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Lotus Pharmaceuticals Announces Two Senior Management Appointments
Date:9/23/2010

eff Hon. Mr. Hon submitted his resignation to the Company's board of directors, effective September 22, citing personal reasons.

In his new role as Vice President of Corporate Development, Mr. Xing Shen will oversee the Company's strategic business development and internal investor relations functions. Prior to his tenure with Lotus, Mr. Shen worked as an equity analyst at RBC Capital Markets, covering companies in the biotech space. He holds an MBA and a PhD in molecular cancer biology, both from Duke University, as well as a Master of Science degree from Peking University and a Bachelor of Science degree from Wuhan University.

Ms. Yan Zeng is a certified public accountant (CPA) and served as the Company's Chief Financial Officer prior to Jeff Hon's appointment. She also has accounting experience with Liang Fang Pharmaceutical Ltd., a subsidiary of the Company. Prior to joining the Company, Ms. Zeng worked as a registered accountant and auditor with Beijing Topson Certified Public Accountants and as a financial manager for Beijing Unite Youbang Science and Technology Ltd. She holds a bachelor's degree in business from Beijing Information Science and Technology University.

"We are pleased to have Dr. Shen serve as our VP of Corporate Development and believe that his experience with the Company and background in both biotech and finance will prove to be a powerful combination that will benefit Lotus over the long run. We are also pleased to have Yan Zeng return as our CFO, despite Jeff Hon's unfortunate departure," said Dr. Zhongyi Liu, Lotus' Chairman and Chief Executive Officer. "By building a solid senior management team with significant industry experience, we are positioning ourselves to capture a greater share of the pharmaceutical market in China and sustain a high rate of growth while maintaining internal control."

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