Update on Tu Renjing, grand prize winner of 2005 China Business Plan Competition

Beijing, China - March 23, 2006 - Tu Renjing, Executive Director of ShenZhen QianRenRen Science and Technology Co., Ltd. (QianRenRen), a company that researches and develops botanical pharmaceuticals, has had a life-long interest in marrying traditional Chinese medicine with Western pharmacology.

When Tu first learned about the 2005 Smith School China Business Plan Competition in April 2005, he immediately realized that participation would give him and his company the means to further make this dream a reality.

With extensive preparation, Tu and his team submitted their business plan and made it to the final round competition. They worked together to clearly present their business vision with a complete market analysis and an innovative marketing strategy. Tu's team and their business plan impressed the judges and they won the $25,000 grand prize.

As a result of their experience - and standing before a panel of real venture capitalist (VC) judges - Tu and his team feel they are more confident about the veracity of their business. The cash prize also substantially deepened the financial reserves of their company.

"Winning the competition has been a great way to bolster our company's image. The recognition we have gained has been invaluable,"said Tu. "Now QianRenRen is recognized by leading VCs and business leaders, and this has gone along way toward us realizing our dreams."

As the grand prize winner, Tu has a positive message for the participants of the Smith School's Second Annual China Business Plan Competition, as well as for future entrepreneurs, "With innovative ideas, careful preparation and great confidence, you can be the next winner."

In 1995, Tu got his MD degree from the medical department at the University of Zurich in Zurich, Switzerland, and much of his later professional career has been closely connected with pharmaceutical development.

Tu formerly held a number of positions within the pharmaceutical industry including positions as a senior executive of the Institute of Drug Development at the China Academy of Science and Technology Development and project manager at the China Innovation Center for Life Science at the Ministry of Science and Technology of China (in the United States). Tu also was responsible for investigating new drug submissions to the U.S. Food and Drug Administration for traditional Chinese medicine. Prior to these positions, Tu was associated with the Wuhan Institute of Biological Products at the Ministry of Health in China, the Central Veterinary Laboratory at the Ministry of Agriculture, Fishery and Food in the United Kingdom, the Royal Postgraduate Medical School of the University of London, Luxemburg's National Laboratory of Health, the Institute of Medical Virology at the University of Zurich medical department.

Tu founded ShenZhen QianRenRen Science and Technology Co., Ltd., in 1999.