DGNG Diguang International Development Co Ltd (PK)

SHENZHEN, China, July 22, 2011 /PRNewswire-Asia-FirstCall/ -- Diguang International Development Co., Ltd. (OTC Bulletin Board: DGNG) ("Diguang" or the "Company") announced today the filing of a Form 15 with the U.S. Securities and Exchange Commission. The Company filed the Form 15 with the SEC in order to effect a termination of registration of its common stock under the Securities Exchange Act of 1934. Upon the filing of Form 15, the Company's obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q and 8-K, was immediately suspended.

The board of directors of the Company considered many factors in making this decision, including:

• the cost associated with preparing and filing periodic reports and other filings with the SEC; and
• the demands placed on management to comply with SEC reporting obligations, which detract from the time available for overseeing the Company's operation and growth.

"A significant amount of resources has been expended over the past several years for auditing, filing and legal expenses in the desire to maintain an OTC Bulletin Board listing," stated Yi Song, chief executive officer of the Company. "We are now going to focus all of our energies and resources on the promotion of our products and research and development of technology. We believe that, at this stage of our operations, using our resources to build our business better serves the interests of our shareholders.

"Our Directors voted for the voluntary deregistration of our common stock after carefully considering the advantages and disadvantages of continuing registration. The costs and administrative burdens associated with being a public company are significant. Our board of directors determined that the costs of compliance, as well as the substantial demands on management time and resources, outweigh the benefits we receive from maintaining our registered status. The filing of the Form 15 will reduce expenses, avoid higher future expenses and enable management to focus more of its time and resources on strategic long-term development, operating the Company and enhancing shareholder value," added Mr. Song.

About Diguang International Development Co., Ltd.

Through its subsidiaries, Diguang develops and produces CCFL and LED backlights for a wide range of TFT-LCD products. A backlight is the typical light source of a liquid crystal display (LCD), with applications spanning televisions, computer monitors, cellular phones, digital cameras, DVDs and other home appliances. Leveraging its LED expertise, the Company also creates and markets energy-saving technologies and solutions for rapidly growing markets such as LED backlight monitors and LED general lighting.

SOURCE Diguang International Development Co., Ltd.