Synutra Announces Receipt of Preliminary Non-Binding "Going Private" Proposal For $5.91 In Cash/Share

Synutra International, Inc.

, ("Synutra" or the "Company"), which owns subsidiaries in China that produce, distribute and sell nutritional products for infants, children and adults, today announced that its board of directors (the "Board") has received a non-binding proposal letter, dated January 14, 2016, from Mr. Liang Zhang ("Mr. Zhang"), Chairman and chief executive officer of Synutra, and an affiliated entity of his (together with Mr. Zhang, the "Buyer Group"), proposing a "going-private" transaction (the "Transaction") to acquire all of the outstanding common stock (the "Shares") of the Company not already owned by the Buyer Group for US$5.91 in cash per Share, subject to certain conditions, which represents a premium of approximately 63% to the closing price of the Company's Shares on January 13, 2016, and a premium of approximately 30% to the volume-weighted average closing price of the Company's Shares during the last 20 trading days. According to the proposal letter, the Buyer Group intends to fund the consideration payable in the Transaction with a combination of equity capital and third party debt, and rollover equity in the Company. A copy of the proposal letter is attached as Annex A to this press release. The Board intends to form a special committee consisting of independent directors to consider this proposal. The Board cautions the Company's shareholders and others considering trading in its securities that the Board just received the non-binding proposal letter from the Buyer Group and no decisions have been made with respect to the Company's response to the Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.