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Renhuang Appoints PricewaterhouseCoopers to Develop a SOX 404 Compliance Program
Date:5/27/2010

HARBIN, China, May 27 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), announced today that it has engaged PricewaterhouseCoopers ("PwC") to assist the Company in preparing for the compliance of the internal control over financial reporting requirements of Article 404 of the Sarbanes-Oxley Act ("SOX 404") for the fiscal year 2010.

PwC is a leading global accounting, tax, and professional services firm which has assisted many companies listed in the US in establishing and maintaining SOX 404 compliance programs. PwC will provide counseling and support to Renhuang's management team to help prepare a SOX 404 compliance program, evaluate and document new procedures for the Company's internal controls and make recommendations to manage SOX 404 compliance. PwC will play an important role in assisting Renhuang to achieve its goal of strengthening all internal control over financial reporting in compliance with the SOX 404 requirements.

"We are pleased to engage PwC's assistance in this important effort to ensure that Renhuang is in full compliance with the SOX 404 reporting requirements," said Mr. Shaoming Li, Chairman and Chief Executive Officer of Renhuang. Mr. Li added "Working with PwC, a leading global accounting firm, will further strengthen our internal controls, corporate governance and risk management procedures. We are committed to establishing and maintaining sound corporate governance principles, which is critical to creating long-term shareholder value. We hope that our efforts will increase shareholders' confidence in our financial reporting and internal
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SOURCE Renhuang Pharmaceuticals, Inc.
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