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China Medicine Wins Best 1000 SME Award in Guangdong Province; Eligible for RMB 25 Million Loan
Date:5/15/2009

GUANGZHOU, China, May 15 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) (''China Medicine'' or ''the Company''), a leading distributor and developer of prescription and over-the-counter pharmaceuticals, traditional Chinese medicines (''TCM''), nutritional and dietary-supplements, medical devices, and medical formulations in the People's Republic of China (''PRC''), announced today that the Company has received an award for ''Best 1000 Small & Medium Enterprise (SME)'' in Guangdong Province. With this award, the Company is eligible to apply for a RMB 25 million ($3.7 million) loan with zero or minimum interest from the Bank of China, Guangdong branch.

China Medicine was presented the award by the Ministry of Finance in Guangdong Province on May 13, 2009, based on its status as an advanced and innovative Company, and on its reputation and credibility for delivering quality products and services as well as the strength and experience of its management team. Along with the award, the Company is eligible to apply for a one year short-term loan at the principal amount of up to RMB 25 million (approximately US$3,600,000). The interest rate on the loan is based on China's National Benchmark rate. However, 60% of the interest from the loan will be reimbursed by the Ministry of Finance in Guangdong province, and 40% of the interest from the loan will be reimbursed by the local government in Guangdong, provided that the Company is approved for the loan. The Company has started the loan application process and expects to receive the approval in June 2009.

''We are honored to be chosen as one of the best 1000 SME companies in Guangdong Province,'' said Mr. Senshan Yang, Chairman and CEO of China Medicine Corporation. ''With this award, we are entitled to a loan of up to RMB 25 million that will facilitate the financing of our near-term rADTZ commercialization project as well as the lau
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SOURCE China Medicine Corporation
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