AOBO board announces $20 million share buyback program

American Oriental Bioengineering, Inc. (NYSE: AOB), (the "Company" or "AOBO"), a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter ("OTC") products, announced at its 2010 earnings conference call, held on March 15, 2011, that its board of directors authorized a share buyback program for the repurchase of up to $20 million of the Company's outstanding common stock over the next two years.

Purchases under this program may be made, from time to time, in the open market, privately negotiated transactions, block trades, and accelerated stock repurchase transactions or otherwise, as determined by the Company and will be funded from available working capital. The number of shares to be purchased and the timing of purchases will be based on several factors, including the price of the Company's stock, general business and market conditions and other investment opportunities.  The Company believes the program should enhance shareholder value over time.    

As of March 21, 2011 the Company had 78,598,604 shares of common stock outstanding.