<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>sinovacexh99_1.txt
<DESCRIPTION>SINOVAC BIOTECH LTD. 6K, PRESS RELEASE, 12.21.04
<TEXT>






EXHIBIT 99.1
------------


                              SINOVAC BIOTECH LTD.
                              --------------------
                    ENTERS INTO FINANCIAL ADVISORY AGREEMENT
                    ----------------------------------------
                    WITH CREDIT SUISSE ADVISORY PARTNERS A.G.
                    -----------------------------------------


BEIJING,  December 21, 2004 - Sinovac Biotech Ltd.  ("Sinovac")  ("the Company")
(AMEX: SVA) is pleased to announce that it has entered into a Financial Advisory
Agreement with Credit Suisse  Advisory  Partners AG, a 100%-owned  subsidiary of
Credit Suisse Group headquartered in Zurich, Switzerland,  whereby Credit Suisse
Advisory Partners will act as the Company's exclusive financial advisor.  Credit
Suisse Group is a leading global financial services company.

About Sinovac Biotech Ltd.
--------------------------

Sinovac    Biotech   Ltd.    specializes    in   the   research,    development,
commercialization,  and sales of human vaccines for infectious illnesses such as
hepatitis A and hepatitis B, influenza, "SARS", and avian flu. Sinovac is one of
the leading emerging biotechnology companies in China.

Sinovac has three  vaccines  that have  completed  all three  phases of clinical
trials - Hepatitis A, Hepatitis A&B combined, and influenza (flu). The Hepatitis
A vaccine,  Healive(TM),  is currently experiencing strong sales growth in China
and  applications  have been filed for its sale in nine other countries to date.
Sinovac's  Hepatitis A&B combined  vaccine,  Bilive(TM),  is expected to receive
approval to commence sales in China soon and to achieve  similar sales growth to
Healive(TM).  The flu vaccine completed  clinical trials in April 2004 and a New
Drug  Application  has been  filed  with the SFDA  (Chinese  FDA).  Approval  of
Sinovac's  flu vaccine is expected  in 2005 upon  completion  of the flu vaccine
production  line.  Since  demand for a safe and  effective  flu vaccine in China
greatly outstrips supply,  sales are expected to escalate rapidly.  Furthermore,
since individuals are vaccinated against the flu on an annual basis, demand will
remain high every year.

Sinovac is  currently  the only company in the world to be  conducting  clinical
trials for a vaccine to prevent SARS.  The Company is also  developing a vaccine
targeting  avian flu in  partnership  with the China  Center of Disease  Control
(CDC).

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

If you would like to receive  regular  updates on Sinovac please send your email
request to info@sinovac.com.
           ----------------

Contact:  Investor Relations at (888) 888-8312 or 1 604 684-5990 from outside of
North America or info@sinovac.com
                 ----------------




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.





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