IND Indy Diarytech Limited Com

China One Corporation (TSX VENTURE:IND) is pleased to announce it has signed a
number of additional contracts in China to develop dairy farms at various
locations in China. The contracts are between China One, operating as IND
DairyTech Ltd., and a variety of strategic third parties. A series of new
cooperation agreements, entered into since the last quarter of 2008, cover five
farms. Total commitments for cows to be delivered in 2009 under these new
agreements are approximately 11,000 cows.


China One's contractual partners have also agreed to provide China One with, or
assist the Company in obtaining, term loans for working capital as Canadian
Holsteins are delivered to the farms. Under one of the contracts with Meishan
City, China One is to deliver 2,000 cows by the end of 2009 and another 3,000
cows by the end of 2011. Under another contract with Lingbao City, the Company
is to deliver 3,500 cows by the end of 2009 and another 2,500 cows by the end of
2011. Both contracts include a loan of 10,000 RMB per cow delivered and the
contract with Meishan includes 3,400 RMB per cow subsidy from the local
government. To date, the Company has received a subsidy of 1,600,000 RMB and a
loan for 6,000,000 RMB at an annual interest rate of 7.29% for three years. In
certain other agreements, China One may receive up to 13,000 RMB per cow by way
of loans and, if certain production standards are achieved, subsidies.


"These agreements allow us to better capture incentives that have been
introduced by the Chinese government to stimulate and improve the Chinese dairy
industry following the scandal involving the contamination of milk with
melamine," said Mr. Jesse Zhu, CEO, China One Corporation/IND DairyTech Ltd.
"These contracts also represent a means to more rapidly fulfill our goals and
commitments to develop Canadian-style dairy farms in China. Canadian Holsteins
on a Canadian-style dairy farm typically produce the highest levels of volume
and quality in the world. We currently have approximately 9,000 Canadian
Holsteins in China at various stages of maturity with approximately 2,200 of
them having reached milk production ages. With favourable financing facilities
and terms provided by local partners and subsidies from government agencies, and
taking into account certain planned purchases of Chinese Holstein cows, we
expect to see the total herd size increase to 30,000 by the end of 2009 and to
60,000 by 2010, making IND the largest Canadian Holstein dairy company in
China."


In order to accelerate herd development, the Company plans to buy Chinese
Holstein cows, which are now available at very favourable prices. The Company
has established a significant inventory of approximately 200,000 Canadian
Holstein embryos that it intends to use to impregnate surrogate cows, which will
include the Chinese Holstein cows. This new program enhances the Company's
existing program of utilizing local Chinese yellow cows as surrogates and
purchasing the offspring from the owners of the host Chinese cows.


In mid-November, 2008 the Chinese central government set goals for reforming the
dairy industry in China. These goals include an increase in the number of large
dairy farms in China from the current 20% to 30% of the total, and having dairy
processors obtain 70% of their raw milk from managed sources, by October 2011.
The Company will continue to differentiate itself from typical Chinese dairy
farms by establishing large scale farming operations that follow North American
farming practices, consistent with the reforms prescribed by the Chinese
government.


China One, through its operating subsidiaries, is an emerging raw milk producer
in China that is seeking to become a leading provider of high quality raw milk
to the Chinese dairy industry. To meet China's increasing demand for dairy
products, the Company is using Canadian cattle genetics and North American
farming practices to establish and increase its dairy herd in China. At its 2009
shareholder meeting, China One intends to seek shareholder approval to change
its name to IND DairyTech Ltd.


The Company plans to develop its herd in China through the use of advanced
breeding techniques employing Canadian Holstein embryos that it intends to use
to impregnate surrogate cows. These embryos have been created through in vitro
fertilization using sexed semen to achieve an approximate 90% female birth rate.
The use of these advanced breeding techniques is expected to allow the Company
to rapidly expand its herd. The use of Canadian Holstein embryos also provides a
practical solution to China's ban on the import of live Canadian cattle.


Pursuant to the Qualifying Transaction, China

One acquired all of the issued shares and convertible securities of IND Lifetech
Group in exchange for shares and equivalent convertible securities of China One.
As a result, China One currently owns all of the issued shares and convertible
securities of IND Lifetech Group and its Chinese subsidiaries, and the business
of IND Lifetech Group has become the business of China One. The Filing Statement
describing China One, the terms of the Qualifying Transaction and concurrent
financing, and the business of China One, is available on the SEDAR website at
www.sedar.com.


FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and information that are
based on the beliefs of management and reflect China One's current expectations.
Such statements and information reflect the current view of China One with
respect to risks and uncertainties that may cause actual results to differ
materially from those contemplated in those forward-looking statements and
information.


By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results, performance
or achievements, or other future events, to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. The forward-looking information in this news release
includes the development and increases in herd size in China, information
relating to the loans to be obtained as Canadian Holstein cows are delivered,
the purchase of Chinese Holstein cows, the use of Canadian Holstein embryos to
impregnate surrogate cows, the establishment of large scale North American-style
farming operations in China, the size of China One as a Canadian Holstein dairy
company in China, and the aim of becoming a leading provider of high quality raw
milk to the Chinese dairy industry.


There are a number of important factors that could cause China One's actual
results to differ materially from those indicated or implied by forward-looking
statements and information. Such factors include, among others, risks related to
China One's business such as failure of the business strategy and limited
operating history, reliance on farm development partners, disruptions due to
bovine diseases, dependence on biotechnology, reduction in government support
and access to raw materials; risks related to China One's operations, such as
additional financing requirements and access to capital, the ability to repay
debt, reliance on key personnel, fluctuation in feedstock costs, fluctuations in
costs of production, product spoilage and liability, loss of embryo inventory,
factors related to milk production, fluctuations in milk prices, fluctuations in
milk demand, lack of specificity in certain agreements, litigation, indemnities,
insurance, competition, intellectual property and variations in cow lactation
periods; risks related to China One and its business generally such as potential
exposure to tax under Canadian tax, regulations of the Peoples' Republic of
China (the "PRC") relating to offshore special purpose companies, recent PRC
regulations relating to cross-border mergers and acquisitions, environmental
protection, currency exchange rates and conflicts of interest; and risks related
to doing business in the PRC such as tax, repatriation of profit and currency
conversion, acquisition and appropriation of land use rights, foreign
investment, permits and business licences, employment contracts, government
intervention, shareholders' rights and enforcement of judgments and a developing
legal system.


China One cautions that the foregoing list of material factors is not
exhaustive. When relying on China One's forward-looking statements and
information to make decisions, investors and others should carefully consider
the foregoing factors and other uncertainties and potential events. China One
has assumed a certain progression of its business, which may not be realized. It
has also assumed that the material factors referred to in the previous paragraph
will not cause such forward-looking statements and information to differ
materially from actual results or events. However, the list of these factors is
not exhaustive and is subject to change and there can be no assurance that such
assumptions will reflect the actual outcome of such items or factors. For
additional information with respect to certain of these and other factors, refer
to the risk factors section of China One's Filing Statement dated November 29,
2008 available on SEDAR at www.sedar.com.


The forward-looking information contained in this news release represents the
expectations of China One as of the date of this news release and, accordingly,
is subject to change after such date. Readers should not place undue importance
on forward-looking information and should not rely upon this information as of
any other date. While China One may elect to, it does not undertake to update
this information at any particular time except as required in accordance with
applicable securities legislation.

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