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Golden Meditech Releases FY2008/09 Interim Results
Date:11/12/2008

cord blood bank operator in Southeast Asia, but also the World's largest in terms of the total addressable population. Along with the further development of the services in India, Indonesia and other countries, Asia will turn into the largest market of cord blood bank services.

Notable achievements have also been made with the proposed spinoff and U.S. listing of the cord blood bank businesses (China Cordblood Bank Services Corporation, "CCBS"). The Group and the selling shareholders of CCBS have signed agreements with a blank check company Pantheon China Acquisition Corp. ("Pantheon", OTC bulletin board listed) on the proposed sales of CCBS in exchange of Pantheon's ordinary shares at an agreed valuation of the entire CCBS at USD 350 million.

Once the proposed transactions are approved, CCBS will become Pantheon's principal business and Pantheon will be able to pursue listing onto the New York Stock Exchange at any appropriate time. This will make Golden Meditech the first hi-tech healthcare company that contemplates the spin-off and listing of its operations overseas since the establishment of the Growth Enterprise Market in Hong Kong.

The Group's jointly controlled company -- Pypo Digital Company Limited has also reached an agreement with a blank check company Middle Kingdom Alliance Corporation (OTC Bulletin Board listed) to sell all its shares at a valuation of USD 378 million. Once the proposed transaction is completed, the new company will be seeking for listing on NASDAQ.

The management believes that the proposed spin-offs of the two business entities will not only be beneficial to their developments, but also be able to generate long-term return to all Golden Meditech's shareholders.

For inquiry, please kindly contact:

Investor Relations Division

Golden Meditech Company Limited

Tel: +852-3605-8138

Fax: +852-3605-8181

Email: ir@goldenmeditech
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SOURCE Golden Meditech Company Limited
Copyright©2008 PR Newswire.
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