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China Biopharmaceuticals Holdings, Inc. Shareholders Overwhelmingly Support Merger with NeoStem, Inc., a NYSE AMEX Listed Company Trading Under Symbol 'NBS'
Date:10/29/2009

NEW YORK, Oct. 29 /PRNewswire-FirstCall/ -- China Biopharmaceuticals Holdings, Inc. (OTC Bulletin Board: CHBP), an integrated bio-pharmaceutical company, based in the People's Republic of China, announced today that its shareholders have approved the acquisition of CHBP by NeoStem, Inc. (NYSE AMEX: NBS) by an overwhelming vote in favor of approximately 80% of all issued and outstanding shares. The approval was obtained at a Special Meeting of Stockholders held today.

The acquisition will add significant potential benefits to the growth prospects of Suzhou Erye Pharmaceuticals Company Ltd. ("Erye"), CHBP's primary asset, including:

    A.  Benefits associated with being part of a publicly traded NYSE AMEX
        listed company.
    B.  Enhanced distribution channels with global market potential.
    C.  Leadership by an internationally recognized medical advisory board and
        executive management team led by Dr. Robin L. Smith, an experienced
        healthcare executive, who will be overseeing the combined operations.
    D.  Significant growth opportunities in the rapidly developing Stem Cell
        treatment and therapy segment of healthcare.
    E.  Enables the combined entity to source drugs and treatments from each
        other's pipeline.
    F.  Enhances company transparency and corporate governance enabling
        greater visibility in capital markets.

The Merger will expand the business potential and drug development opportunities with the addition of NeoStem's innovative Stem Cell therapy treatments. The expanded channels of development and distribution should boost the Company's portfolio of over 100 drugs on seven GMP lines, while benefiting distribution channels globally.

Madame Zhang, General Manager of Erye, said, "This Merger will allow us to expand the business potential of Eyre
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SOURCE China Biopharmaceuticals Holdings, Inc.
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