CHINA MILK PRODUCTS GROUP LIMITED

(Incorporated in the Cayman Islands with registration number CT-155106)

UPDATE ON EARLY REDEMPTION OF ZERO COUPON CONVERTIBLE BONDS

DUE 2012 (THE “CONVERTIBLE BONDS”) PURSUANT TO THE TERMS AND
CONDITIONS OF THE CONVERTIBLE BONDS (THE “TERMS AND
CONDITIONS”)

The Board of Directors (the “Board”) of China Milk Products Group Limited (the
“Company” or “China Milk”) refers to the Convertible Bonds issued by the Company in
January 2007. To date, the Company has received valid put exercise notices from holders of
the Convertible Bonds (the “Bondholders”) in respect of early redemption of approximately
US$146 million in principal amount of the Convertible Bonds, in accordance with the Terms
and Conditions (“Early Redemption at the Option of the Bondholders”).

The Board wishes to advise that the Company is still currently awaiting clearance from the
State Administration of Foreign Exchange (“SAFE”) of the People’s Republic of China (the
“PRC”) for the remittance out of the PRC of approximately US$170.56 million, being for the
full settlement of the Early Redemption at the Option of the Bondholders (including interest).
The Company believes the delay is administrative and procedural in nature and there is no
legal obstacle to the remittance of the same.

The Company will provide further updates via announcements, as and when appropriate, to
keep Bondholders, shareholders of the Company and the investing public appraised of any
further developments in connection with the application made to SAFE.

By order of the Board

CHINA MILK PRODUCTS GROUP LIMITED

NG JOO KHIN / CHOI HO YAN

JOINT COMPANY SECRETARIES

5 January 2010