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China Aoxing Pharmaceutical Honored to Co-Sponsor the 10th National Conference on Drug Dependence and Sino-US Symposium in Drug Abuse and HIV/HCV Co-Morbidity

October 22, 2008

China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) (“China Aoxing”), a China-based pharmaceutical company specializing in research, development, manufacturing and distribution of narcotic and pain-management products, today announced that China Aoxing is honored to co-sponsor the 10th National Conference on Drug Dependence and Sino-US Symposium in Drug Abuse and HIV/HCV Co-Morbidity to be held October 22 and 25, 2008, in Xi’an, China.

The conference, under the stewardship of Chinese National Institute on Drug Dependence (at Beijing University) and Chinese Society of Toxicology, is aimed at strategizing national healthcare policymaking and treatment of drug dependence and HIV/HCV co-morbidity. The conference organizers expect over 200 distinguished academic leaders and medical doctors from leading international institutions and organizations to present recent development and global trend in drug dependence treatment.

Chinese National Institute on Drug Dependence, our partner in developing drug dependence treatment, will present the progress of our collaboration program of Buprenorphine/Naloxone sublingual combo tablet at the one-day special session of Buprenorphine Symposium. This project has been a joint effort of our scientists since April 2005. Compared with other existing pharmacological treatment options, this new combo therapy is expressly designed to combine the proven effectiveness and tolerability of buprenorphine with a lower potential for misuse, underlining our commitment to this therapy area.

“China Aoxing is committed to engendering and promoting safe and effective treatment of opioid drug dependence. We foster a culture of responsible and social-conscious drug therapy; develop tools for healthcare professionals and community to continue to participate in organizations and initiatives that are keys to the success of drug dependence treatment. We are honored to play a role in strategizing the efforts of the rapidly improving China healthcare,” said Zhenjiang Yue, Chairman and CEO of China Aoxing.

“We are delighted that our collaborator, Chinese National Institute on Drug Dependence, once again co-organizes this very important medical event. As a national organization dedicated to drug dependence and facilitating Chinese healthcare policymaking, it leads by example and contributes to the shared vision of providing safe and effective therapy for human well-being,” added Ms. Liying Yang, the Head of R&D of China Aoxing.

About Drug Dependence in China

Drug dependence, opioid dependence in particular, has become a serious medical and social challenge in China. As of 2006, there were approximately 1.2 million registered individuals addicted to opioids in China. This figure is estimated to grow at 10% per year while the number of un-registered drug addicts could be significantly higher. It has been an enduring issue in the Unites States. As of 1998, only about 115,000 methadone maintenance treatment (MMT) slots were available for opioid dependence therapy. However, during the same time period, approximately 980,000 individuals in the United States were addicted to heroin. Furthermore, in 2002 an estimated 4.4 million people were users of prescription pain medication, and 936,000 of them were estimated to have non-medical dependence upon prescription pain medications.

About Buprenorphine/Naloxone Treatment for Drug Dependence

Opioid dependence is a chronic, relapsing medical condition that requires long-term treatment and patient support. Current standard maintenance therapies are methadone and buprenorphine, both of which bind to the opioid receptors in the brain. A combo therapy was developed based on Naloxone, an opioid receptor antagonist, alongside Buprenorphine, which is designed to limit the potential for misuse and potentially lower the street value and the incentive for diversion. This combo therapy was approved by the US FDA in late 2002, and just became available in the UK in 2007, sold by a Fortune 500 global pharmaceutical company.

About China Aoxing Pharmaceutical Company, Inc.

China Aoxing Pharmaceutical Company, Inc. (OTCBB: CAXG) is a pharmaceutical company located in China specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, the pharmaceutical capital of China, outside of Beijing, the Company has China’s largest product pipeline and largest manufacturing facility (1.2 million sq. ft.) for highly regulated narcotic medicines, addressing a very under-served and fast-growing market in China. Its facility is one of the few GMP facilities licensed for narcotics medicines. The Company has two drugs on the market and has received China SFDA licenses for research and clinical development of seven more medications, including Oxycodone, Tilidine, Buprenorphine and Pholcodine. The Company is working closely with the Chinese government and SFDA to assure the strictly regulated availability to medical professionals of its narcotic drugs and pain medicines throughout China.

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other risk factors identified in the Company’s filings with the Securities and Exchange Commission, including the Form 10-K for the year ended June 30, 2008, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

 Contact:  China Aoxing Pharmaceutical Dr. Hui Shao Senior Vice President China Aoxing Pharmaceutical 646 - 512 - 5662  

SOURCE: China Aoxing Pharmaceutical Co., Inc.