminary discussions
with a limited number of shareholders of the Company and potential debt
financing sources, including VStone Investment Management Limited, in each
case regarding their potential participation in a going private transaction,
and that he may approach one or more other shareholders of the Company for
such purpose. There can be no assurance, however, that Mr. Fang will make
another proposal to take the Company private in the future or that if he does
make another proposal to take the Company private that it will be consummated.

About China Shengda Packaging Group Inc.

China Shengda Packaging Group Inc. is a leading paper packaging company in
China. It is principally engaged in the design, manufacturing and sale of
flexo-printed and color-printed corrugated paper cartons in a variety of sizes
and strengths. It also manufactures corrugated paperboards, which are used for
the production of its flexo-printed and color-printed cartons. The company
provides paper packaging solutions to a wide variety of industries, including
food, beverage, cigarette, household appliance, consumer electronics,
pharmaceuticals, chemicals, machinery and other consumer and industrial
sectors in China. For more information, visit http://www.cnpti.com.

Safe Harbor Statement

This press release may contain forward-looking statements. Any statements set
forth above that are not historical facts are forward-looking statements that
involve risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such factors include,
but are not limited to, the Company's ability to secure debt financing, the
ability to complete the proposed transaction, the ability to obtain approvals
required to consummate the transaction, the ability to develop and market new
products, the ability to access capital for expansion and continued investment
in R&D, the ability to acquire other companies, changes from anticipated
levels of sales, changes in national or regional economic and competitive
conditions, changes in relationships with customers, changes in profit margins
of principal product and other factors discussed from time to time in the
Company's filings with the Securities and Exchange Commission. The Company
undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise, except as
required by law.

Company Contact: Investor Relations
Contact:

China Shengda Packaging Group Inc. Weitian Group LLC
Cindy Hu, Board Secretary Tina Xiao
Tel:+86-571-8283-8770 Tel: +1-917-609-0333
E-mail: cindy.hu@cnpti.com Email:
tina.xiao@weitian-ir.com
Website: http://www.cnpti.comWebsite:
http://www.weitian-ir.com

SOURCE China Shengda Packaging Group Inc.

Website: http://www.cnpti.com
 
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