Pantheon's shareholders approved for merger with CCBS

Pantheon China Acquisition Corp. ("Pantheon") (OTCBB:PCQC) announced today that its shareholders approved its Agreement and Plan of Merger, Conversion and Share Exchange by Pantheon, China Cord Blood Services Corporation ("CCBS") at Pantheon's special meeting of stockholders on June 29, 2009.

Pantheon also announced today the closing of business combination transaction between Pantheon and CCBS which took place on June 30, 2009, and Pantheon has changed its name to China Cord Blood Corporation. China Cord Blood Corporation will continue to trade on the OTCBB under the symbol PCQC until its expected transition to a larger U.S. exchange is completed.

China Cord Blood Corporation is now the largest cord blood bank operator in China, with exclusive licenses to operate in Beijing Municipality and Guangdong Province. The company offers storage services of umbilical cord blood stem cells from newborn babies.

Ms Tina Zheng, Chairperson and Chief Executive Officer of China Cord Blood Corporation, stated, "This is an exciting and long-anticipated achievement in the development and expansion of our company. The business combination with Pantheon gives us enhanced resources to accelerate our growth in China and the Pan-Asian region as well as the listing platform that will help to facilitate our future growth strategies and further enhance China Cord Blood Corporation brand recognition in China where the government imposes a single child policy. As the leading cord blood bank services provider in China, we look forward to building our corporate profile in the U.S. capital markets while generating long-term benefits for all stakeholders."

"China Cord Blood Corporation has an outstanding business model with a proven track record of growth, long-term visibility to revenues and cash flows, and established market leadership," said Mark D. Chen, Chairman, Chief Executive Officer and President of Pantheon. "We are confident that this transaction and China Cord Blood Corporation emergence as a U.S.-listed public company provides the foundation for continuing growth, value generation and shareholder returns."

About Pantheon China Acquisition Corp.

Pantheon China Acquisition Corp. is a special purpose acquisition company formed for the purpose of acquiring, through a stock exchange, asset acquisition or other similar business combination, an operating business in the People's Republic of China. Pantheon China consummated its initial public offering on December 20, 2006 and generated aggregate gross proceeds of $34,500,000.

About China Cord Blood Corporation

China Cord Blood Corporation mainly provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. China Cord Blood Corporation received its first license in Beijing in 2003 and was the first licensed cord blood banking operator in China. It has subsequently expanded its business to Guangdong province in 2007 and achieved substantial progress thereafter. China Cord Blood Corporation is currently the largest cord blood banking operator in China in terms of geographical coverage and is the only market player with two (i.e., Beijing and Guangdong) out of six cord blood bank licenses issued by the PRC government authorities to date. Under the current PRC government regulations, only one licensed cord blood bank operator is permitted to operate in each licensed region.