Dragon Receives Approval from Shareholders in Connection with the Acquisition of Oriental Wave Holding Ltd. VANCOUVER, Jan. 11 /PRNewswire-FirstCall/ -- Dragon Pharmaceutical Inc. (OTC BB: DRUG; TSX: DDD; BBSE: DRP) ("the Company") is pleased to announce that at the Annual Meeting of Shareholders held on January 11, 2005, the shareholders approved the acquisition by Dragon of Oriental Wave by accepting all the proposals in over 99% of the shares represented and voting. Over 82% of the outstanding shares were represented at the meeting. In addition, Dr. Sun and Dr. Wick were re-elected to the Board, and Moore Stephen Ellis Foster were ratified to audit the Company's financial statements for the year ended December 31, 2004. "We, at Dragon, are delighted that this acquisition of Oriental Wave on which we have worked hard for an extended period of time has been approved by an overwhelming majority of our shareholders. This demonstration of unity will provide an excellent basis to successfully face the challenges of the future," said Dr. Alexander Wick, President and CEO of Dragon. "Both the physical presence of individual Dragon shareholders and the owners of Oriental Wave at the meeting have been highly appreciated." The Company also wishes to announce that the Toronto Stock Exchange has conditionally approved the issue of shares in connection with the acquisition of Oriental Wave, subject to the filing of customary documentation. The Company and Oriental Wave expect the acquisition to close within the next couple of days. About Dragon Pharmaceutical Inc. Dragon Pharmaceutical Inc. is an international bio-pharmaceutical company headquartered in Vancouver, Canada, with a GMP production facility in Nanjing, China. Dragon's EPO has been marketed to treat anemia due to renal failure and surgery in 9 countries: China, India, Egypt, Brazil, Peru, Ecuador, the Dominican Republic, Trinidad-Tobago and Kosovo. Additional regulatory submissions are in progress throughout Central and Eastern Europe, Asia, Latin America, the Middle East and Africa and the Company is in the final preparation to enter the European Union market. About Oriental Wave Holding Limited. Oriental Wave Holding Limited is a privately held holding company of its operating subsidiary, Shanxi Weiqida Pharmaceutical Co. Ltd. The Company engages in production and sales of generic pharmaceutical and chemical products with 3 production facilities in Datong city, China. For further information please contact: Dragon Pharmaceutical Inc. Garry Wong, CFA, IMBA Telephone: +1-(604)-669-8817 or North America Toll Free: 1-877-388-3784 Email: Website: http://www.dragonbiotech.com/ or http://www.dragonpharma.com/ or Renmark Financial Communications Inc. John Boidman : Sylvain Laberge : Media - Cynthia Lane : Telephone: +1-(514) 939-3989 Website: http://www.renmarkfinancial.com/ DATASOURCE: Dragon Pharmaceuticals Inc. CONTACT: Dragon Pharmaceutical Inc., Garry Wong, CFA, IMBA, Telephone: (604) 669-8817 or North America Toll Free: 1-877-388-3784, Email: , Website: http://www.dragonbiotech.com/ or http://www.dragonpharma.com/; or Renmark Financial Communications Inc., John Boidman: , Sylvain Laberge: , Media - Cynthia Lane: , Telephone: (514) 939-3989, Website: http://www.renmarkfinancial.com/

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