CCBC repurchases an aggregate of 2,052,607 ordinary shares

Jul 11 2011

China Cord Blood Corporation (NYSE: CO) ("CCBC" or the "Company"), the first and largest cord blood banking operator in China, today announced that the Company repurchased an aggregate of 2,052,607 ordinary shares.  The purchases were made at an average purchase price of $3.49 per share, for a total consideration of approximately $7.2 million between September 2010 and July 2011.  The total number of shares repurchased represents approximately 47.7% of the total authorized amount under the current buyback program, which will be effective until September 30, 2011.  Approximately $7.8 million still remains available for purchases under the current buyback plan.

Ms. Ting Zheng, Chairperson and CEO of CCBC, stated, "Our operational and financial performance has demonstrated consistently strong growth.  As our operations continue to expand across various regions within China, we will continue to capitalize on the growing business opportunities in China to maintain this growth momentum.  We strongly believe that our current market valuation has yet to reflect our growth plans and intrinsic value.  Thus, the management team considers the buyback program an excellent opportunity and in the best interest of the Company and its shareholders.  Moving forward, we will continue to explore various means and initiatives to add value to the Company for our shareholders."