New Directors Appointed

News

The Company is pleased to announce that Mr. Philip Yuen Pak Yiu and Dr. Yiu Kwong Sun have been appointed to the Board of Directors.

Mr. Yuen has been a legal practitioner in Hong Kong since graduating from law school in London, England in 1961. In 1965, he established the law firm Yung, Yu, Yuen and Co. and is now the principal partner of the firm. Mr. Yuen has over 30 years experience in the legal field and has been a director of several large listed companies in various sectors. He is a director of the Association of China-appointed Attesting Officers Limited in Hong Kong, a standing committee member of the Chinese General Chamber of Commerce of Hong Kong, a member of the National Committee of the Chinese People Political Consultative Conference and an arbitrator of the China International Economic and Trade Arbitration Commission.

Dr. Sun graduated from the University of Hong Kong Faculty of Medicine in 1967. He is a Founding Fellow of the Hong Kong College of Family Physicians and a Fellow of the Hong Kong Academy of Medicine. He is the Chairman of the Dr. Sun Medical Centre Limited which has been operating a network of medical centres in Hong Kong and China for the past 20 years. He is also the Administration Partner of United Medical Practice, which manages a large network of medical facilities throughout Hong Kong and Macau. Dr. Sun has been a member of the Dr. Cheng Yu Fellowship Committee of Management of the University of Hong Kong Faculty of Medicine since 1997.

The Company also wishes to announce that Mr. Shaun Maskerine has resigned as a Director of the Company to allow for the appointment of new directors. The Board wishes to thank Mr. Maskerine for his contributions to the management of the Company since its inception. Mr. Maskerine will continue to act as Corporate Secretary and Treasurer. The Company is very pleased to have Mr. Yuen and Dr. Sun on its Board of Directors. Each brings valuable experience and expertise encompassing both the medical and legal fields and Asian markets.

Further to the news release dated November 10, 1999 the Company is pleased to announce that preparations for commercial production with its high yield EPO cell line are proceeding on schedule. The Company will host a visit to its Nanjing production plant for a number of fund managers, analysts, and newsletter writers at the end of November.