China Nuokang Bio-Pharma (NKBP) Forms Committee for 'Go Private' Proposal

China Nuokang Bio-Pharmaceutical Inc. (Nasdaq: NKBP) has formed an independent committee of its board of directors (the "Independent Committee") to review and evaluate the preliminary, non-binding proposal received from Mr. Baizhong Xue, chairman and chief executive officer of Nuokang, on May 10, 2012 to acquire all of the outstanding shares of the Company not currently owned, legally or beneficially, by Mr. Xue or companies controlled by Mr. Xue.

The Independent Committee is composed of the following independent directors of the Company: Mr. Sean Shao, Mr. Mingde Yu, and Mr. David Xiaoying Gao. Mr. Sean Shao has been elected as the chairman of the Independent Committee. The Independent Committee has appointed Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel to assist the evaluation of Mr. Xue's proposal and additional proposals that may be made by Mr. Xue and his affiliates, if any.

The Independent Committee is considering Mr. Xue's proposal but has not made any decisions.

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