China Medicine Corporation Held Annual General Meeting of Shareholders

Friday, May 30, 2008 General News J E 4
GUANGZHOU, China, May 29 China Medicine Corporation(OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a leadingdistributor and developer of prescription and over-the-counter pharmaceuticals,traditional Chinese medicines ("TCM"), nutritional and dietary-supplements,medical devices, and medical formulations in the People's Republic of China("PRC"), announced that it held its 2008 Annual General Meeting ofShareholders (the "AGM") on May 16th, 2008, in New York City.

At the meeting, the proposal for the election of five directors to serveuntil the AGM in 2009, as set out in the Company's definitive Proxy Statement,was approved. Specifically, the shareholders elected Mr. Senshan Yang, Ms.Minhua Liu, Mr. Robert Alder, Ms. Rachel Gong and Mr. Yanfang Chen as membersof the Board of Directors of the Company.

About China Medicine Corporation

China Medicine Corporation is a leading pharmaceutical company whichdiscovers and develops medical formulations and distributes over 2,200pharmaceutical products in China including prescription and over-the-counterdrugs, traditional Chinese medicine products, herbs and dietary supplements.The Company distributes the products to wholesale distributors in 28 provincesand to more than 300 hospitals, 500 medicine companies, and 1,788 drug storesthroughout China. The Company actively develops a number of proprietaryproducts for many uses including oncology, high blood pressure and the removalof toxins from food and animal feeds. For more information visit the Company'swebsite at .

Cautionary Statement

This press release contains forward-looking statements concerning theCompany's business and products. The Company's actual results may differmaterially depending on a number of risk factors including, but not limited to,the following: general economic and business conditions, obtaining regulatoryapproval for new products, the expected contribution of higher margin products,government support for rural health care, competition from existing and newcompetitors, changes in technology, and various other factors beyond itscontrol. All forward-looking statements are expressly qualified in theirentirety by this Cautionary Statement and the risk factors detailed in theCompany's reports filed with the Securities and Exchange Commission. ChinaMedicine Corporation undertakes no duty to revise or update any forward-looking statement to reflect events or circumstances after the date of thisrelease.For more information, please contact: Company Contact: Ms. Huizhen Yu Chief Financial Officer China Medicine Corp Tel: +86-20-8739-1718 Email: Website: Investor Relations Contact: Mr. Crocker Coulson President CCG Elite Investor Relations Tel: +1-646-213-1915 (NY Office) Email: Website:

SOURCE China Medicine Corporation


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