Summary of ENERGROUP HOLDINGS CORP

Item 1.01. Entry into a Material Definitive Agreement.

Effective September 18, 2008, in connection with his appointment as Chief Financial Officer, Energroup Holdings Corporation (the "Company") entered into a three-year employment agreement with Mr. Yizhao Zhang. Mr. Zhang's compensation as Chief Financial Officer of the Company is set forth in an employment agreement with the Company dated September 18, 2008. Under that agreement, Mr. Zhang is to be paid an annual salary of $180,000, and will be eligible to participate equity or non-equity bonus programs to be determined by the Board. The foregoing description is qualified in its entirety by reference to the employment agreement, a copy of which is attached as Exhibit 99.1 to this current report on Form 8-K.

Item 5.02 Departure and Appointment of Chief Financial Officer

Effective September 18, 2008, Mr. Yizhao Zhang was appointed as the Chief Financial Officer of the Energroup Holdings Corporation (the "Company"), to serve until April 30, 2011, unless and until earlier terminated, or he resigns and when his successor is duly appointed and qualified. Mr. Zhang's appointment as Chief Financial Officer has been approved by the Board of Directors of the Company.

Mr. Zhang replaces Wang Shu, who tendered her resignation as Chief Financial Officer of the Company effective on the same date as Mr. Zhang's appointment. Ms. Wang shall continue to be employed by the Company in a management capacity.

Mr. Zhang graduated with a Bachelor of Economic Science from Fudan University in 1992. In 2003, he graduated with a Master of Business Administration from the State University of New York, University at Buffalo.

Mr. Zhang has over 13 years of experience in corporate finance, accounting, financial advisory and portfolio investment. From May 2007 through May 2008, he was Chief Financial Officer of Shengtai Pharmaceutical Inc., an OTCBB company. From April 2006 through December 2006, Mr. Zhang acted as the Deputy Chief Financial Officer of China Natural Resources, Inc., a NASDAQ-listed company. From April 2005 through April 2006, he was the vice president and senior manager of Chinawe Asset Management Consultancy Limited, a US public company which mainly manages non-performing loan assets in China. Previously, Mr. Zhang worked as a portfolio manager and foreign exchange and common stock trader with the South Financial Service Corporation from 1993-1999.

Mr. Zhang is a Certified Public Accountant certified by the Delaware State Board of Accountancy. He is also a member of the American Institute of Certified Public Accountant (AICPA).