Mr. Tchaikovsky served as the Company’s Chief Financial Officer on a part-time basis since July 2009 and is presently part-time Chief Financial Officer of VLOV, Inc. (OTCBB:VLOV). Previously, Mr. Tchaikovsky was part-time Chief Financial Officer of Skystar Bio-Pharmaceutical Company (NasdaqCM:SKBI) from May 2008 to April 2010. Prior to that, he was Chief Financial Officer of Innovative Card Technologies. Mr. Tchaikovsky has also served on the Board of Directors for Skystar Bio-Pharmaceutical Company and Sino Clean Energy, Inc. (NasdaqGM:SCEI). He is a licensed Certified Public Accountant and an inactive member of the California State Bar. He received a B.A. in Business Economics from the University of California at Santa Barbara, and a J.D. from Southwestern University School of Law.Dr. Liu commented, “We greatly appreciate Mr. Tchaikovsky’s commitment, hard work and contributions during the past three years with China Jo-Jo. We look forward to continuing to work with Bennet as a member of our Board, and are confident that he will play an important role in helping the Company achieve long-term growth and delivering shareholder value.” “We also want to thank Mr. Zhu for his services as a director and wish him well on his future endeavors,” continued Dr. Liu. About China Jo-Jo Drugstores, Inc. China Jo-Jo Drugstores, Inc. primarily operates a retail pharmacy chain in China offering both western and traditional Chinese medicine, including prescription and over-the-counter drugs, sundries, alcohol, nutritional supplements and medical devices. China Jo-Jo Drugstores also provides on-site physician consulting. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People’s Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.