Tongjitang Chinese Medicines Company Announces Closing of Merger and Intent to Delist from the NYSE

Tongjitang Chinese Medicines Company TCM, announced today the completion of its acquisition by Hanmax Investment Limited, a British Virgin Islands business company, and Fosun Industrial Co., Limited, a company incorporated in Hong Kong. As a result of the acquisition, the Company became a wholly owned subsidiary of Hanmax and Fosun. Hanmax is an affiliate of Mr. Xiaochun Wang, chairman of the board of directors and chief executive officer of the Company. Under the terms of the agreement and plan of merger, which was adopted by the Company's shareholders at a special meeting held on March 31, 2011, each outstanding ordinary share of the Company was automatically converted into the right to receive $1.125 in cash, without interest and less any applicable taxes, and each American Depositary Share, or ADS, was automatically converted into the right to receive $4.50 in cash per ADS without interest and less any applicable taxes.