Singapore, May 05, 2010: China Medicine Corporation, a manufacturer, distributor and developer of pharmaceuticals, traditional Chinese medicines (TCMs), and nutraceuticals, appointed Mr Fred Wai-Kuen Cheung as its Chief Financial Officer.

Mr Cheung brings over 18 years of professional expertise in auditing, financial and general management through his experience working with an auditing firm, a multi-national corporation, a private equity fund, and public and private companies based in Asia.

Prior to joining China Medicine, Mr Cheung was an investment manager at CLSA Capital Partners (HK). Previously, Mr Cheung was the financial controller for Podium Development in Hong Kong and China. Mr Cheung also worked at VTech Holdings for more than four years, holding various senior positions. Mr Cheung was the accounting manager for DuPont China stationed in Shenzhen, China for over three years. Mr. Cheung began his career at Deloitte Touche Tohmatsu focusing on auditing for over three years.

The company also announced that its board of directors has nominated three new directors to stand for election at its annual meeting of stockholders on May 27, 2010. They are Mr Daniel Shih, currently the Chief Strategy Officer and the Head of the retail business unit of Stella International Holdings; Mr. Sean Shao, an accounting and financial management professional with extensive experience within the biopharmaceutical industry; and Mr Ian Robinson, a chartered accountant with over 45 years of experience, including serving as a Senior Partner of the Hong Kong office of Ernst & Young.