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Prologue Acquisition Update and Termination of Linkcon Business Combination
Date:9/9/2008

WAYNE, Pa., Sept. 9 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it has entered into an amendment (the "Amendment") to its letter of intent with Prologue Research International, Inc. ("Prologue"). Pursuant to the Amendment, the Company will acquire all of the issued and outstanding stock of Prologue for approximately $11.75 million, consisting of (i) $500,000 in cash that was previously paid to Prologue as a non-refundable exclusivity fee; (ii) $1.13 million of assumed debt obligations; (iii) $2.0 million in senior non-convertible notes with an 8 month term; (iv) $2.0 million in senior non-convertible notes with a 18 month term; and (v) $6.12 million in subordinated convertible notes with a three year term.

Closing of the transaction is subject to approval of the transaction by Encorium's and Prologue's Board of Directors and the signing of a definitive agreement. The closing is expected to occur on September 19, 2008.

Prologue is a specialty clinical research organization ("CRO") focusing on oncology and oncology-related studies. This acquisition would broaden Encorium's therapeutic area of expertise in this very important and high-growth area of drug/biologics development. Prologue reported audited net revenue and EBITDA of approximately $12 million and $660,000 respectively for the latest twelve months ended June 30, 2008. Net revenue has grown more than 60% since 2005.

The Company also announced today it has terminated negotiations with Fine Success Investments, Ltd., a British Virgin Islands comp
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SOURCE Encorium Group, Inc.
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