Remedent, Inc. Announces Restructuring of Its OTC Division

  
    
  
  
    
      Remedent, Inc. (OTCBB:REMI), an international company 
      specializing in the research, development, manufacturing of oral care 
      and cosmetic dentistry products, announced today that it has 
      restructured its OTC division, consistent with its strategic plan to 
      separate the OTC division from the Professional/veneer business and the 
      organization as a whole.
    
    
      This restructuring will provide both additional cash to Remedent as well 
      as the elimination of all current and future overhead of the OTC 
      division. The restructuring involved a sale of approximately half the 
      interest of the OTC division led by Mr. Robin List, the Company’s former 
      Chief Executive Officer and director to Mr. List and Concordia Fund BV, 
      a non affiliated foreign investment firm. The assets, liabilities and 
      income/expense of the OTC division will ultimately be held by a Dutch 
      holding company, namely Remedent BV (hereinafter referred to as BV), 
      that will be led by Mr. List with current Remedent directors maintaining 
      Board control of this BV.
    
    
      The BV will be responsible for all operating overhead expenses on a go 
      forward basis as well as future financing and growth of the OTC 
      division. Remedent, Inc plans on consolidating both divisions in its 
      financial statements based on its percentage of ownership after the sale 
      as well as its Board control over the BV subsidiary. Concordia Fund-BV, 
      will provide financing and stewardship for the ongoing operations of the 
      BV group. Concordia Fund-BV has agreed to invest working capital of one 
      million Euro into the BV to strengthen its financial resources that will 
      be reflected in our consolidated balance sheet.
    
    
      Mr. Guy De Vreese, Chairman of Remedent, Inc stated, "This restructuring 
      will give us the best of both worlds. We can now aggressively pursue our 
      Professional/veneer business both with Den-Mat principally in the USA 
      and by ourselves in promising growth territories such as China, 
      Australia and Western Europe. At the same time, Remedent also gets to 
      share in the upside of the OTC business without the financial 
      responsibility."
    
    
      In connection with this sale, Mr. List resigned as director and CEO of 
      Remedent, Inc. enabling him to focus on the management of the OTC 
      business, namely OTC BV and its subsidiaries. Mr. De Vreese, the current 
      Chairman and leader of the Professional division, will lead the Company 
      as CEO. In connection with the sale, Mr. List also returned the shares 
      he currently owns in Remedent back to the Company that will result in a 
      4% reduction in the number of outstanding shares of Remedent.
    
    
      Mr. De Vreese will be leading a conference call to discuss in more 
      detail the above referenced transaction. The call will be held on 
      December 17, 2008 at 9:00 am EST. To access the call, dial 877-407-8037 
      (domestic) and 201-689-8037 (internationally) about 5-10 minutes prior 
      to 9:00 AM EST. The conference call will also be available on replay 
      starting at 12:00 noon EST on December 17, 2008, and ending on January 
      17, 2009. For the replay, U.S. participants please dial [phone] 
      (replay account # 313, replay conference # 307225). The access number 
      for the replay for callers outside the U.S. is [phone] (replay 
      account # 313, replay conference # 307225).
    
    
      About Remedent, Inc.
    
    
      Remedent, Inc., a publicly-traded company on the OTCBB, 
      specializes in the research, development, manufacturing and marketing of 
      oral care and cosmetic dentistry products. With offices in California, 
      Belgium and Singapore, Remedent distributes its products in more than 35 
      countries.
    
    
      Forward-looking Statement
    
    
      Statements in this press release that are not statements of historical 
      or current fact constitute "forward looking statements." Such 
      forward-looking statements involve known and unknown risks, 
      uncertainties and other unknown factors that could cause the Company's 
      actual operating results to be materially different from any historical 
      results or from any future results expressed or implied by such 
      forward-looking statements. In addition to statements that explicitly 
      describe these risks and uncertainties, readers are urged to consider 
      statements that contain terms such as "believes," "belief," "expects," 
      "expect," "intends," "intend," "anticipate," "anticipates," "plans," 
      "plan," to be uncertain and forward-looking. The forward-looking 
      statements contained herein are also subject generally to other risks 
      and uncertainties that are described from time to time in the Company's 
      filings with Securities and Exchange Commission.