Audit Committee - Terms of Reference Jan 2009

China Bio-Med Regeneration Technology Limited (formerly known as B M Intelligence International Limited (incorporated in the Cayman Islands with limited liability) AUDIT COMMITTEE TERMS OF REFERENCE Latest Version: Updated on 30 January 2009 * For identification purposes only - 1 - China Bio-Med Regeneration Technology Limited (formerly known as B M Intelligence International Limited AUDIT COMMITTEE TERMS OF REFERENCE TABLE OF CONTENTS Page 1. CONSTITUTION 3 2. MEMBERSHIP 3 3. MEETINGS 4 4. ATTENDANCE AT MEETINGS 5 5. FREQUENCY OF MEETINGS 5 6. AUTHORITY 6 7. DUTIES & RESPONSIBILITIES 6 REVIEW OF THE FINANCIAL INFORMATION OF THE COMPANY 7 RELATIONSHIP WITH THE COMPANY’S AUDITORS 9 RELATIONSHIP WITH THE COMPANY’S EMPLOYEES 9 8. REPORTING PROCEDURES 10 * For identification purposes only - 2 - China Bio-Med Regeneration Technology Limited (formerly known as B M Intelligence International Limited Audit Committee Terms of Reference 1. CONSTITUTION 1.1 The Audit Committee was formed pursuant to the board resolution of the Company passed on 4 July 2001. 1.2 Revised on 1 July 2005 pursuant to the Code on Corporate Governance Practices effective on 1 January 2005. 1.3 The revised version shall supercede any terms of reference previously adopted by the Board of Directors. ...