PegBio Co., Ltd. — Regulatory Filings 2010

May 4, 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 *

• (formerly known as Poly Development Holdings Limited 保興發展控股有限公司 ) (Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

CHANGE OF COMPANY NAME, CHANGE OF STOCK SHORT NAME AND CHANGE OF COMPANY WEBSITE

The Board is pleased to announce that with effect from 30 March 2010, the name of the Company has been changed to “Beijing Yu Sheng Tang Pharmaceutical Group Limited” and the Company has adopted the Chinese name of “北京御生堂藥業集團有限公司” for identification purpose.

The Shares will be traded on the Stock Exchange under the new stock short name of “BJ YUSHENGTANG” in English and “北京御生堂” in Chinese with effect from 9:30 a.m. on 7 May 2010. The stock code of the Company remains as “1141”.

The website of the Company will be changed to www.beijingyst.com with immediate effect to reflect the change of name of the Company.

Reference is made to the announcement of Beijing Yu Sheng Tang Pharmaceutical Group Limited (formerly known as Poly Development Holdings Limited) (the “Company”) dated 22 February 2010 and the circular of the Company dated 2 March 2010 (the “Circular”). Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as those defined in the Circular.

CHANGE OF COMPANY NAME

The Board is pleased to announce that the Certificate of Incorporation on Change of Name was issued by the Registrar of Companies in Bermuda on 13 April 2010, certifying that the Company has changed its name and was registered as “Beijing Yu Sheng Tang Pharmaceutical Group Limited” on 30 March 2010. The Name Change and the adoption of the Chinese name “北京御生堂藥業集團有限公司” for identification purpose have become effective on 30 March 2010.

The Certificate of Registration of Change of Corporate Name of Non-Hong Kong Company was issued by the Registrar of Companies in Hong Kong on 27 April 2010.

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CHANGE OF STOCK SHORT NAME

The Shares will be traded on the Stock Exchange under the new stock short name of “BJ YUSHENGTANG” in English and “北京御生堂” in Chinese with effect from 9:30 a.m. on 7 May 2010. The stock code of the Company remains as “1141”.

EFFECT OF THE CHANGE OF COMPANY NAME

The Name Change will not affect any of the rights of the Shareholders. All existing share certificates in issue bearing the former name of the Company will continue to be effective as documents of title to and remain valid for trading, settlement and registration purposes. There will not be any arrangement for free exchange of the existing share certificates of the Company for new share certificates bearing the new name of the Company.

However, share certificates of the Company will be issued in the new name of the Company with effect from 4 May 2010.

CHANGE OF COMPANY WEBSITE

The Board further announces that the website of the Company will be changed to www.beijingyst.com with immediate effect to reflect the change of name of the Company.

By Order of the Board Suen Cho Hung, Paul Chairman

Hong Kong, 4 May 2010

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 Mr. Chau Chung Tak as Executive Directors and Mr. Wong Kwok Tai, Mr. Weng Yixiang, Mr. Lu Xinsheng and Mr. Xiong Wei as Independent Non-executive Directors.

* For identification purpose only

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