PRC Government Grants High-Tech Status to AOBO Su...(tthe subsidiary level. By having this r...)

Date:1/13/2009

t the subsidiary level. By having this recognition from the government, we are laying the groundwork for our future growth with eligibility for government funding and grant incentives. We are truly proud that AOBO achieved this esteemed status, especially given that very few companies have successfully achieved this status."

High-tech status is awarded by the PRC to recognize companies that consistently invest in new product development, and have substantial revenues generated by their own proprietary patented or innovative products. In this way, the Chinese government encourages domestic and foreign investment in advanced technologies, and has created a series of preferential tax policies to stimulate and promote the production of high-tech products, the provision of high-tech related services and technology transfers into and within China. The Ministry of Science and Technology of China, the Ministry of Finance and the State Administration of Taxation jointly promulgated the Measures For the Recognition and Administration of New and High-Tech Enterprises, which clearly specifies the requirements for the recognition and administration of new and high-tech enterprises.

About American Oriental Bioengineering, Inc.

American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products in China.

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commiss
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SOURCE American Oriental Bioengineering, Inc. Copyright©2009 PR Newswire. All rights reserved

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