Aoxing Pharmaceutical Company Announces CFO Resignation

Aoxing Pharmaceutical Company, Inc.

today announced that Mr. Bob Yunjun Ai has resigned as Chief Financial Officer of the Company to pursue other business interests, effective as of July 1, 2012. The Company expresses its appreciation for Mr. Ai's significant contributions to the Company and wishes him the best in his future endeavors. The Company has appointed Mr. Guoan Zhang as acting Chief Financial Officer to replace Mr. Ai. Mr. Zhang was Senior Vice President of Finance prior to the appointment. He joined the Company in 1998 and held various positions in the finance function. Mr. Zhang is a China CPA.