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New Oriental Issues Statement in Response to Name Confusion

New Oriental Education and Technology Group Inc.
2006-11-30 09:07 1728

BEIJING, Nov. 29 /Xinhua-PRNewswire/ -- New Oriental Education and

Technology Group Inc. (NYSE: EDU), the largest provider of private

educational services in China, today issued a statement to clarify some

market confusion between the name of the Company and the privately held

Oriental Standard.

“To be clear, New Oriental has no affiliation with Oriental Standard,

which recently announced that it has raised a round of venture capital

financing,” said New Oriental’s Chairman and Chief Executive Officer Mr.

Michael Yu. Mr. Yu noted that Oriental Standard was spun off from New

Oriental Education and Technology Group in 2005.

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.”

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 November 29, 2006, and New Oriental undertakes no duty to update such

information, except as required under applicable law.

Source: New Oriental Education and Technology Group Inc.
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