Amira Nature Foods Ltd Enters South Korean Market with New Customer Agreement to Supply Indian Specialty Rice

  Amira Nature Foods Ltd Enters South Korean Market with New Customer
  Agreement to Supply Indian Specialty Rice

Business Wire

DUBAI, United Arab Emirates -- April 04, 2013

Amira Nature Foods Ltd (the “Company” or “Amira”) (NYSE: ANFI), a leading
global provider of packaged Indian specialty rice, today announced that its
subsidiary, Amira Pure Foods Private Limited, has entered into an agreement
with a new South Korean customer to supply Indian medium short grain specialty
rice for approximately $8.0 million, thereby making its first entry into the
large South Korean market. The $8.0 million of revenue under the contract is
expected to be recognized in the first and second quarter of fiscal year
ending March 31, 2014.

“We are extremely pleased with our entry into the South Korean market,” stated
Karan A. Chanana, Amira’s Chairman and Chief Executive Officer. “Our team is
intently focused on our key growth initiative to expand into new geographies,
and this South Korean customer is an example of the vast opportunity for the
future growth of Amira’s third party branded products and our Amira branded
products in these geographies.”

About Amira Nature Foods

Founded in 1915, Amira has evolved into a leading global provider of packaged
Indian specialty rice, with sales in over 40 countries today. Amira sells
primarily Basmati rice, a premium long-grain rice grown only in certain
regions of the Indian sub-continent, under their flagship Amira brand as well
as under other third party brands. Amira sells its products primarily in
emerging markets through a broad distribution network. Amira’s headquarters
are in Dubai, United Arab Emirates, and it also has offices in India,
Malaysia, Singapore, the United Kingdom, and the United States.

Cautionary Note on Forward-Looking Statements

This release may contain forward-looking statements within the meaning of the
U.S. federal securities laws. These forward-looking statements generally can
be identified by phrases such as that we or our members of management
“believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other
words or phrases of similar import. Specifically, these statements include,
among other things, statements that describe our expectations for the global
rice market, the financial impact of new sales contracts on our revenue, our
expectations regarding the successful efforts of our distribution partners,
and other statements of management’s beliefs, intentions or goals. It is
uncertain whether any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do, what impact they
will have on our results of operations, financial condition, or the price of
our ordinary shares. These forward-looking statements involve certain risks
and uncertainties that could cause actual results to differ materially from
those indicated in such forward-looking statements, including but not limited
to our ability to perform our agreements with customers; our ability to
recognize revenue from our contracts; continued competitive pressures in the
marketplace; our reliance on a few customers and distribution partners for a
substantial part of our revenue; our ability to implement our plans, forecasts
and other expectations with respect to our business and realize additional
opportunities for growth; and the other risks and important factors contained
and identified in our filings with the Securities and Exchange Commission. All
forward-looking statements attributable to us or to persons acting on our
behalf are expressly qualified in their entirety by these risk factors. Other
than as required under the securities laws, we undertake no obligation to
update any forward-looking or other statements herein, whether as a result of
new information, future events or otherwise.

Contact:

ICR
John Mills/Katie Turner
646.277.1220
 
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