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Tongjitang Chinese Medicines Company Announces Change in Independent Auditor
Monday, June 22, 2009 8:14 AM


Tongjitang Chinese Medicines Company (NYSE: TCM), a leading specialty pharmaceutical company focusing on the development, manufacture, marketing and sale of modernized traditional Chinese medicine in China, announced that effective June 16, 2009, it has changed its independent auditor for the year ending December 31, 2009 from Deloitte Touche Tohmatsu (“Deloitte”) to Ernst & Young Hua Ming. Deloitte audited Tongjitang’s financial statements for each of the previous five years. The change was approved by Tongjitang’s audit committee and full board of directors.

Tongjitang and Deloitte did not have any disagreement on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures that, if not resolved to the satisfaction of Deloitte, would have caused it to make reference to the subject matter of the disagreement in connection with its report on Tongjitang’s consolidated financial statements.

About Tongjitang Chinese Medicines Company

Tongjitang Chinese Medicines Company, through its operating subsidiaries Tongjitang Pharmaceutical, Tongjitang Distribution, Tongjitang Chain Stores, Guizhou Long-Life, Qinghai Pulante and Anhui Jingfang, is a vertically integrated and profitable 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 www.tongjitang.com for more information.

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

(Source: Business Wire )


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