Aoxing Pharmaceutical Company Inc. to Ring the Closing Bell at New York Stock Exchange

NEW YORK, NY--(Marketwire - July 06, 2010) - Aoxing Pharmaceutical Company, Inc. (NYSE Amex: AXN) (“Aoxing Pharma”), a specialty pharmaceutical company focusing on research, development, manufacturing and distribution of narcotic and pain-management products, today announced that its management team and board of directors will ring the Closing Bell at the New York Stock Exchange at 4PM EDT on Thursday, July 8, 2010. The bell-ringing ceremony will be celebrating the Company’s recent listing on NYSE AMEX as well as its common stock joining the broad-market Russell 3000®, Russell 2000®, Russell Microcap® and Russell Global® Indexes. Aoxing Pharma’s common stock began trading on NYSE AMEX in April 2010 under the trading symbol “AXN.”

“The New York Stock Exchange is the world’s premier market for publicly traded companies, and we are pleased to be celebrating a series of milestones we achieved in 2010 with the honor of ringing the Closing Bell at the New York Stock Exchange,” Mr. Yue said. “We believe that the move to NYSE AMEX as well as the membership of Russell Indexes will improve the visibility of our stock, enhance trading liquidity in our shares, and provide us with greater exposure to institutional investors.”

A live webcast of The Closing Bell ceremony will be available for viewing on the homepage of NYSE’s website at www.nyse.com at 3:59PM EDT.

About Aoxing Pharmaceutical Company, Inc.

Aoxing Pharmaceutical Company, Inc. is a US incorporated specialty pharmaceutical company with its main operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the China State Food and Drug Administration (SFDA). It has a joint venture collaboration with Johnson Matthey Plc to produce and market narcotics and neurological drugs in China. It also has strategic alliance partnership with QRxPharma, Phoenix PharmaLabs, Inc. and American Oriental Bioengineering, Inc. For more information, please visit: www.aoxingpharma.com.

Safe Harbor Statement from Aoxing Pharmaceutical Company, Inc.

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other risk factors identified in the Company’s filings with the Securities and Exchange Commission, including the Form 10-K for the year ended June 30, 2009, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.