HARBIN, China, June 23 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (Amex: CSY) ("China Sky One Medical," "CSY"), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic kit products in China, today announced that it is set to join the broad market Russell 3000 Index and the Russell Global Index when Russell Investments reconstitutes its U.S. and global equity indexes on June 27, 2008, according to a preliminary list of additions posted June 13, 2008 on http://www.russell.com .
The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization, which represent approximately 98% of the investable U.S. equity market. The index is value-weighted and includes only common stocks of companies incorporated in the United States and its territories. The Russell Global Index represents the investable global equity market and its segments comprehensively. It consists of more than 10,000 securities in 63 countries with over 300 subindexes. The reconstitution of the Russell Indexes for 2008 will take place after the market close on June 27, 2008.
"We are very pleased to be included in the Russell 3000, Russell MicroCap and Russell Global Indexes, which will increase our visibility to the institutional community in the U.S. as we continue to grow," said Mr. Yan-qing Liu, Chairman, CEO and President of China Sky One Medical, Inc. "As a publicly traded company in the U.S., we remain committed to building a highly respected brand that will be recognized not only domestically but also internationally."
About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has more than $213 billion in assets under management as of March 31, 2008, and serves individual, institutional and advisor clients in more than 40 countries. Russell’s industry-leading indexes have $4.4 trillion in assets benchmarked to them as of Dec. 31, 2007. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
About China Sky One Medical, Inc.
China Sky One Medical, Inc., a Nevada corporation, is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic kit products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR") and Harbin First Bio-Engineering Company Limited ("First"), the Company manufactures and distributes over-the-counter pharmaceutical products as its primary revenue source. For more information, visit http://www.skyonemedical.com .
Safe Harbor Statement
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 our future plans, objectives or performance. 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.
For more information, please contact:
China Sky One Medical, Inc.
Ms. Yanwei Zhang, Board Secretary
Tel: +86-451-53994069
Email: cntiandiren@yahoo.com.cn
CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Website: http://www.ccgelite.com
