ChinaEdu Corporation Signed New University Partners
July 22 2009 - 6:00AM
PR Newswire (US)
BEIJING, July 22 /PRNewswire-Asia-FirstCall/ -- ChinaEdu
Corporation (NASDAQ:CEDU) ("ChinaEdu" or "the Company"), an
educational services provider in China, today announced that it has
signed education cooperation agreements with Jiangsu University and
Fujian Radio and TV University. Jiangsu University is currently
applying for approval to provide online degree education by the
Ministry of Education in China. Under the agreement, the Company
will provide exclusive technology and support services to Jiangsu
University's adult education college for the next six years prior
to the approval for the online degree program. Once online degree
approval is granted, the Company will provide Jiangsu University
with exclusive technology and support services for a period of ten
years. Julia Huang, Chief Executive Officer of ChinaEdu
Corporation, commented, "We are pleased to have our new university
partners. We believe our success and experience in online education
will add considerable value to the university brand names as well
as ChinaEdu's online degree business. We look forward to long and
successful partnerships." Jiangsu University is located in the city
of Zhenjiang, Jiangsu province. Currently, Jiangsu University has
24 schools, with 280 professors and 850 associate professors with
73 undergraduate programs and 95 master's programs. There are more
than 35,000 students enrolled, which includes 6,000 postgraduates.
Jiangsu University is well known for its programs in engineering,
medicine, science, management and humanities. ChinaEdu has also
signed a 20-year collaborative alliance agreement with Fujian Radio
and TV University in Fujian province. Under the agreement, the
Company holds a 51% equity interest and will provide the
development and delivery of online education services to Fujian's
K-12 and adult students. 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 15 long-term, exclusive contracts that
generally vary from 15 to 50 years in length. ChinaEdu also
performs recruiting services for 17 universities through our
nationwide learning center network. Forward-Looking Statement 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, 2008,
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. For more information, please contact:
Lily Liu, CFO ChinaEdu Corporation Phone: +86-10-8418-6655 x1002
Email: S. Jimmy Xia, IR Manager ChinaEdu Corporation Phone:
+86-10-8418-6655 x1150 Email: DATASOURCE: ChinaEdu Corporation
CONTACT: Lily Liu, CFO of ChinaEdu Corporation, +86-10-8418-6655
x1002, or ; S. Jimmy Xia, IR Manager of ChinaEdu Corporation,
+86-10- 8418-6655 x1150, or
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