China Pharma Holdings, Inc., a specialty bio-pharmaceutical company that develops, manufactures and markets Western and Chinese medicines, announced that it has successfully completed the private placement of approximately 2.5 million shares of the Company's common stock at the price of $1.70 per share and 2.5 million Class A 3-year warrants to purchase an aggregate of 1.25 million shares of the Company's common stock at a strike price of $2.38 per share.

Net proceeds to the Company of approximately $3.85 million will be used for development of new drugs in pipeline and working capital to support the Company's growth. Sterne, Agee & Leach, Inc. served as the sole placement agent for the offering.

''This financing allows us to further the development of our new drugs at clinic trial stage and provides the Company with additional working capital to support the launch of several new drugs we have recently introduced into the market. This transaction benefits both our customers and shareholders, by expediting our progress of new drug development programs and strengthening our financial position,'' commented Zhi-lin Li, China Pharma's President and CEO.

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