EXHIBIT 99.3
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                              SINOVAC BIOTECH LTD.
                    ANNOUNCES COMPLETION OF THE ACQUISITON OF
                 TANGSHAN YIAN BIOLOGICAL ENGINEERING CO., LTD.


BEIJING,  January 30, 2004 - Sinovac  Biotech  Ltd.  ("Sinovac")  (NASD  OTC-BB:
SNVBF) is pleased to announce  that on January 26,  2004,  Sinovac  executed the
formal  share  purchase  agreement  (the  "Share  Purchase  Agreement")  between
Sinovac,  Tangshan Yian Biological  Engineering Co., Ltd.  ("Tangshan  Yian"), a
company  organized under the laws of the People's  Republic of China, and Mr. He
Ping Wang, the sole shareholder of Tangshan Yian and also a director of Sinovac.
The Share  Purchase  Agreement  provides  that  Sinovac will acquire 100% of the
issued and outstanding shares of Tangshan Yian in exchange for issuing 3,500,000
shares of common  stock of  Sinovac  plus  US$2,200,000  in cash,  which will be
payable by Sinovac  within 12 months  from the date of  entering  into the Share
Purchase  Agreement,  to Mr. He Ping Wang.  As of January 30,  2004,  all of the
terms and conditions of the Share Purchase Agreement have been satisfied and the
acquisition of Tangshan Yian by Sinovac is now completed.


Tangshan Yian operates in the city of Tangshan, People's Republic of China, as a
research  and   development   company   specializing   in  the  development  and
manufacturing  of various  vaccines  including flu, and vaccines for Hepatitis A
and  Hepatitis   A&B.   Tangshan  Yian  supplies  these  vaccines  to  Sinovac's
subsidiary, Sinovac Biotech Co., Ltd. The research and development operations of
Tangshan  Yian are expected to supply  increased  quantities  of new and updated
vaccines to the domestic Chinese and international markets.


For further  information  please refer to the Company's  filings with the SEC on
EDGAR or refer to Sinovac's website at http://www.sinovac.com/.


Contact: Graham Taylor at (888) 888 8312 or (604) 684-5990.


MANAGEMENT OF SINOVAC WHO TAKE FULL RESPONSIBILITY FOR ITS CONTENTS HAS PREPARED
THIS NEWS  RELEASE.  THIS NEWS  RELEASE MAY INCLUDE  FORWARD-LOOKING  STATEMENTS
WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES  SECURITIES  ACT OF 1933,
AS AMENDED,  AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF
1934, AS AMENDED,  WITH RESPECT TO ACHIEVING  CORPORATE  OBJECTIVES,  DEVELOPING
ADDITIONAL  PROJECT  INTERESTS,  SINOVAC'S  ANALYSIS  OF  OPPORTUNITIES  IN  THE
ACQUISITION  AND  DEVELOPMENT  OF VARIOUS  PROJECT  INTERESTS  AND CERTAIN OTHER
MATTERS.  THESE  STATEMENTS  ARE MADE UNDER THE "SAFE HARBOR"  PROVISIONS OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS
AND  UNCERTAINTIES  WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER  MATERIALLY  FROM
THOSE IN THE  FORWARD-LOOKING  STATEMENTS  CONTAINED  HEREIN.  THIS NEWS RELEASE
SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR
SHALL THERE BE ANY SALE OF THESE  SECURITIES IN ANY  JURISDICTION  IN WHICH SUCH
OFFER,  SOLICITATION  OR  SALE  WOULD  BE  UNLAWFUL  PRIOR  TO  REGISTRATION  OR
QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.