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Tiens Biotech Group (USA) Reports Second Quarter and Six-Month Results

entered a Sale and Purchase

Agreement with Tianshi International Investment Group Co., Ltd. (''Tianshi

Investment''). Pursuant to the Sale and Purchase Agreement, Tianshi

Holdings agreed to buy all of the registered share capital of Tianjin

Tiens Life Resources Co., Ltd. (''Life Resources'') for $64.2 million.

The closing of the transaction was subject to government approval of

Transfer of all of the share capital of Life Resources to Tianshi Holdings.

On March 13, 2008, the Chinese government approved the transfer. As

Tianshi Holdings and Life Resources were under common control by Jinyuan

Li before the combination, the combination was treated for accounting

purposes as a pooling of interests. The balance sheet of the Company at

December 31, 2007 and comparative interim financial statements for the

corresponding periods of the preceding fiscal year were adjusted as if

Life Resources had been combined before January 1, 2007. TIENS BIOTECH GROUP (USA), INC. AND SUBSIDIARIES REVENUE BY REGION (Unaudited)

Three months

ended June 30,

2008 2007 Change

China $ 8,509,932 $5,137,313 65.6 %

International $11,144,515 $9,183,169 21.4 %

Total $19,654,447 $14,320,482 37.2 %

Six months

ended June 30,

2008 2007 Change

China $14,615,711 $12,347,614 18.4 %

International $17,859,557 $18,209,657 -1.9 %

Total $32,475,268 $30,557,271 6.3 %

SOURCE Tiens Biotech Group (USA), Inc.
Copyright©2008 PR Newswire.
All rights reserved

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