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Sinovac Announces Exercise of Over-Allotment Option
Date:2/1/2010

BEIJING, Feb. 1 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. ( SVA) ("Sinovac" or the "Company"), a leading China-based vaccine manufacturer, announced today that the underwriters of its previously announced public common share offering have exercised in full their option to purchase an additional 1,500,000 common shares to cover over-allotments in the offering. As a result, Sinovac will issue and sell a total of 11,500,000 common shares at $5.75 per common share in this offering, including the 1,500,000 common shares pursuant to the exercise of the over-allotment option. Sinovac expects issuance and delivery of all 11,500,000 common shares to occur on February 2, 2010, subject to customary closing conditions.

Sinovac will receive net proceeds of approximately $62.0 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.

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

The offering is being 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,
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SOURCE Sinovac Biotech Ltd.
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