Tibet Pharmaceuticals Announces New CEO

Tibet Pharmaceuticals, Inc. TBET today announced that effective as of June 6, 2011 its Chairman, Mr. Hong Yu, replaces Mr. Taylor Guo as CEO of Tibet Pharmaceuticals. Taylor Guo leaves Tibet Pharmaceuticals to pursue other interests while Hong Yu, the Chairman of Tibet Pharmaceuticals and founder of its operating entity in China, takes a more active role in the Company's development initiatives and investor outreach. Taylor Guo will remain a director of the Company for the foreseeable future.