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Tianyin Pharmaceutical Co., Inc. Authorizes $3.0 Million Stock Repurchase Program
Date:10/28/2008

CHENGDU, China, Oct. 28 /Xinhua-PRNewswire-FirstCall/ -- Tianyin Pharmaceutical, Co., Inc., (Amex: TPI), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today announced that the Company's board of directors has approved a $3 million stock repurchase program.

On October 27, 2008, the Board of Directors authorized the Company to repurchase up to $3.0 million of its common stock through January 2009. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors deemed appropriate by the Company's CEO and President. Repurchases may be in open-market transactions or through privately negotiated transactions, and the repurchase program may be expanded by the Board of Directors in the future. The Company has approximately 15.5 million shares of common stock outstanding and approximately 2.5 million shares are in the public float as of today. Any shares repurchased by the Company in this program will be retired to the treasury while reducing the number of outstanding shares of its common stock.

"After careful consideration and evaluating a number of suitable investment opportunities, we believe an investment in our Company has the potential to yield a significant return for our shareholders," stated Dr. Jiang, Chairman and CEO of Tianyin. "We currently maintain a strong balance sheet, with approximately $12.1 million in net cash and equivalents as of June 30, 2008, and are also cash flow positive from operations. Taking this buyback into consideration, we will have maintained a sufficient cash balance to complete the new solid dosage production plant without the need for raising any additional capital," Dr. Jiang
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SOURCE Tianyin Pharmaceutical, Co., Inc.
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