ChinaEdu Shareholders Approve Both Nominees to Board of Directors at Annual Meeting
September 29 2008 - 8:00AM
PR Newswire (US)
Tianwen Liu Appointed as an Independent Director BEIJING, Sept. 29
/Xinhua-PRNewswire-FirstCall/ -- ChinaEdu Corporation (NASDAQ:CEDU)
("ChinaEdu" or the "Company"), an educational services provider in
China, today announced the election of Mr. Tianwen Liu as an
independent director, and the re-election of Mr. Shawn Ding to the
ChinaEdu board of directors at the Company's Annual Meeting of
Shareholders held on September 24, 2008. Mr. Tianwen Liu replaces
Ms. Xiaohong Chen, who announced her retirement in early August and
was not up for re-election. Ms. Chen was originally appointed as a
board member in 2005 by Tiger Global, an investor in ChinaEdu. Mr.
Liu will serve as a member of the Audit and Nominating Committees,
and as Chairman of the Compensation Committee. ChinaEdu's board of
directors is now comprised of seven directors, with three
"independent" directors as defined pursuant to Nasdaq corporate
governance rules. Mr. Ding also remains as ChinaEdu's President and
Chief Operating Officer. "We are pleased to welcome Tianwen as an
independent director at ChinaEdu. We believe his extensive
leadership, operational and financial expertise will contribute to
our continued success in building upon our position as a leading
online education provider in China," said Ms. Julia Huang, Chairman
and Chief Executive Officer. "We thank Xiaohong for her dedicated
service and significant contributions to ChinaEdu during her tenure
as a board member." Mr. Liu is the Chairman and Chief Executive
Officer of iSoftStone Information Service Corporation. In 2001, Mr.
Liu founded iSoftStone Information Service Corporation, one of the
fastest growing IT outsourcing companies in China. Mr. Liu has more
than 20 years of experience in the information technology industry.
Prior to iSoftStone, Mr. Liu co-founded AsiaEC.com in 1999, and led
the effort to build the company from ground up. Prior to
AsiaEC.com, Mr. Liu served as the General Manager of Siemens
Business Services and Siemens Nixdorf Information Technologies from
1996 to 1999, where he was responsible for IT consulting, system
integration and outsourcing businesses in China. Before that, Mr.
Liu worked for several consulting and IT companies in the U.S.,
including Bechtel Corporation, one of the world's premier
engineering, construction, and project management companies, and
Digital Equipment Corporation. Mr. Liu holds a Masters in Business
Administration from the Sloan School of Management at the
Massachusetts Institute of Technology, as well as a Masters degree
in Electrical Engineering from the University of Massachusetts.
About ChinaEdu ChinaEdu Corporation is an educational services
provider in China, incorporated as an exempted limited liability
company in the Cayman Islands. Established in 1999, the Company's
primary business is to provide comprehensive services to the online
degree programs of leading Chinese universities. These services
include academic program development, technology services,
enrollment marketing, student support services and finance
operations. The Company's other lines of businesses include the
operation of private primary and secondary schools, online
interactive tutoring services and providing marketing and support
for international curriculum programs. The Company believes it is
the largest service provider to online degree programs in China in
terms of the number of higher education institutions that are
served and the number of student enrollments supported. The Company
currently has strategic relationships with 20 universities to
support its online degree programs, ten of which are under
long-term, exclusive contracts that vary from 15 to 50 years in
length. Forward-Looking Statements This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including certain plans,
expectations, goals, and projections, which are subject to numerous
assumptions, risks, and uncertainties. Forward-looking statements
involve known and unknown risks, uncertainties and contingencies,
many of which are beyond our control which may cause actual
results, levels of activity, performance or achievements to differ
materially from any future results, levels of activity, performance
or achievements expressed or implied by such forward-looking
statements. The Company's actual results could differ materially
from those contained in the forward-looking statements due to a
number of factors, including those described under the heading
"Risk Factors" in the Company's Annual Report on Form 20-F for the
year ended December 31, 2007, and in documents subsequently filed
by the Company from time to time with the Securities and Exchange
Commission. Unless required by law, the Company undertakes no
obligation to (and expressly disclaim any such obligation to)
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Investor
Contacts In China: Company Contact: S. Jimmy Xia ChinaEdu
Corporation Tel: +86-10-8418-6655 x1150 Email: Investor Relations
(HK): Pamela Leung Taylor Rafferty, Hong Kong Tel: +852-3196-3712
Email: Investor Relations (US): Jessica McCormick Taylor Rafferty,
New York Tel: +1-212-889-4350 Email: DATASOURCE: ChinaEdu
Corporation CONTACT: In China: Company Contact: S. Jimmy Xia of
ChinaEdu Corporation, +86-10-8418-6655 x1150, or ; Investor
Relations (HK): Pamela Leung of Taylor Rafferty, Hong Kong,
+852-3196-3712, or chinaedu@taylor- rafferty.com; Investor
Relations (US): Jessica McCormick of Taylor Rafferty, New York,
+1-212-889-4350, or
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