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Sinovac Announces Closing of Common Share Offering
Date:2/2/2010

BEIJING, Feb. 2 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. ( SVA) ("Sinovac" or the "Company"), a leading China-based vaccine manufacturer, announced today that its previously announced public common share offering was closed on February 2, 2010. Sinovac received net proceeds of approximately $62.0 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, which included net proceeds from the sale of 1,500,000 common shares pursuant to the full exercise of the underwriters' over-allotment option.

UBS Securities LLC and Piper Jaffray & Co. served as joint bookrunners for the offering.

The offering was made under Sinovac's currently effective shelf registration statements on Form F-3 filed with the Securities and Exchange Commission on November 18, 2009 and January 27, 2010. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities, and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., telephone: 888-827-7275, or Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, Suite 800, Minneapolis MN 55402, U.S.A., telephone: 1-800-754-4781.


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SOURCE Sinovac Biotech Ltd.
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