Skystar Bio-pharmaceutical Co. (fka SKBI)

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NASDAQ Panel Grants Skystar's Request for Continued Listing on NASDAQ Stock Market

Skystar Must Provide Evidence That It Has Held Its 2011 AGM by April 28, 2012
MarketwirePress Release: Skystar Bio-Pharmaceutical – Tue, Mar 27, 2012 8:30 AM EDT

XI'AN, CHINA--(Marketwire -03/27/12)- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI - News) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that on March 26, 2012 it received a letter from the NASDAQ Listing Qualifications Panel ("the Panel") informing the Company that the Panel has determined to grant the request of Skystar to remain listed on The NASDAQ Stock Market ("NASDAQ"), subject to the condition that by April 28, 2012, Skystar provides evidence that it has held its 2011 annual shareholder meeting. In the event the Company is unable to hold such meeting or hold the meeting within the said timeframe, its securities may be delisted from NASDAQ, in which event the Company would seek to cause them be quoted in over the counter markets, which may result in a substantially less liquid market for the securities.

As previously disclosed, the Panel's decision follows a hearing held on March 1, 2012 at which time the Panel was presented with the Company's plan to regain compliance with NASDAQ's Listing Rule 5620(a) and (b) relating to the time frame of and proxy solicitation in connection with annual shareholder meetings.

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About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer and distributor of veterinary healthcare and medical care products. Skystar has four product lines (veterinary medicines, micro-organisms, vaccines and feed additives) and over 284 products. Skystar has formed strategic sales distribution networks covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.