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Dragon Announces Financial Results for the First Quarter of 2005

May 18, 2005

Dragon Pharmaceutical has announced the financial results for the first quarter of 2005. Revenues increased 65 percent for the first quarter of 2005 compared to the same period of the prior year reaching US$11.24 million. Chemical division revenues for the first quarter of 2005 increased over 5.5 times compared to the same period of the prior year reaching $5.70 million, surpassing the divisional revenues for the full year of 2004 ($4.25 million). Net profit reached $1.24 million or $0.02 per share. $8.45 million bank loan due in April 2005 has been renegotiated, of which $6.64 million has been renewed for two years and $1.81 million has been renewed for one year.