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Encorium Reports Fourth Quarter and Full Year 2008 Financial Results
Date:4/27/2009

h interim asset impairment charge recorded by the Company during the third quarter of 2008 as well as the $12.5 million charge taken in the fourth quarter.

Financial Position

Encorium's balance sheet at December 31, 2008 reflected cash and cash equivalents of $5.7 million and shareholders' equity of $4.2 million. The Company has no outstanding debt. The Company's latest financials have been prepared on a going concern basis. The Company anticipates it will be able to meet its cash requirements through March 2010 assuming it is able to fully implement its cost cutting initiatives, win additional contracts during fiscal 2009 and maintain current customer contracts. If the Company is unable to do this, in order to remain a going concern it will be required to obtain additional capital or significantly reduce operating costs, which may include the cessation of operations in some countries.

About Encorium Group, Inc.

Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its applicati
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SOURCE Encorium Group, Inc.
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