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Pantheon China Acquisition Corp. to Acquire China Cord Blood Services Corporation - Extension Proxy Filed With SEC
Date:11/11/2008

closing, Pantheon Cayman will change its name to China Cord Blood Services Holdings Corporation.

In light of the anticipated timetable for the acquisition, Pantheon also announced the approval by its board of directors of a resolution extending the time available for it to consummate a "business combination" until September 30, 2009 and a recommendation that the stockholders of Pantheon vote to approve an amendment to its certificate of incorporation to effect this extension. Pantheon has set November 19, 2008 as the record date for the stockholders entitled to vote at its special meeting to be held on December 14, 2008 to approve this resolution and related proposals. Preliminary proxy materials were filed with the Securities and Exchange Commission on Friday, November 7, 2008 in relation to the solicitation of Pantheon's stockholders in connection with the special meeting.

CHINA CORD BLOOD SERVICES

CCBS received its first license in Beijing in 2003 and was the first licensed cord blood banking operator in China. It has subsequently expanded its business to Guangdong province in 2007 and achieved substantial progress thereafter. CCBS is currently the largest cord blood banking operator in China in terms of geographical coverage and is the only market player with two (i.e., Beijing and Guangdong) out of six cord blood bank licenses issued by the PRC government authorities to date. Under the current PRC government regulations, only one licensed cord blood bank operator is permitted to operate in each licensed region.

Mark D. Chen, Chairman, Chief Executive Officer and President of Pantheon, stated, "As the first and only cord blood banking operator who possesses more than one license in China, CCBS serves the Beijing and Guangdong markets with over 1.1 million babies per annum. China's large and growing population combined with the rising interest in cord blood banking services will continue to drive demand and enhance CCBS's business per
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SOURCE Pantheon China Acquisition Corp.
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