American Oriental Bioengineering Announces Approval for Listing on New York Stock Exchange

NEW YORK, Nov. 28 /PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc., (Amex: AOB; NYSE Arca: AOB), a leading manufacturer and distributor of plant-based pharmaceutical and nutraceutical products in China, announced today it has received approval for listing on the New York Stock Exchange (NYSE). The Company anticipates its shares of common stock will begin trading on the NYSE on December 18, 2006. Until that time, the Company's shares will continue to trade on the American Stock Exchange and the NYSE Arca exchange under the symbol "AOB".

"We are proud to be among a very select group of China-based companies to list on the NYSE, as well as the first China-based pharmaceutical and nutraceutical company to list on the NYSE, and we expect this event to raise our visibility in the global financial markets. By transferring to one consolidated trading platform at the NYSE, we believe we can achieve greater price efficiency which will ultimately more accurately reflect shareholder value," said Tony Liu, Chairman and CEO of AOB. "We thank our partners at the American Stock Exchange and the NYSE Arca for the important role they played in our evolution. We are excited to move forward with this new chapter in our Company's history."

AOB's products are distributed throughout all 28 provinces in China. The market for pharmaceutical products in China is expected to be the world's largest by 2020, and is currently estimated at $50 billion. The Company listed on the American Stock Exchange in July 2005 and on the NYSE Arca in November 2005. Today, AOB has a market capitalization of over $600 million and net cash per share of $0.97 as of September 30, 2006. AOB reported third quarter 2006 revenue growth of 102% to $27.0 million and net income growth of 104% to $7.6 million versus the prior year's quarter.

"AOB provides many of the leading pharmaceutical and nutraceutical products in China, and is a known brand in one of the world's largest healthcare markets," said John A. Thain, CEO of NYSE Group, Inc. "On behalf of the NYSE Group, I am very pleased to extend our relationship with AOB as the company enters the next stage of growth and look forward to providing the highest levels of market quality to the company and its shareholders."

About American Oriental Bioengineering Inc.

American Oriental Bioengineering Inc. (AOB) is engaged in the development and production of plant-based pharmaceutical products and plant-based nutraceutical products widely distributed throughout China. For more information, visit http://www.bioaobo.com/.

About NYSE Group, Inc.

NYSE Group, Inc. operates two securities exchanges: the New York Stock Exchange (the "NYSE") and NYSE Arca, Inc. (formerly known as the Archipelago Exchange, or ArcaEx(R), and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. In the third quarter of 2006, on an average trading day, 2.2 billion shares, valued at $80.1 billion, were traded on the exchanges of the NYSE Group.

The NYSE is the world's largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies' common stock and other securities. On September 30, 2006, the operating companies listed on the NYSE represented a total global market capitalization of $23.1 trillion.

NYSE Arca operates NYSE Arca, Inc., the first open, all-electronic stock exchange in the United States, and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca, Inc. is also an exchange for trading equity options. NYSE Arca's trading platforms provide customers with fast electronic execution and open, direct and anonymous market access.

NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.