Dragon Pharmaceutical Announces Proposed Private Offering VANCOUVER, March 30 /PRNewswire-FirstCall/ -- Dragon Pharmaceutical Inc. (TSX: DDD; OTC BB: DRUG; BBSE: DRP) announces that it proposes to offer on a best efforts basis up to $25 million of its securities in a private placement to accredited investors. The type of securities, price and completion of the proposed private placement will depend on, among other things, market conditions. It is anticipated that the proceeds from the private placement will be used to serve as the working capital to ramp up the production of the newly operated Chemical division, to improve the Company's financial structure and to fund the Company's EPO market development in Europe as well as the relocation of the Biotech facility within China. The securities proposed to be offered in the private placement will not be registered under the Securities Act or any state securities laws, and unless they are so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. About Dragon Pharmaceutical Inc. On January 12, 2005, Dragon completed the acquisition of Oriental Wave Holding Limited. As a result of the acquisition, Dragon has transformed itself into a diversified generic pharmaceutical and growth oriented company with three key business units: Chemical division for bulk pharmaceutical chemical (Clavulanic Acid and 7-ACA), Biotech division for recombinant drugs (EPO and G-CSF) and Pharma division for prescription and over-the-counter drugs. 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.dragonpharma.com/ or Renmark Financial Communications Inc. John Boidman: Sylvain Laberge: Media - Cynthia Lane: Telephone: +1-(514) 939-3989 Website: http://www.renmarkfinancial.com/ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Cautionary Statement: The Company's statements in this press release that are not historical facts, and that relate to future plans or events, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the Company's intention to raise proceeds through the proposed offering and sale of its securities. There can be no assurance that the Company will complete the proposed offering on the anticipated terms or at all. The Company's ability to complete the proposed offering will depend on, among other things, market conditions. The Company does not undertake the obligation to publicly revise these forward looking statements to reflect subsequent events or circumstances. Readers should carefully review the risk factors and other factors described in its periodic reports with the Securities and Exchange Commission. DATASOURCE: News release via Canada NewsWire, Vancouver 604-669-7764 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.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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