China Growth Development (PINK:CGDI)

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All GeoSpecial Notes Reverse Merger Activity Special Situations

Thursday, July 17, 2008

On November 12, 2007, CGDI entered into an Share Exchange Agreement with Taiyuan Rongan Business Trading Company, Limited, a company formed under the laws of the Peoples Republic of China. The closing of the transaction took place on May 7, 2008 As consideration for the interests, we issued and transferred an aggregate of 31,500,000 shares, or 90% of the Company’s common stock.

As of May 7, 2008 and immediately after Closing, an aggregate of 34,970,001 shares of Common Stock were issued and outstanding,

As a condition precedent to closing we undertook a one for one hundred (1:100) reverse stock split of our outstanding common stock.

The GeoTeam does not believe the reverse split has been reflected yet.

Source: 8-K ( May 14, 2008)

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