PegBio Co., Ltd. — Board/Management Information 2010

Sep 30, 2010

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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BEIJING YU SHENG TANG PHARMACEUTICAL GROUP LIMITED 北京御生堂藥業集團有限公司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

APPOINTMENT AND RESIGNATION OF DIRECTORS

The Board hereby announces that:

• (i) Ms. Lee Chun Yeung, Catherine has been appointed as Executive Director of the Company with effect from 1 October 2010;

• (ii) Mr. Chau Chung Tak has resigned as Executive Director of the Company with effect from 1 October 2010; and

• (iii) Mr. Xiong Wei has resigned as Independent Non-executive Director and member of the Audit Committee and the Remuneration Committee of the Company with effect from 1 October 2010.

The Board of Directors (the “Board”) of Beijing Yu Sheng Tang Pharmaceutical Group Limited (the “Company” and, together with its subsidiaries, the “Group”) hereby announces that:

1. APPOINTMENT OF EXECUTIVE DIRECTOR

Ms. Lee Chun Yeung, Catherine has been appointed as Executive Director of the Company with effect from 1 October 2010.

Set out below are the biographical details of Ms. Lee Chun Yeung, Catherine:

Ms. Lee Chun Yeung, Catherine (“Ms. Lee”), aged 42, holds a Bachelor of Arts degree from Guangdong University of Foreign Studies (formerly known as Guangzhou Institute of Foreign Languages) and a Master in Business Administration degree from the University of South Australia. Ms. Lee has extensive experience in international trading of metal minerals and commodities. Ms. Lee joined the Group in February 2009 and currently oversees the Group’s operation of supply and procurement of metal minerals and recyclable metal materials. Ms. Lee is also a director of various subsidiaries of the Company. Prior to joining the Group, Ms. Lee worked as an economist in a major commercial bank and a senior executive in a state-owned trading group in the People’s Republic of China.

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Save as disclosed above, as at the date of this announcement, Ms. Lee does not have other major appointments and professional qualifications. Ms. Lee did not held any directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas.

There is a service contract (the “Service Contract”) entered into between a subsidiary of the Company and Ms. Lee. According to the Service Contract, Ms. Lee is not appointed for any specific length or proposed length of service and her term of service shall continue unless terminated by either one party giving to the other two months’ prior notice in writing. The directorship of Ms. Lee with the Company will be subject to retirement by rotation and re-election in accordance with the Company’s Bye-laws. Ms. Lee is entitled to receive a remuneration of HK$910,000 per annum. The remuneration of Ms. Lee is determined with reference to her qualifications, experience, level of responsibilities undertaken and prevailing market conditions. Ms. Lee may also be entitled to receive discretionary bonuses or other benefits as may be decided by the Remuneration Committee of the Company having regard to Ms. Lee’s and the Company’s performance. The remuneration of Ms. Lee will be subject to annual review by the Remuneration Committee of the Company.

As at the date of this announcement, Ms. Lee does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Ms. Lee does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company.

Save as disclosed above, Ms. Lee has confirmed that there are no other matters that need to be brought to the attention of the shareholders of the Company in connection with her appointment and there is no other information to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

2. RESIGNATION OF DIRECTORS

• (i) Mr. Chau Chung Tak (“Mr. Chau”) has resigned as Executive Director of the Company with effect from 1 October 2010 due to his other business commitments which requires more of his dedications.

• (ii) Mr. Xiong Wei (“Mr. Xiong”) has resigned as Independent Non-executive Director and member of the Audit Committee and the Remuneration Committee of the Company with effect from 1 October 2010 as he requires more time to pursue his other business engagements.

Each of Mr. Chau and Mr. Xiong has confirmed that they does not have any disagreement with the Board and that there are no other matters relating to their resignations that need to be brought to the attention of the shareholders of the Company.

The Board would like to welcome Ms. Lee on her appointment as Executive Director of the Company and thank Mr. Chau and Mr. Xiong for their invaluable contributions to the Company during their tenure of offices.

By Order of the Board Suen Cho Hung, Paul Chairman

Hong Kong, 30 September 2010

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As at the date of this announcement, the Board comprises Mr. Suen Cho Hung, Paul (Chairman), Mr. Sue Ka Lok (Chief Executive Officer), Mr. Bai Jianjiang and Ms. Lee Chun Yeung, Catherine as Executive Directors and Mr. Wong Kwok Tai, Mr. Weng Yixiang and Mr. Lu Xinsheng as Independent Non-executive Directors.

* For identification purpose only

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