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China Biologic Waived Application of Preferred Shares Rights Agreement
Date:6/10/2013

BEIJING, June 10, 2013 /PRNewswire-FirstCall/ -- China Biologic Products, Inc. (Nasdaq: CBPO, "China Biologic" or the "Company"), a leading fully integrated plasma-based biopharmaceutical company in China, today announced that the Company has waived the application of its Preferred Shares Rights Agreement dated as of November 20, 2012 (the "Rights Agreement") to the RAAS SPA (as defined below).

On May 21, 2013, Shanghai RAAS Blood Products Co., Ltd. ("RAAS"), a public company listed on the Shenzhen Stock Exchange and a direct competitor of the Company in China, entered into a stock purchase agreement with Ms. Siu Ling Chan ("Ms. Chan"), one of the stockholders of the Company, and her spouse, Mr. Tung Lam (the "RAAS SPA", and the share acquisition transaction contemplated thereby, the "Proposed RAAS Transaction"). Based on the terms of the RAAS SPA, the board of directors of the Company previously determined on May 29, 2013 that RAAS had become an Acquiring Person as defined under the Rights Agreement.

On June 7, 2013, RAAS issued a public announcement in Chinese, stating that the shareholders of RAAS who attended its special shareholders meeting held on the same day have unanimously voted against the Proposed RAAS Transaction and RAAS has determined to terminate the Proposed RAAS Transaction. Later on the same day, Ms. Chan filed a Schedule 13D/A (the "Chan 13D/A") and RAAS filed a Schedule 13G (the "RAAS 13/G") with the U.S. Securities Exchange Commission. Both the Chan 13D/A and the RAAS 13/G state that the RAAS SPA was mutually terminated by the parties thereto on June 7, 2013, effective retroactively as of May 21, 2013, the date on which the RAAS SPA was executed (the "RAAS SPA Termination"). In light of the RAAS SPA Termination, the board of directors of the Company made a determination today to waive the application of the Rights A
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SOURCE China Biologic Products, Inc.
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