/ CORRECTION - China YCT International, Inc. NEW YORK, NY--(MARKET WIRE)--Jan 8, 2009 -- In the news release, "China YCT International
(CYIG) Announces Its Subsidiary Has Been Selected as one
of the Top 10
Enterprises in Bioengineering in the Shandong Province,"
issued Thursday,
January 08, 2009, by China YCT International, Inc. (OTC BB:CYIG.OB - News), we are
advised by the company that the first sentence of the fifth
paragraph
should read "Established in 2005, China YCT International
Group, Inc.,
through its operating subsidiary, Shandong Spring Pharmaceutical
Co. Ltd.
('Shandong Spring Pharmaceutical'), a corporation organized
under the laws
of the People's Republic of China, is a high-tech enterprise,
which applies
modern biological technology and integrates research &
development,
production and sales of ginkgo healthcare products, ginkgo
cosmetics,
daily-use chemical products, ginkgo glycoside products and
biological
medicines," rather than "Established in 1998, China YCT
International
Group, Inc., through its operating subsidiary, Shandong
Yongchuntang
Biology Technology Co. Ltd. ('Shandong YCT'), a corporation
organized under
the laws of the People's Republic of China, is a high-tech
enterprise,
which applies modern biological technology and integrates
research &
development, production and sales of ginkgo healthcare products,
ginkgo
cosmetics, daily-use chemical products, ginkgo glycoside
products and
biological medicines," as originally issued. Complete corrected
text
follows. China YCT International (CYIG) Announces Its Subsidiary Has Been Selected as one of the Top 10 Enterprises in Bioengineering in the Shandong Province NEW YORK, NY -- January 08, 2009 -- China YCT International Group Inc. (OTC BB:CYIG.OB - News) today announced that its wholly owned subsidiary, Shandong Spring Pharmaceutical Co., Ltd, has been selected as one of the top 10 biotechnology enterprises of Jining City, Shandong province. The Company announced that it has been awarded the honor of "Jining Civic Top 10 Enterprises" in the high-tech bioengineering sector. Companies were judged on their sales revenue in the most recent year, production scale and capacity, actual output, and tax contribution. In addition, other selection factors included annual R&D expenses and the educational level of R&D staff. "The award which was conferred by the Jining Civic council entitles the Company to access various favorable local government's development policies and tax holiday treatments. Jining local government proclaimed that in addition to certain tax holiday treatments, every honor-awarded enterprise is authorized for a prize of more than 100,000 RMB or approximately $14,705 USD from the Jining local government," stated Mr. Tinghe Yan, President of China YCT International. According to the "New Corporation Tax Law," and "Shandong Provincial Stimulus on Improving local High-tech Companies," as a company in the high-biotech industry, the Company also has been granted the right to enjoy a preferential tax rate of 15% which is 10% lower than the tax rate that applies on most of other companies. About China YCT International Established in 2005, China YCT International Group, Inc., through its operating subsidiary, Shandong Spring Pharmaceutical Co. Ltd. ('Shandong Spring Pharmaceutical'), a corporation organized under the laws of the People's Republic of China, is a high-tech enterprise, which applies modern biological technology and integrates research & development, production and sales of ginkgo healthcare products, ginkgo cosmetics, daily-use chemical products, ginkgo glycoside products and biological medicines. All of Shandong YCT's businesses are currently in China. Contact: For more information, please contact:
Peter D. Zhou
Tel: +1-212-232-0120
Source: China YCT International, Inc.
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