SOURCE: Weikang Bio-Technology Group Co., Inc.

April 16, 2010 08:00 ET

Weikang Bio-Technology Group Co., Inc. Appoints New Independent Members to Board of Directors

HARBIN, CHINA--(Marketwire - April 16, 2010) - Weikang Bio-Technology Group Co., Inc. (OTCBB: WKBT) ("Weikang" or the "Company"), a leading developer, manufacturer and marketer of Traditional Chinese Medicine (TCM), Western prescription pharmaceuticals and other health and nutritional products in the People's Republic of China, today announced that the board of directors has appointed Ms. Yvonne Zhang, Mr. Yilun Jin, Mr. Allen Zhang and Ms. Yan Huang as independent directors of the Company. Together with the current board member, the board of the Company now consists of five members of which the four newly appointed board members are independent directors within the meanings set forth in the rules of NYSE Amex and NASDAQ Stock Market.

Ms. Zhang is a U.S. Certified Public Accountant. From November 2001 to June 2005, Ms. Zhang was the Accounting Manager of Koo Chow & Company, LLP, an accounting firm in Los Angeles, CA. Ms. Zhang also served as the Audit in Charge in Kabani & Company in Los Angeles, CA, from June 2005 to June 2006. In addition, in July 2006, Ms. Zhang established her own business, V-Trust Accounting and Tax Services, in Alhambra, CA, providing consulting services to Chinese based companies going public in the U.S. regarding Chinese GAAP and U.S. GAAP reconciliation, preparation of financial statements in compliance with U.S. GAAP and PCAOB standards and review of financial sections of SEC filings. Since August 2007, Ms. Zhang has been serving as the Chief Financial Officer of Songzai International Holding Group Inc., a coal production and mining company. Ms. Zhang received her Bachelor's degree in accountancy in 1999 and her Master's degree from California State University, Northridge.

Mr. Jin is a certified Chartered Financial Analyst. From August 2002 to December 2003, Mr. Jin was the Management Associate of Citigroup in New York, NY. Mr. Jin then served as the Vice President - Markets and Banking of Citigroup in New York, NY, from January 2004 to September 2008. Since September 2008, Mr. Jin has been serving as the Chief Financial Officer of American Lorain Corporation, an integrated food manufacturing company, listed on NYSE Amex. Mr. Jin received his Bachelor of Arts degree in Economics from Fudan University, Shanghai, China in 1997 and his MBA in International Management with Specialization of Finance from Thunderbird School of Global Management in 2002.

Mr. Zhang has been serving as the International Business Consultant of Oriental Connections/China Railway Construction 18th Bureau Corporation/Shanghai Power Transmission Engineering Company since 2002. Since 2008, Mr. Zhang also has been serving as the Interim Chief Financial Officer of Pansoft Company Limited, an enterprise resource planning (ERP) software solutions and services provider for the oil and gas industry in China. Mr. Zhang received his Bachelor of Science degree in Economics from People's University of China, Beijing, China in 1982 and his Master of Science in Agricultural and Applied Economics from University of Minnesota in 1988.

Ms. Huang is a PRC qualified lawyer. From 1988 to 1992, Ms. Huang participated in the professional business trainings of the copyright law, real estate law, mergers and acquisitions and reorganization. She studied the Russian trade regulations in Moscow in 1993. In 2003, Ms. Huang was awarded the qualification of independent director of listed companies by Chinese Securities Regulatory Commission. Ms. Huang is the founder and the attorney of Hei Longjiang Long Yang Law Firm, Chain, since 2007. Ms. Huang received her Bachelor of Law degree and Master of Civil and Commercial Law degree from Hei Longjiang University in 1987.

Mr. Ying Wang, Chairman and CEO of Weikang Bio-Technology Group Co., Inc. commented, "I would like to personally welcome Ms. Zhang, Ms. Huang, Mr. Jin and Mr. Zhang joining our board as independent directors. We are very fortunate to have such a talented group of people who will bring us their vast experience and expertise in accounting, finance, legal and compliance. Together with our management team, this new board will lead Weikang into the next stage of our corporate growth."

About Weikang Bio-Technology Group Co., Inc.

Weikang Bio-Technology Group Co., Inc. is principally engaged in developing, manufacturing and distributing Traditional Chinese Medicine (TCM), and health and nutritional supplements in China, in compliance with requisite Chinese licenses and approvals. The Company is also expanding its business scope to develop, manufacture and distribute Chinese herbal extract products and GMP certified western prescription pharmaceuticals through its acquisition of Tianfang.

Safe Harbor Statement

Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our S-1 dated March 25, 2010, our 10-K for the year ended December 31, 2009, filed on March 31, 2010 and other recent filings. These filings are available at We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.

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