Welichem announces results of annual and special general meeting



    BURNABY, BC, Oct. 30 /CNW/ - Welichem Biotech Inc. (the "Company")
(TSX-V: WBI), is pleased to announce the results of the Annual and Special
General Meeting (the "AGM") of its shareholders held on October 29, 2007. The
following actions were approved:

    
    1.  Ernst & Young LLP was re-appointed as the Company's auditor;

    2.  Hugh Wynne-Edwards, York Yingping Guo, John M. Webster, Genhui Chen,
        Yeyan Zhang, John H.G. Dustan, Weihe Wang, Lijuan Pang, Fenghai Shi
        and Zhaofang Zhang were elected as directors; and

    3.  The Company's 10% rolling Stock Option Plan was re-approved by
        disinterested shareholders.

    At a meeting of the Board of Directors following the AGM, the following
    officers were re-elected:

    York Yingping Guo   -    President and Chief Executive Officer
    Hugh Wynne-Edwards  -    Chairman of the Board
    Samson Mui          -    Chief Financial Officer
    

    About Welichem Biotech Inc.

    Welichem Biotech Inc. is a publicly-traded biotechnology company
developing therapeutic drugs in the fields of autoimmune diseases and cancer.

    ON BEHALF OF THE BOARD

    York Yingping Guo
    President and Chief Executive Officer

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this news
    release. This press release contains forward-looking statements that
    include our belief as to the potential of our products. Certain risks and
    uncertainties such as our ability to successfully commercialize the
    products could cause the Company's actual results to differ materially
    from those in the forward-looking statements.

    %SEDAR: 00021386E




For further information:

For further information: York Yingping Guo, Tel.: (604) 432-1703, Email:
yorkguo@welichem.com; Yan Chen, Business Development Manager, Tel.: (604)
432-1703, E-mail: investors@welichem.com

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Welichem Biotech Inc.

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