Skystar Extends First Quarter Fiscal 2011 Earnings Date

XI'AN, CHINA--(Marketwire - May 16, 2011) - Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, pro-biotic micro-organisms and feed additives, today announced that it will file with the United States Securities and Exchange Commission, Form 12b-25 Notification of Late Filing to extend the time allowed for filing its Form 10-Q for the period ended March 31, 2011. The Company fully expects to be able to file within the additional time allowed by the Form 12b-25 due on Monday, May 23, 2011.

As a result of the Company's delay in filing its Form 10-K for Fiscal 2010; the timely preparation of the Company's financial reporting for the first quarter of 2011 had been impacted. The Company expects to file its Form 10-Q on or before Monday May 23, 2011 at the close of business. The Company will then hold a conference call the following morning after filing Form 10-Q to discuss its financial results for the period ended March 31, 2011.

Information regarding Skystar's Form 10-Q filing and fiscal year end conference call date and time will be provided in a forthcoming news release.

To be added to the Company's email distribution for future news releases, please send your request to skystar@grayling.com.

About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer and distributor of veterinary healthcare and medical care products. Skystar has four product lines (veterinary medicines, pro-biotic micro-organisms, vaccines, and feed additives) and over 220 products. Skystar has formed strategic sales distribution networks covering 29 provinces throughout China. For additional information, please visit http://www.skystarbio-pharmaceutical.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.