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Genesis Pharmaceuticals Reports Results for the Third Quarter of Fiscal Year 2008
Date:5/15/2008

Capital expenditures totaled $8.6 million, due primarily to the purchase of the land use rights for future manufacture facility expansion.

Business Outlook

Genesis Pharmaceuticals Enterprises, Inc. has five drugs currently approved by the Chinese State Food and Drug Administration, three of which are listed on the national insurance catalog for reimbursement. In addition, sales of the newly launched, Traditional Chinese Medicine over the counter drug, Baobaole chewable tablets, are expected to increase. The Company has several new drugs waiting for government manufacturing and sales approvals.

"We are pleased to report another strong quarter of operations," stated Mr. Cao. "We look forward to receiving approvals for several new drugs that we have submitted to the government for manufacturing and distribution approval. We are increasing the efficiency of our manufacturing processes, and believe that our extensive sales network will allow us to further increase sales of our products throughout China. We look forward to continuing to generate positive financial results."

Conference Call

Genesis Pharmaceuticals Enterprises, Inc. management will host a conference call at 10:00 a.m. Eastern on Friday, May 16, 2008 to discuss financial results for the quarter ended March 31, 2008. The conference call will include Mr. Cao Wubo, Chairman and Chief Executive Officer; Mr. Haibo Xu, COO; and Ms. Elsa Sung, CFO. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (888) 482-0024. International callers should call (617) 801-9702. The Conference Passcode is 514 344 81. If you are unable to participate in the call at that time, replay of the conference call will be available from 12:00 p.m. Eastern on May 16 through Friday, May 30. To access the replay, please call (888) 286-8010. International callers should call (617) 801-6888. The Conference Passcode is 91
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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
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