3SBio Inc (SSRX)

[surf1944]

3SBio Inc. Announces Appointment of Ernst & Young Hua Ming as Independent Auditor
On Tuesday May 5, 2009, 7:52 am EDT

SHENYANG, China, May 5 /PRNewswire-Asia-FirstCall/ -- 3SBio Inc. (Nasdaq: SSRX - News; "3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced the appointment of Ernst & Young Hua Ming ("Ernst & Young") as the Company's independent registered public accounting firm.

Ernst & Young replaces KPMG, previously the independent auditor for 3SBio. Ernst & Young has begun providing services effective immediately and is working with 3SBio and KPMG to ensure a seamless transition. The dismissal of KPMG and the appointment of Ernst & Young have been approved by the Audit Committee, with the concurrence of the Board of Directors of the Company.

The audit reports of KPMG on the effectiveness of internal control over financial reporting of 3SBio and its subsidiaries as of December 31, 2008, and the consolidated financial statements of 3SBio and subsidiaries as of and for the years ended December 31, 2007 and 2008 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.