Genesis Pharmaceuticals Announces New Board Member and Forms Committees

LAIYANG, China, July 23 /Xinhua-PRNewswire-FirstCall/ -- Genesis
Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GTEC) ("Genesis" or the
"Company"), a leading pharmaceutical company in the People's Republic of
China,
held a Board of Directors meeting on July 18, 2008 at which a new Board member
was appointed to serve on the Board of Directors of the Company, and an Audit
Committee and a Compensation Committee were formed.
Mr. Michael Marks was appointed to the Company's Board of Directors on
July 18, 2008. Since 2007, he has served as an independent director of China
Housing & Land Development, Inc., a property developer in China. In 2006, Mr.
Marks became President of Middle Kingdom Alliance Corp., a publicly traded
Special Purpose Acquisition Corporation active in China. In 2003, Mr. Marks
founded the China practice of Sonnenblick Goldman, a real estate investment
bank, and served as its Managing Director in China until 2007. In 2001, he
founded B2Globe, providing technology solutions to international internet
businesses in Asia. In 1999, he co-founded Metro Corporate Training in
Shanghai to offer training and management development, and was its Chief
Executive Officer until 2001. During his nine-year tenure in China, Mr. Marks
has had a role as advisor, banker or principal in over $2 billion of
transactions. From 1998 to 1999, Mr. Marks worked as a management consultant
with Horwath Asia Pacific in Australia and China. From 1995 to 1998, Mr.
Marks worked in the audit, corporate finance and advisory divisions of
PricewaterhouseCoopers in South Africa. Mr. Marks received a Bachelor of
Commerce (Honors) in 1994 and Masters of Commerce in 1997 from the University
of the Witwatersrand in Johannesburg, South Africa. In 1998, he graduated with
a Bachelor of Arts (Psychology) degree from the University of South Africa. In
1997, Mr. Marks became a Chartered Accountant in South Africa, and a Fellow of
the Association of International Accountants in the United Kingdom in 1999. He
speaks fluent Mandarin, French and English.
The Board of Directors accepted the resignations of Mr. Zhang Yihua and
Mr.
Rodrigo Arboleda. The resignations of Mr. Zhang and Mr. Arboleda from the
Company's Board of Directors were not the result of any disagreements with the
Company on any matter relating to the Company's operations, policies or
practices.
"I look forward to working with Genesis," stated Michael Marks. "Having
participated in the growth of a number of companies in China, I know that
Genesis is a company with a tremendous future. I am excited to be a part of
its development."
The Board of Directors authorized and approved creation of an Audit
Committee that will oversee matters relating to the Company's financial
reporting. Qualifying as an "audit committee financial expert" in compliance
with applicable SEC and current stock exchange rules and regulations, Michael
Marks was appointed as the Chairman of the Audit Committee. Each member of the
Audit Committee is "independent" as defined in Section 10A of the Securities
Exchange Act of 1934.
The Board of Directors also authorized and approved creation of a
Compensation Committee that will, among other things, make recommendations to
the Board of Directors concerning salaries and incentive compensation for the
Company's officers. Feng Xiaowei was appointed as the Chairman of the
Compensation Committee. Each member of the Compensation Committee is
"independent" as defined in Section 10A of the Securities Exchange Act of
1934.
"We are pleased to welcome Michael Marks to serve as a member of our Board
of Directors. We believe that he will make an immediate and valuable
contribution to the work of our Board," said Mr. Cao Wubo, Chairman and CEO of
Genesis Pharmaceuticals Enterprises. "At its last meeting, our Board of
Directors created an Audit Committee and Compensation Committee composed of
independent Board members. We believe that the establishment of these
committees will help to assure investors that Genesis is fully committed to
the highest possible standards of corporate governance."
About Genesis Pharmaceuticals Enterprises, Inc.
Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged
in the research, development, production, marketing and sales of
pharmaceutical products in the People's Republic of China. Its operations are
located in Northeast China in an Economic Development Zone in Laiyang City,
Shandong province. Genesis is a major pharmaceutical company in China
producing tablets, capsules, and granules for both western and Chinese herbal-
based medical drugs.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are not guarantees of future
performance and are subject to risks and uncertainties that could cause the
Company's actual results and financial position to differ materially from
those included within the forward-looking statements. Forward-looking
statements involve risks and uncertainties, including those relating to the
Company's ability to introduce, manufacture and distribute new drugs. Actual
results may differ materially from anticipated or predicted results, and
reported results should not be considered as an indication of future
performance. The potential risks and uncertainties include, among others, the
Company's ability to obtain raw materials needed in manufacturing, the
continuing employment of key employees, the failure risks inherent in testing
any new drug, the possibility that regulatory approvals may be delayed or
become unavailable, patent or licensing concerns that may include litigation,
direct competition from other manufacturers and product obsolescence. More
information about the potential factors that could affect the Company's
business and financial results is included in the Company's filings, available
via the United States Securities and Exchange Commission.
For more information, please contact:

Genesis Pharmaceuticals Enterprises, Inc.
Ms. Elsa Sung, CFO
Tel: +1-954-727-8436
Email: genesispharm@gmail.com
Web: http://www.genesis-china.net

CCG Investor Relations, Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgir.com

SOURCE Genesis Pharmaceuticals Enterprises, Inc.

Ms. Elsa Sung, CFO of Genesis Pharmaceuticals Enterprises, Inc.,
+1-954-727-8436, or genesispharm@gmail.com; Mr. Crocker Coulson, President of
CCG Elite Investor Relations, Inc., +1-646-213-1915, or
crocker.coulson@ccgir.com