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SkyPeople Comments on Unusual Market Activity

XI'AN, China, July 18, 2016 /PRNewswire/ -- SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a producer of fruit juice concentrates, fruit juice beverages and other fruit-related products, today is issuing this news release in response to unusual market activity in its common stock. The Company's common stock experienced much higher than usual trading volume and significant stock price gains on both July 14th, 2016, and July 15th, 2016. The NASDAQ Stock Market ("Nasdaq") placed a trading halt on the Company's common stock effective July 15th, 2016 at 4:00 pm Eastern Time, pending its request for additional information from the Company.

As disclosed by the Company in this news release, on or about July 15, 2016, SkyPeople discovered an online news item appearing on the Chinese website EGD1319.com written in Chinese that was attributed to Future World Group. The news item stated that Future World Group had successfully gained a listing on Nasdaq by acquiring SkyPeople and that it had become the controlling shareholder of SkyPeople. This online news item is inaccurate.

On July 10, 2016, Future World Investment Holding Limited, a British Virgin Islands company, and its sole shareholder, entered into a share purchase agreement with Mr. Yongke Xue, the largest shareholder, Chairman and Chief Executive Officer of SkyPeople, and certain companies controlled by Mr. Xue through which Mr. Xue holds shares of SkyPeople's common stock. Pursuant to the share purchase agreement, Mr. Xue and his controlled entities agreed to sell substantially all of the SkyPeople shares owned by them to Future World Investment Holding Limited, but only upon the occurrence and completion of identified conditions to such a sale. These conditions include, but are not limited to, the shares subject to the sale being released from a pledge securing certain obligations to third parties, Mr. Xue obtaining funding for and reaching agreement with the Company for the purchase of certain of the Company's operating entities, and the Company's Board and shareholders approving the...


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