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American Oriental Bioengineering Completes Two Acquisitions
Date:10/21/2008

Terminates Prior LOI and Acquires Profitable Holding Company to Strengthen

Distribution Network and Retail Presence Acquires Research and Product Development Company to Expedite Product

Launches

Conference Call Scheduled for October 22, 2008 at 8:00 am E.T.

NEW YORK, Oct. 21 /Xinhua-PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB) ("AOBO"), a leading marketer and manufacturer of pharmaceutical and healthcare products in China, today announced that it has completed the acquisition of Nuo Hua Investment Company Ltd. ("Nuo Hua"), as well as the acquisition of GuangXi HuiKe Research and Development Company Ltd. ("GHK"), in cash transactions totaling $53.1 million. Nuo Hua is a holding company with subsidiaries and affiliated companies that maintain a significant presence in pharmaceutical wholesale and retail distribution in China. AOBO acquired Nuo Hua for $39.5 million after terminating a previously announced, non-binding Letter of Intent to acquire another company in the distribution industry in China, as discussed below. GHK is engaged in pharmaceutical research and product development leading to SFDA approval and expedient product launches in China. The acquired companies are profitable and AOBO believes that the acquisitions will significantly enhance AOBO's distribution platform and product launch capabilities, particularly for new product launches starting in 2009.

Tony Liu, Chief Executive Officer of American Oriental Bioengineering stated, "We are very pleased to acquire Nuo Hua and GHK and today's announcement represents a major step toward achieving our goal of becoming one of China's top pharmaceutical companies. Nuo Hua provi
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SOURCE American Oriental Bioengineering, Inc.
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