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

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Apr. 4, 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.

Source: Amira Nature Foods Ltd

John Mills/Katie Turner

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