Tiens Biotech Group (USA) Reports Fourth Quarter and Twelve-Mon... (ourth quarter of 2007 international reve...)

Tiens Biotech Group (USA) Reports Fourth Quarter and Twelve-Month Results

Date:3/28/2008

ourth quarter of 2007, international revenue was $6.6 million, compared to $9.8 million for the fourth quarter of 2006. For the twelve months ended December 31, 2007, international revenue was $32.4 million, compared to $39.7 million for the comparable period of 2006. This decrease mainly reflects a general sales weakness, particularly to countries in Africa during the second quarter of 2007.

International sales were also impacted by the General Administration of Quality Supervision, Inspection and Quarantine's (AQSIQ) announcement in August 2007 of an ongoing national campaign in China against unsafe food and substandard products. As a result of this campaign by the AQSIQ, there has been a general slow-down in international sales and several of Tiens' international affiliates being unable to receive sufficient quantities of products to meet their demand. However, it is important to note that to date, no problems have been identified with any of Tiens' products. The campaign, which was originally scheduled to finish at the end of 2007, is currently scheduled to continue throughout 2008.

In December 2007, Tiens entered into an agreement to acquire Tianjin Tiens Life Resources Co., Ltd. (Life Resources), a company which is currently constructing research and development, manufacturing and logistic facilities, as well as administrative offices totaling approximately 420,000 square meters in Tianjin, China. The facilities are located 7 kilometers from Tiens' current headquarters in Tianjin. The acquisition closed on March 13, 2008. Tiens estimates that the budget for completion of the Life Resources project will be approximately $220 million, including $64 million already paid to acquire all of the registered share capital of Life Resources. The Company plans to move its headquarters to these new facilities upon completion.

Tiens has developed and produces 33 nutrition supplement products, which include wellness products and dietary nutrition supple
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Tiens Biotech Group (USA) Reports Fourth Quarter and Twelve-Mon...(ourth quarter of 2007 international reve...)