November 2008

Safe Harbor StatementSafe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this presentation that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand, increased competition, changes in the scope or timing of the Companys projects, slowdown in the demand for glucose series products and starch products, uncompetitive levels of research and development, failure to obtain regulatory approvals, and other information detailed from time to time in the Companys filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this presentation are made only as of this date, the recent results may not be indicative of future results, and the Company is under no obligation to revise or update these forward-looking statements.

Company OverviewMarket leader of pharmaceutical grade glucose with about 40% market share in China1 of only 3 companies licensed to produce dextrose monohydrate glucose in China

Leading glucose and cornstarch products manufacturer supplying the pharmaceutical and food and beverage industries

Rapid growth FY2008 versus FY2007, Revenues grew 76% to $90.87 Million & Net Income grew 46% to $10.41 Million

Well positioned to benefit from further expansion of Chinese pharmaceutical industry Rural health care reform is expected to enhance growth of pharmaceutical products

Major operating subsidiary in Weifang, Shandong Province The hub of chemical industry in China Second largest corn producing province in China with an expected 18.49 million metric tons of corn production in 2008, as corn is our main raw materials

What is Pharmaceutical Grade Glucose?A sugar with higher standards for purity and quality than glucose used in the food industry

The most common pharmaceutical glucose are Dextrose Monohydrate and Dextrose Anhydrous

Dextrose Monohydrate is widely used as a standard medical procedure for restorative and nutritional purposes

Dextrose solution is recommended for subcutaneous injection as a restorative medium after major operations or as a nutritive measure in debilitating diseases such as fever, cold and diarrhea etc.

Favorable Industry OutlookIn China, pharmaceutical grade glucose is widely used as part of surgical procedures and as a standard health treatment. It is supported by the Chinese Government-subsidized Medical Insurance Plan

Improving rural area healthcare is a priority of the Chinese government the Chinese government-subsidized rural healthcare system is creating greater demand for pharmaceutical products

Rising disposable net income per capita is generating greater demand for healthcare services

China has approximately 50 types of transfusion products with an estimated annual per capita consumption of around 5 bottles. Most of the consumption is for Dextrose Monohydrate

The number of medical transfusion providers in China increased from approximately 100 in 2002 to 389 in 2007. The domestic sales grew from 2 billion bottles in 2002 to 7 billion bottles in 2007

Robust Growth of Chinas Pharmaceutical IndustryExpenditure on Pharmaceutical Products per Capita in 20062007E-2011E CAGR of Expenditure on Pharmaceutical Products per CapitaChinas expenditure on pharmaceutical products per capita is still lagging behind other countries and is expected to grow fastest among other major countries in the next five yearsSource: 2006 data from the PRC National Bureau of Statistics; 2007E to 2011E projected data from Frost & SullivanThis data has not been independently verified and is subject to change

Strong Product Lines & Sales GrowthGlucoseDextrose MonohydrateDextrose AnhydrousDextrose Monohydrate OralIndustrial Glucose

Corn StarchesPharmaceutical Food & Beverage

OthersGermFibersProtein PowdersDextrinRevenue BreakdownFY04-08 CAGR 46%

Shengtai Core CompetenceMarket Leader and Preferred SupplierLargest domestic producer of pharmaceutical grade glucose in China with about 40% of market shareModern Production FacilitiesVertically integrated business modelIn-house cornstarch production facilityCapacity and productivity improvement in existing glucose facilityNew glucose facility to significantly increase production capacityHigh Product QualityGMP certified from China SFDAStrong and Loyal Customer Base 430+ customers combined domestically and internationally for glucose productsExtensive Distribution Network Coverage in all provinces not including TibetExporting to 70 countries and growing

Production ProcessCornstarchConvert EmulsionAdd inGlucoamylaseFilterDiscolorIon exchangeInspissationsCrystallization and separationClean and DryGlucose

Quality ControlFully certified for GMP, ISO9002 and HACCP international quality standardsMost products globally certified HALAL, KOSHER and IP GMOChinese EPA compliantOutput conforming to pharmaceutical glucose product specifications is maintained at 100% Stringent condition controlled warehouseAll year temperature under 86 degree F and humidity under 80%Three-Tier quality control systemWorkshop teamProduction team Management accountability

Distribution Channels and Target MarketDomestic MarketGuangzhouChengduNanchangShandongHangzhouRepresentative OfficeChinese Operation HeadquarterStrong distributionFour marketing officesCoverage in all provinces not including TibetExporting to 70 countries including developed countries such as Japan, Singapore, Korea, Australia & emerging markets such as Russia and India

Target CustomersPharmaceutical companiesMedical supply companiesFood and beverage companies

Growing Customer BaseGrowing base of over 1,000 total customers in China and abroad

High-quality pharmaceutical grade products certified for product reliability

Strong referrals from large reputable customers including Shanghe and Kelun which are the largest transfusion suppliers in China

Excellent customer service and support; On-time deliveries

Good AR collection with DSO for FY2008 at 30 days

Key Corporate Milestones

Completed new cornstarch facility2Q FY07Listed on OTCBBCompleted financing US $17.5M4Q FY07Began construction of the new glucose plant 1Q FY08Began trial production from new glucose plantJuly 08Completed new glucose facility GMP certificate received 1Q FY09 Invested for growth and reshaped business through major capital investments Accomplishments in two years2Q FY09Started operation in new glucose facility

Vertically Integrated Cornstarch ProductionProduction facility completed in October 2006 Located in Shandong province, the second largest corn producing province in ChinaStable supply of high-quality raw materials for glucoseStrategically located near its own glucose production plants which lowers transportation costMaximum annual production capacity of 240,000 tons, able to expand production up to 300,000 tons per yearAchieves economies-of-scaleAdditional revenue opportunities by selling excess cornstarchPower & Gas plant on site Lower cost and stable supply of electricity and gas to all factories including both cornstarch and glucose facilities

Glucose Production FacilitiesExtant glucose production facility:Annual production capacity 60,000 tons Capable of increasing capacity by 30,000 tons, if necessary

New glucose production facility:Construction completed at the end of July 2008 with annual production capacity of 120,000 tons of pharmaceutical glucose and other glucose products Launched trial production in July 2008GMP certification received at the end of September 2008Started operation in Oct. 2008 and expect full- scale production by calendar year end 2009

Growth StrategyTo Expand Its Leading Market Position As a Premiere Supplier of Pharmaceutical Grade Glucose and Other Refined, Starch Based ProductsIncrease volume of sales to existing customersContinue emphasis on higher-margin pharmaceutical grade productsLeveraging strong brand name and proactively pursuing new business opportunities through referralsAggressively target new high-growth overseas markets: Applying for safety certifications from regulatory agenciesBuild awareness by attending trade shows and increasing its online presenceUnlock production capacity bottleneck to lower overall costs through increases in operating efficiencies

Summary Income Statement (12 Months Ended June 30)

Balance Sheet Highlights

Strong Revenue and Net Income Growth5 Years ended June 30,Revenue GrowthFY04-08 CAGR 113%5 Years ended June 30, Net Income GrowthFY04-08 CAGR 46%

Key Management and Board Member

Mr. Qingtai Liu President and Chief Executive Officer Chief Executive Officer and President of Weifang Shengtai since 1999 Recognized by the Weifang City Government office as a Leading Technology Innovator and a Distinguished Pharmaceutical Production Director Deputy to the Peoples Conference of both Weifang City and Changle CountyFormerly head of Science and Technology of Changle Power Factory Bachelor of Electrical Engineering Degree from Shandong Technical University

Ms. Yiru Melody Shi Chief Financial Officer Former audit manager for Kabani & Co., Inc. Channel Program Manager at Sun MicrosystemsFinancial analyst at Hewlett Packard China MBA, University of California, Irvine, Certified Public Accountant (US)

Mr. Chris W. Wang Independent Director, Chairman of Audit Committee Chief Financial Officer, Fushi Copperweld (NASDAQ: FSIN)Executive VP of Redwood Capital, Inc., MBA in Finance and Corporate Accounting, University of Rochester

Equity Snapshot

Investment SummaryLeading Positions40% domestic market share of pharmaceutical grade glucoseStrong existing customer baseOne of only three companies licensed by the Chinese government to produce dextrose monohydrate glucose in China

Strategic StrengthsStrong growth opportunities in favorable marketsFocus on pharmaceutical grade glucose to take advantage of growth opportunity in Chinas healthcare market Clear long-term growth strategyVertically integrated business modelStrategic location and modern plants

Solid Track RecordConsistently maintain high product qualitySolid revenue and net income growth

Improving Financial OutlookImproving balance sheetSolid cash generationLow maintenance Cap-X

Contact Information

Shengtai Pharmaceutical, Inc.Yiru Melody Shi, CFOTel: +1 (949) 468-7078shengtaicfo@hotmail.com

Grayling GlobalEddie CheungTel: +1 (646) 284-9414echeung@hfgcg.com

Thank You!November, 2008

Check italicsCheck italicsCheck italicsClear understanding of what the company doesTop down view of One of only three licensed by the Chinese government to produce pharmaceutical grade glucose

Note: Do we have any other customers logos? Need a new picture of cornstarch facilityNote: Will add revenue growth chart here