Tongjitang Establishes Special Committee to Evaluate Buyout Proposal

SHENZHEN, China, April 12 /PRNewswire-Asia-FirstCall/ -- Tongjitang Chinese Medicines Company (the "Company" or "Tongjitang") (NYSE: TCM), a leading specialty pharmaceutical company focusing on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China, today announced that it has established a special committee (the "special committee") to evaluate the proposal presented on April 8, 2010 by Hanmax Investment Ltd. and Fosun Industrial Co., Ltd. If the proposal is accepted, Hanmax Investment Ltd. and Fosun Industrial Co., Ltd. will acquire all of the outstanding ordinary shares of the Company (including ordinary shares outstanding in the form of American Depositary Shares) in a merger transaction under Cayman Islands law that would result in the Company becoming a privately-held company.

The special committee is composed of the Company's three independent directors: Mr. Yongcun Chen, Dr. Harry K. Genant, and Mr. David R. White. The special committee was directed to review the proposal, and intends to provide an assessment of the proposal to the Company.

About Tongjitang Chinese Medicines Company

Tongjitang Chinese Medicines Company, through its operating subsidiaries Tongjitang Pharmaceutical, Tongjitang Distribution, Tongjitang Chain Stores, Guizhou Long-Life Pharmaceutical Company Limited, Qinghai Pulante and Anhui Jingfang, is a vertically integrated specialty pharmaceutical company focused on the development, manufacturing, marketing and selling of modernized traditional Chinese medicine in China. Tongjitang's principal executive offices are located in Shenzhen, China.

Tongjitang's flagship product, Xianling Gubao, is the leading traditional Chinese medicine for the treatment of osteoporosis in China as measured by sales in Renminbi. In addition to Xianling Gubao, the Company manufactures and markets 36 other modernized traditional Chinese medicine products and 37 western medicines. Please visit http://www.tongjitang.com for more information.

    For more information, please contact:

    ICR, Inc.
     Ashley M. Ammon or Christine Duan
     Tel: +1-203-682-8200 (Investor Relations)

SOURCE Tongjitang Chinese Medicines Company