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NEW CHINESE MEDICINE HOLDINGS LIMITED

新 醫 藥 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8085 / Warrant Code: 8359)

CLARIFICATIN ANNOUNCEMENT

Reference is made to the announcement of “Change of Executive Directors, Non-executive
Director, Chairman, Vice Chairman, Chief Executive Officer, Compliance Officer and
Authorized Representative” of the Company dated 21 January 2008.

The Directors would like to clarify and further elaborate that Mr. Wong Chun Keung
resigned as Chairman and Executive Director of the Company to pursue his own business
and Mr. Wong Mo Wah Gordon resigned as Chief Executive Officer, Executive Director,
Compliance Officer and Authorized Representative of the Company for concentration on his
other business affairs.

By Order of the Board
New Chinese Medicine Holdings Limited
Law Kwok Chung
Executive Director

Hong Kong, 22 January 2008

As at the date of this announcement, the Board comprises (i) seven Executive Directors, namely Mr.
Liu Jing, Mr. Chu Hon Pong, Mr. Li Heguo, Mr. An Jinping, Mr. Li Junhong, Ms. Tong Pui Chi
Lucia and Mr. Law Kwok Chung; (ii) one Non-executive Director, namely Dr. Neil Kai Gu and (iii)
three Independent Non-executive Directors, namely Mr. Chu Kar Wing, Dr. Loke Hoi Lam and Mr.
Ku Ling Yu John.

This announcement, for which the Directors collectively and individually accept full responsibility,
includes particulars given in compliance with the GEM Listing Rules for the purpose of giving
information with regard to the Company. The Directors, having made all reasonable enquiries,
confirm that, to the best of their knowledge and belief: (1) the information contained in this
announcement is accurate and complete in all material respects and not misleading; (2) there are no
other matters the omission of which would make any statement in this announcement misleading; and
(3) all opinions expressed in this announcement have been arrived at after due and careful
consideration and are founded on bases and assumptions that are fair and reasonable.

This announcement will remain on the “Latest Company Announcements” page of the GEM website
for at least seven days from the date of its posting.