ChinaEdu Corporation Signed New University Partners

2009-07-22 17:42 714

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


S. Jimmy Xia, IR Manager

ChinaEdu Corporation

Phone: +86-10-8418-6655 x1150


Source: ChinaEdu Corporation
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