SHANDONG, China--(BUSINESS WIRE)--July 20, 2006--Shandong Missile Biologic Products Co. Ltd. (“Shandong Biologic”), announced today the closing of a reverse merger transaction with GRC Holdings, Inc. (OTCPK:GRCG) (“GRC”) and the closing of an equity placement by GRC and certain of its controlling stockholders raising $8.1 million in aggregate gross proceeds. Shandong Biologic is a biopharmaceutical company principally engaged in the research, production and manufacturing of human plasma-based pharmaceutical products in the People’s Republic of China (“China”). GRC is a publicly-held, non-operating company with headquarters in Argyle, Texas that is in the process of changing its name to China Biologic Products, Inc.
