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Sinovac Announces Closing of Common Share Offering

Wednesday, February 3, 2010 General News
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BEIJING, Feb. 2 Sinovac Biotech Ltd. (Nasdaq: SVA)("Sinovac" or the "Company"), a leading China-based vaccine manufacturer,announced today that its previously announced public common share offering wasclosed on February 2, 2010. Sinovac received net proceeds of approximately$62.0 million, after deducting underwriting discounts and commissions andestimated offering expenses payable by the Company, which included netproceeds from the sale of 1,500,000 common shares pursuant to the fullexercise of the underwriters' over-allotment option.
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UBS Securities LLC and Piper Jaffray & Co. served as joint bookrunners forthe offering.

The offering was made under Sinovac's currently effective shelfregistration statements on Form F-3 filed with the Securities and ExchangeCommission on November 18, 2009 and January 27, 2010. This press release doesnot constitute an offer to sell, or the solicitation of an offer to buy,securities, and does not constitute an offer, solicitation or sale in anyjurisdiction in which such offer, solicitation or sale would be unlawful.
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Copies of the prospectus supplement and the accompanying prospectusrelating to this offering may be obtained from UBS Securities LLC, Attention:Prospectus Department, 299 Park Avenue, New York, NY 10171, U.S.A., telephone:888-827-7275, or Piper Jaffray & Co., Attention: Equity Capital Markets, 800Nicollet Mall, Suite 800, Minneapolis MN 55402, U.S.A., telephone:1-800-754-4781.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical company thatfocuses on the research, development, manufacture and commercialization ofvaccines that protect against infectious diseases. Sinovac's vaccine productsinclude Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), andAnflu(R) (influenza). Panflu(R) and Panflu.1(TM), Sinovac's pandemic influenzavaccine (H5N1) and H1N1 vaccine, have already been approved for governmentstockpiling. Sinovac is developing vaccines for a number of differentinfectious diseases including enterovirus 71, pneumococcal disease, Japaneseencephalitis, haemophilus influenzae type b (Hib), meningitis, rabies,chickenpox, mumps and rubella. Sinovac is also conducting field trials forindependently developed inactivated animal rabies vaccine.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaningof the safe harbor provisions of the Private Securities Litigation Reform Actof 1995. All statements other than statements of historical fact in thisannouncement are forward-looking statements. These forward-looking statementsinvolve known and unknown risks and uncertainties and are based on currentexpectations, assumptions, estimates and projections about the Company and theindustry in which the Company operates. The Company undertakes no obligationto update forward-looking statements to reflect subsequent occurring events orcircumstances, or to changes in its expectations, except as may be required bylaw.For further information, please contact: Sinovac Biotech Ltd. Helen G. Yang Tel: +86-10-8289-0088 x9871 Fax: +86-10-6296-6910 Email: [email protected] Investors: The Ruth Group Amy Glynn/Stephanie Carrington Tel: +1-646-536-7023/7017 Email: [email protected] [email protected] Media: The Ruth Group Janine McCargo Tel: +1-646-536-7033 Email: [email protected]

SOURCE Sinovac Biotech Ltd.
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