Feihe International Gets Going Private Proposal from CEO at $7.40

Feihe International, Inc.

("Feihe" or the "Company"), one of the leading producers and distributors of premium infant formula, milk powder, and soybean, rice and walnut products in China, today announced that its Board of Directors has received a preliminary, non-binding proposal letter dated October 3, 2012 from Mr. You-Bin Leng ("Mr. Leng"), the Company's Chairman and Chief Executive Officer, and an affiliate of Morgan Stanley Private Equity Asia, the private equity arm of Morgan Stanley ("MSPEA"), to acquire all of the outstanding shares of common stock of the Company not currently owned by Mr. Leng (and possibly other rollover shareholders) in a going private transaction for $7.40 per share of common stock in cash, subject to certain conditions.