SINOVAC BIOTECH LTD. LISTED ON HALTER USX CHINA INDEX

BEIJING , January 6, 2004 – Sinovac Biotech Ltd. ("Sinovac") (“the Company”) (AMEX: SVA) is pleased to announce that its securities has been listed on the Halter USX China Index (HXC), the only index in the world devoted exclusively to US-listed securities of companies that derive the majority of their revenues from the People’s Republic of China. Sinovac joins many of ’s largest and most respected companies on this prestigious index.

In addition, the Company has received queries about the recent fluctuation of its shares price.  Sinovac management is unaware of any material change in the affairs of the Company which would account for the recent price fluctuation. Management believes that recent price fluctuations are generally market-related and not related to corporate or business matters of the Company.

About the Halter USX Index

The Index, created by the Halter Financial Group and calculated and distributed by the Amex, is comprised of companies whose common stock is publicly traded in the and the majority of whose business is conducted within the People's Republic of . The Halter USX China Index was created in response to the unique economic opportunities taking place in , as well as the current dynamics in the capital markets. While there is strong demand for Chinese equity, investors still seek and prefer the transparency offered with a listing. For a company to be included in the Halter USX China Index it must conduct a majority of its business in China, maintain an average market cap of over $50 million for the preceding 40 trading days, trade on the NYSE, Amex or NASDAQ and be approved by USX Selection Committee. Investors can buy the Index by investing in an exchange traded fund (ETF), the PowerShares Golden Dragon Halter USX China Portfolio (PEAK, Trade). For more information please visit www.usxchinaindex.com. The following public companies currently comprise the Halter USX China Index:

About Sinovac Biotech Ltd.

Sinovac Biotech Ltd. specializes in the research, development, commercialization, and sales of human vaccines for infectious illnesses such as hepatitis A and hepatitis B, influenza, “SARS”, and avian flu. Sinovac is one of the leading emerging biotechnology companies in

Sinovac has three vaccines that have completed all three phases of clinical trials – Hepatitis A, Hepatitis A&B combined, and influenza (flu). The Hepatitis A vaccine, Healive™, is currently experiencing strong sales growth in and applications have been filed for its sale in nine other countries to date. Sinovac’s Hepatitis A&B combined vaccine, Bilive™, is expected to receive approval to commence sales in soon and to achieve similar sales growth to Healive™. The flu vaccine completed clinical trials in April 2004 and a New Drug Application has been filed with the SFDA (Chinese FDA). Approval of Sinovac’s flu vaccine is expected in 2005 upon completion of the flu vaccine production line. Since demand for a safe and effective flu vaccine in greatly outstrips supply, sales are expected to escalate rapidly. Furthermore, since individuals are vaccinated against the flu on an annual basis, demand will remain high every year.