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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)

NOTICE OF BOARD OF DIRECTORS’ MEETING

The board of directors (the “Board”) of New Chinese Medicine Holdings Limited (the
“Company”) hereby announces that a meeting of the Board will be held at Room 802,
Tower 1, Harbour Centre, 1 Hok Cheung Street, Hunghom, Kowloon, Hong Kong on
Wednesday, 30 January 2008 at 10:30 a.m. for the following purposes:

1. To consider and approve the unaudited quarterly results of the group, comprising the
Company and its subsidiaries, for the nine months ended 31 December 2007 and
approve the draft announcement of the quarterly results to be published on the GEM
website;

2. To consider the payment of an interim dividend, if any;

3. To consider the closure of the Register of Members, if necessary; and

4. To transact any other business.

By Order of the Board
New Chinese Medicine Holdings Limited
Law Kwok Chung
Company Secretary

Hong Kong, 15 January 2008

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At the time of this announcement, the Board comprises (i) six executive Directors, namely Mr.
Wong Chun Keung, Mr. An Jinping, Mr. Li Heguo, Mr. Chu Hon Pong, Ms. Tong Pui Chi Lucia
and Mr. Wong Mo Wah Gordon; and (ii) 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 Rules Governing the Listing of Securities on the
Growth Enterprise Market of the Stock Exchange 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.