Louis T. Hsieh Appointed to New Oriental's Board of Directors
March 15 2007 - 6:00AM
PR Newswire (US)
BEIJING, March 15 /Xinhua-PRNewswire/ -- New Oriental Education
& Technology Group Inc. (NYSE:EDU), the largest provider of
private educational services in China ('New Oriental' or the
'Company'), today announced that it appointed Louis T. Hsieh to the
Company's board of directors (the 'Board') at a meeting of the
Board held on March 5, 2007. Mr. Hsieh will continue to serve as
New Oriental's Chief Financial Officer, a position he has held
since December 2005. 'I am very pleased to be adding someone of
Louis' keen business acumen and extensive board experience to New
Oriental's Board,' said Michael Yu, New Oriental's Chairman and
Chief Executive Officer. 'Louis' depth of financial, legal and
operational experience has been invaluable to New Oriental's
success in becoming China's premier private education and training
provider.' Prior to joining New Oriental, Mr. Hsieh was the CFO of
ARIO Data Networks, Inc. in San Jose, California for two years.
Prior to that, Mr. Hsieh was a Managing Director and Asia-Pacific
TMT Head of UBS Capital Asia Pacific, the private equity division
of UBS AG. Prior to joining UBS Capital, Mr. Hsieh was a technology
investment banker at JP Morgan in San Francisco, California, where
he was a Vice President, and Credit Suisse First Boston in Palo
Alto, California, where he was an Associate. From 1990 to 1996, Mr.
Hsieh was a corporate and securities attorney at White & Case
LLP in Los Angeles and is a member of the California bar. Mr. Hsieh
holds a B.S. degree in Engineering from Stanford University, an MBA
degree from the Harvard Business School, and a J.D. degree from the
University of California at Berkeley. About New Oriental New
Oriental is the largest provider of private educational services in
China based on the number of program offerings, total student
enrollments and geographic presence. New Oriental offers a wide
range of educational programs, services and products consisting
primarily of English and other foreign language training, test
preparation courses for major admissions and assessment tests in
the United States, the PRC and Commonwealth countries, primary and
secondary school education, development and distribution of
educational content, software and other technology, and online
education. New Oriental's ADSs, each of which represents four
common shares, currently trade on the New York Stock Exchange under
the symbol 'EDU.' For more information about New Oriental, please
visit http://english.neworiental.org/ . Safe Harbor Statement This
announcement contains forward-looking statements. These statements
are made under the 'safe harbor' provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as 'will,'
'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,'
'estimates' and similar statements. Statements that are not
historical facts, including statements about New Oriental's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Information
regarding these risks and uncertainties is included in our
registration statement on Form F-1 and other documents filed with
the Securities and Exchange Commission. New Oriental does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law. All information provided
in this press release is as of March 15, 2007, and New Oriental
undertakes no duty to update such information, except as required
under applicable law. For investor and media inquiries, please
contact: In China: Ms. Sisi Zhao New Oriental Education and
Technology Group Inc. Tel: +86-10-6260-5566 x8203 Email: Mr. Rory
Macpherson Ogilvy Public Relations Worldwide Tel: +86-10-8520-6553
Email: In the United States: Mr. Thomas Smith Ogilvy Public
Relations Worldwide Tel: +1-212-880-5269 Email: DATASOURCE: New
Oriental Education and Technology Group Inc. CONTACT: In China, Ms.
Sisi Zhao of New Oriental Education and Technology Group Inc.,
+86-10-6260-5566 x8203, or , or Mr. Rory Macpherson,
+86-10-8520-6553, or , or in the United States, Mr. Thomas Smith,
+1-212- 880-5269, or , both of Ogilvy Public Relations Worldwide,
for EDU Web Site: http://english.neworiental.org/
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