Tibet Pharmaceuticals Announces Closing of Initial Public Offering on NASDAQ

SHANGRI-LA COUNTY, China, Jan. 24, 2011 /PRNewswire/ -- Tibet Pharmaceuticals, Inc. (Nasdaq: TBET), an emerging specialty pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China, today announced that it has closed its initial public offering of 3,000,000 shares of common stock at a public offering price of $5.50 per share.

The size of the offering closed at the maximum end of the 2,500,000 to 3,000,000 share range as previously disclosed in Tibet's registration statement filed with the U.S. Securities and Exchange Commission.  There were over 1,000 investors that purchased shares in the offering.  The common shares are expected to begin trading mid-morning tomorrow, January 25, 2011, under the ticker symbol "TBET" on the Nasdaq Global Market.

Anderson & Strudwick, Inc, acted as the lead placement agent for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered shares, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

A copy of the prospectus relating to the offering may be obtained from:

About Tibet Pharmaceuticals, Inc.

Based in Shangri-La County, Yunnan Province, China, Tibet Pharmaceuticals, Inc. (Nasdaq: TBET) is a is a rapidly growing specialty pharmaceutical company engaged in the research, development, manufacturing and marketing of modernized traditional Tibetan medicines in China. With over 190 full-time employees and national-wide distributors, the Company develops both prescription and over-the-counter ("OTC") traditional Tibetan medicines that promote health in human respiratory, digestive, urinary and reproductive systems. Tibet's products are sold throughout China, with a majority of sales concentrated in the southern provinces, most notably the Yunnan Province, where the Company's 52,000 sq. ft. fully GMP-certified manufacturing facilities are located.  The access to key raw materials is not generally available outside the province and provides a significant advantage for Tibet.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

SOURCE Tibet Pharmaceuticals, Inc.

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