China Jo-Jo Drugstores, Inc. Appoints New Director and Audit Committee Chairperson

  China Jo-Jo Drugstores, Inc. Appoints New Director and Audit Committee
  Chairperson

Business Wire

HANGZHOU, China -- November 30, 2012

China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) (the “Company”), a retail and
wholesale distributor of pharmaceutical and other healthcare products in
Zhejiang and Shanghai, today announced the appointment of Ms. Zhimin Su to the
Company’s board of directors and its audit committee as its chairperson,
effective November 30, 2012. Ms. Su replaces Mr. Marc Serrio, who resigned on
the same day.

Ms. Su is a highly qualified and experienced financial professional who has
worked in the United States and China. Since December 2010, Ms. Su has been a
senior investment manager with Go Capital Limited, a private equity investment
firm in Shanghai. Ms. Su was previously a senior analyst for Caitong
Securities, a Chinese state-owned securities broker in Hangzhou. Ms. Su had
also worked at The Los Angeles Times, Inc. as a senior financial analyst. Ms.
Su holds a master’s degree in business administration from the University of
Southern California, Marshall School of Business, and is a graduate of the
Central University of Finance and Economics in Beijing with a bachelor’s
degree in economics.

"We are very pleased to welcome Ms. Su to our board of directors," said Dr.
Lei Liu, Chairman and CEO of the Company. "With her valuable experience in
corporate finance and accounting, as well as her bilingual capabilities, I am
confident that she will make contributions to bolster our financial controls
and corporate governance."

"We also want to thank Mr. Marc Serrio for his years of services as a
director, and to wish him well on his future endeavors," continued Dr. Liu.

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its subsidiaries and contractually
controlled affiliates, is a retailer and wholesale distributor of
pharmaceutical and other healthcare products in the People's Republic of
China. As of September 30, 2012, the Company had 65 retail pharmacies
throughout Zhejiang Province and Shanghai.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:

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
the progress of new product development. 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.

Contact:

China Jo-Jo Drugstores, Inc.
Frank Zhao, Chief Financial Officer
561-372-5555
Frank.zhao@jojodrugstores.com
 
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