BEIJING, March 13, 2012 /PRNewswire-Asia/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company" NYSE: AMBO), a leading national provider of educational and career enhancement services in China, today announced that it has won the bid from the Chinese Ministry of Education (MOE), an agency of the State Council which regulates all aspects of the educational system in China, to exclusively design and develop the first national cloud-based education data platform. Ambow will create an entirely new way for over 14 million K-12 school teachers and approximately 4 million teacher candidates(1), who study at the normal universities, or teachers' colleges in China, to take cloud-based classes, share professional experiences, and sharpen their teaching skills. The Normal University and College system focuses on training and preparing school teachers to become eligible in entire accredited school system in China. The system also ensures these teachers maintain good standing by obtaining all necessary certifications and fulfilling continuing education requirements.
Education in the Cloud will be designed to offer a place with rich media content, virtual communities, live discussions, and interactive features that enrich learning experiences. It will provide a means for teachers and teacher candidates to update their knowledge, take refresher courses, and improve their teaching skills through cloud-based certification programs, advanced and joint-degree programs, and peer-to-peer professional social networking that are supported by the best experts, practices, and content. The system will also support a standardized process to pay for online classes, obtain teacher recertification, transfer intercollegiate credits, and leverage the entire Normal University and College system and the database of the hundreds and thousands of K-12 schools across China.
Ambow, as the exclusive designer and developer of China's Education in the Cloud, sees the MOE's cloud initiative as just the beginning of a trend in education and an enormous market opportunity. "The project win from the Ministry of Education is a recognition of our decade-long effort in online education, and positions us to continue to be a leader in innovation and education," commented Dr. Jin Huang, CEO of Ambow Education. "Ambow seeks to provide students the best in choice, the best in opportunities, and the best in education. As such, this project is a win for teachers and students, and a clear win for our cloud capabilities and the huge market opportunities it presents," concluded Dr. Huang.
(1) The Chinese Normal Universities and Colleges are teachers' colleges that train students to become future teachers in all accredited schools in China. Therefore in this news release, the words "teacher candidates" and "students" will be used interchangeably.
About Ambow Education Holding Ltd.
Ambow Education Holding Ltd. (NYSE: AMBO) is a leading national provider of educational and career enhancement services in China, offering high-quality individualized services and products. Ambow has two business divisions: "Better Schools," which includes tutoring centers and K-12 schools; and "Better Jobs," which includes career enhancement centers and colleges. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in 30 out of the 31 provinces and autonomous regions within China.
Forward Looking Statements
Some statements in this press release, including statements regarding the future Education in the Could system, and how the system can serve the teachers in the education market, are forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including any changes in government policies, laws and regulations, competition and economic conditions. Investors also should consider the information contained in Ambow's filings with the U.S. Securities and Exchange Commission from time to time. Other unknown or unpredictable factors also could cause actual events and results to differ materially. In light of these risks, uncertainties and factors, you are cautioned not to place undue reliance on forward-looking statements. Ambow disclaims any obligation to update information contained in forward-looking statements, whether as a result of new information, future events or otherwise.
For investor and media inquiries please contact:
Ms. Mandy Li
Investor Relations
Ambow Education Holding Ltd.
Tel: +86-10-6026-8130
Email: ir@ambow.com
