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Shanghai Medical Technology Co., Ltd. Completes Merger With Aamaxan Transport Group, Inc.
Date:5/2/2008

Aamaxan Transport Group completes $12.5 million private placement

SHANGHAI, China, May 2 /Xinhua-PRNewswire-FirstCall/ -- Aamaxan Transport Group, Inc., (the "Company" or "ATG") (OTC Bulletin Board: AAXT) today announced that, effective April 15, 2008, it has completed the acquisition of all the outstanding common stock of Asian Business Management Group Limited, a British Virgin Islands corporation ("ABM"), pursuant to a share exchange agreement. ATG acquired all of the issued and outstanding shares of ABM common stock in exchange for 14,991,812 original issue shares of the Company's common stock (the "Share Exchange").

ABM, through its direct and indirect subsidiaries, including Shanghai Medical Technology Co., Ltd. ("Shanghai Medical"), a PRC company, is the largest provider of Hemodialysis equipment ("HDE") and other related supplies and services, including disposable and diagnostic products and pharmaceuticals, throughout Eastern China.

Simultaneously with the Share Exchange on April 14, 2008, the Company completed a private placement with institutional and accredited investors which resulted in gross proceeds to the Company of approximately $12.5 million through the issuance of approximately 4.0 million shares of Senior Convertible Preferred Stock, in addition to 2.0 million warrants to purchase common stock at $3.91 per share. As part of the private placement, management entered into a "make good agreement" and has placed 4.0 million of its shares into an escrow to secure its obligations to meet specific "Earnings per Share" targets for 2007 and 2008 of $0.31 and $0.45 respectively. If the targets are not achieved, a number of shares derived from the formula will be transferred pro-rata to the investors in the private placement.

With the implementation of China's National Healthcare Reform, the existing Dialysis patients market is projected to grow by 200% to 300% from 2007 to 2010. Total patients are expected to reach more
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SOURCE Aamaxan Transport Group, Inc.; Shanghai Medical TechnologyCo., Ltd.
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