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.