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China Medicine Corporation Held Annual General Meeting of Shareholders

Posted on: Thursday, 29 May 2008, 09:00 CDT

GUANGZHOU, China, May 29 /Xinhua-PRNewswire/ -- China Medicine Corporation (BULLETIN BOARD: CHME) ("China Medicine" or "the Company"), a leading distributor and developer of prescription and over-the-counter pharmaceuticals, traditional Chinese medicines ("TCM"), nutritional and dietary-supplements, medical devices, and medical formulations in the People's Republic of China ("PRC"), announced that it held its 2008 Annual General Meeting of Shareholders (the "AGM") on May 16th, 2008, in New York City.

At the meeting, the proposal for the election of five directors to serve until the AGM in 2009, as set out in the Company's definitive Proxy Statement, was approved. Specifically, the shareholders elected Mr. Senshan Yang, Ms. Minhua Liu, Mr. Robert Alder, Ms. Rachel Gong and Mr. Yanfang Chen as members of the Board of Directors of the Company.

About China Medicine Corporation

China Medicine Corporation is a leading pharmaceutical company which discovers and develops medical formulations and distributes over 2,200 pharmaceutical products in China including prescription and over-the-counter drugs, traditional Chinese medicine products, herbs and dietary supplements. The Company distributes the products to wholesale distributors in 28 provinces and to more than 300 hospitals, 500 medicine companies, and 1,788 drug stores throughout China. The Company actively develops a number of proprietary products for many uses including oncology, high blood pressure and the removal of toxins from food and animal feeds. For more information visit the Company's website at http://www.chinamedicinecorp.com/ .

Cautionary Statement

This press release contains forward-looking statements concerning the Company's business and products. The Company's actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, obtaining regulatory approval for new products, the expected contribution of higher margin products, government support for rural health care, competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. China Medicine Corporation undertakes no duty to revise or update any forward- looking statement to reflect events or circumstances after the date of this release.

For more information, please contact: Company Contact: Ms. Huizhen Yu Chief Financial Officer China Medicine Corp Tel: +86-20-8739-1718 Email: konzern08@163.com Website: http://www.chinamedicinecorp.com/ Investor Relations Contact: Mr. Crocker Coulson President CCG Elite Investor Relations Tel: +1-646-213-1915 (NY Office) Email: crocker.coulson@ccgir.com Website: http://www.ccgelite.com/

China Medicine Corporation

CONTACT: Company Contact: Ms. Huizhen Yu, Chief Financial Officer ofChina Medicine Corp, +86-20-8739-1718, or konzern08@163.com; Or InvestorRelations Contact: Mr. Crocker Coulson, President of CCG Elite InvestorRelations, +1-646-213-1915 (NY Office), crocker.coulson@ccgir.com

Source: PRNewswire

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