Le Gaga Holdings Limited Announces Change From Quarterly to Semi-Annual Financial Reporting

Le Gaga Holdings Limited Announces Change From Quarterly to Semi-Annual
Financial Reporting

HONG KONG, Nov. 26, 2013 (GLOBE NEWSWIRE) -- Le Gaga Holdings Limited ("Le
Gaga" or the "Company") (Nasdaq:GAGA), a leading greenhouse vegetable producer
in China, today announced that it will shift to reporting financial results on
a semi-annual schedule, and stop announcing its first and third quarter
financial results.

Because vegetable production is inherently highly seasonal, the Company
believes that individual quarterly financial results may not serve as a very
good indicator of its annual revenue and earnings capability. The Company
believes that fluctuations in quarterly results driven by seasonality create
unnecessary noise in evaluating its financial performance.Furthermore,
results for a quarter may not be directly comparable year on year as the
harvest timing within an annual production cycle can differ significantly year
to year as the Company seeks to capture the best market prices.

For example, the financial results for the most recent quarter ended September
30, 2013 would not have been meaningful as most of the Company's farms were
idle during July through September, as a result of an increasing focus on
production during the winter months. By moving to a semi-annual reporting
schedule, the Company believes it can better smooth out the seasonal
fluctuation and make its interim financial results more indicative of its
annual results.

The Company intends to announce its semi-annual financial results in due
course after the close of its second quarter ending December 31, 2013.

About Le Gaga Holdings Limited (Nasdaq:GAGA)

Le Gaga is a leading greenhouse vegetable producer in China.The Company sells
and markets greenhouse vegetables such as peppers, tomatoes, cucumbers and
eggplants, as well as green leafy vegetables to wholesalers, institutional
customers and supermarkets in China and Hong Kong. The Company has
successfully built a trusted brand among its customers.

The Company currently operates farms in the Chinese provinces of Fujian,
Guangdong and Hebei. Leveraging its large-scale greenhouses, proprietary
horticultural know-how and comprehensive database, the Company specializes in
producing and selling high-quality, off-season vegetables during the winter
months.

CONTACT: For further information, please contact:
         PRChina
         Jane Liu
         Tel: (852) 2522 1838
         Email: jliu@prchina.com.hk
        
         Henry Chik
         Tel: (852) 2522 1368
         Email: hchik@prchina.com.hk

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