SOURCE: Benda Pharmaceutical, Inc.

September 21, 2007 10:39 ET

Benda Takes Major Step Toward Qualification for NASDAQ Listing by Establishing Independent Board

Benda Appoints Mr. Charles Mo as Third Independent Director and Chairman of the Audit Committee

HUBEI PROVINCE, CHINA--(Marketwire - September 21, 2007) - Benda Pharmaceutical, Inc. ("Benda" or the "Company") (OTCBB: BPMA), a China-based pharmaceutical company producing traditional Chinese and conventional medicines, as well as Gendicine®, the world's first commercialized gene therapy medicine for the treatment of cancer, announced today that it has appointed Mr. Charles Mo as the third independent director on the Board and Chairman of the Audit Committee, effective September 14, 2007. Mr. Mo's appointment establishes the Benda Board as independent; Benda now satisfies all NASDAQ corporate governance requirements.

Mr. Mo is an American certified public accountant (CPA), licensed to practice in the states of California and New Hampshire. He has over 30 years of experience in public and corporate accounting, finance, governance and operations. He is the founder and general manager of Charles Mo & Co., an executive search firm. He previously served as COO and CFO of Coca-Cola Shanghai and CFO of Nike China. Mr. Mo holds an MBA from California State University, Fullerton. He is fluent in English, Mandarin and Cantonese.

With his extensive experience in public accounting and financial and internal control management, Mr. Mo meets SEC and NASDAQ criteria to serve as the Board's "financial expert." The addition of Mr. Mo creates a five-man Board with a majority of independent directors.

The other independent directors on Benda's Board are John Micek, Managing Director of Silicon Prairie Partners, LP, a Palo Alto, California-based venture fund and Q.Y. Ma, Managing Director of New York-based venture capital firm Time Innovation Ventures. The Benda officers serving on the Board are Mr. Yiqing Wan (CEO) and Mr. Eric Yu (CFO).

"Benda Pharmaceutical is deeply committed to continually improving its corporate governance and fulfilling its corporate responsibilities as a U.S. public company," said Mr. Yiqing Wan, Benda Chairman and CEO. "The appointment of Charles Mo is a major milestone and one essential to that effort. His comprehensive knowledge of internal controls and the U.S. capital markets will help us develop a strong corporate governance and financial reporting system. Benda intends to apply for a NASDAQ Capital Market listing in the very near future and the appointment of Mr. Mo is an indication of our firm commitment to that aim."

About Benda Pharmaceutical, Inc.

Benda Pharmaceutical, Inc. (www.bendapharma.com), a China-based pharmaceutical company, is a pure play on explosive Chinese pharmaceutical spending and the global search for a cancer cure. Benda produces traditional Chinese and conventional medicines, as well as Gendicine®, the world's first commercialized gene therapy medicine for the treatment of cancer.

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