08:53 GOLDEN MEDITECH<08180> - Unusual volume movement The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Golden Meditech Company Limited (Incorporated in the Cayman Islands with limited liability) (Stock Code: 8180) ANNOUNCEMENT This announcement is made at the request of The Stock Exchange of Hong Kong Limited. The directors (the `Directors') of the Golden Meditech Company Limited (the `Company') have noted the recent increase in trading volume of the shares of the Company and wish to state that the Company was informed by a convertible bondholder (the `Bondholder') that the Bondholder has exercised the conversion rights attaching to the HK$226.4 million convertible bond (the `Convertible Bond'), issued by the Company on 6 September 2004. On 6 and 7 December 2004, the Bondholder exercised the conversion rights in relation to the amounts of HK$20,000,000 and HK$80,000,000 of the Convertible Bond at the convertible price of HK$1.90 respectively and the Bondholder had subsequently disposed of 7.8 million shares and 23 million shares of the Company at HK$1.85 and HK$1.85 per share in the market on 6 and 7 December 2004 respectively. According to the shareholders register of the Company, as at 6 December 2004, prior to the exercise of the conversion rights attaching to the Convertible Bond and other than the Convertible Bond in the aggregate principal amount of HK$126.4 million held by the Bondholder, the Bondholder did not hold any shareholding interest in the Company. After the conversions on 6 and 7 December 2004, according to the register of the Company, the Bondholder held the Convertible Bond in the aggregate principal amount of HK$26.4 million. In addition, the Company was also informed that Bio Garden Inc. (`Bio Garden'), the substantial shareholder of the Company, has increased its interest in the Company to 428,320,000 shares of HK$0.10 each of the Company (`Shares') by acquiring additional 10,000,000 Shares from the market at the average share price of HK$1.94 today (`Acquisition'). As the result of the Acquisition, Bio Garden's interest in the Company has increased from 33.5% to 34.3%. Bio Garden has confirmed to the Company that in the past 12 months prior to the Acquisition, it did not acquire shares of the Company which had the effect of increasing its shareholding in the Company by more than 2% from the lowest percentage holding in such 12 month period. Save as disclosed above, the Directors are not aware of any other reasons for the increase in trading volume. We confirm that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Chapters 19 and 20 of the GEM Listing Rules, neither is the board of Directors (the `Board') aware of any matter discloseable under the general obligation imposed by rule 17.10 of the GEM Listing Rules, which is or may be of a price-sensitive nature. Made by the order of the Board, the Directors of which collectively and individually accept responsibility for the accuracy of this announcement. By Order of the Board Golden Meditech Company Limited Kam Yuen Chairman Hong Kong, 7 December 2004 As at the date of this announcement, the Board is composed of 7 Directors. The executive Directors are Kam Yuen (Chairman), Lu Tian Long, Zheng Ting and Jin Lu and the independent non-executive Directors are Gu Qiao, Gao Zong Ze and Cao Gang. This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (a) the information contained in this announcement is accurate and complete in all material respects and not misleading; (b) there are no other matters the omission of which would make any statement in this announcement misleading: (c) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable. This announcement will remain on the GEM website at http://www.hkgem.com on the Latest Company Announcements' page for at least seven days from the date of its posting and on the Company's website at www.gm8180.com.