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Noah Education Announces Senior Management Changes

2009-11-09 22:07 464

SHENZHEN, China, Nov. 9 /PRNewswire-Asia/ -- Noah Education Holdings Ltd. (NYSE: NED, "Noah" or "the Company"), a leading provider of interactive educational content and education services in China, today announced the appointment of Mr. Benguo Tang, one of Noah's founders, to the position of President and Chief Operating Officer, as well as the appointment of Mr. Jerry He, the Company's Executive Vice President, to the role of Chief Financial Officer.

Mr. Tang will take over the position of Chief Operating Officer from Mr. Xianquan Xiao, who has stepped down due to personal matters, but will continue to serve Noah on the Company's Board of Directors. Having played an instrumental role in Noah's founding, Mr. Tang brings to the position not only vast industry knowledge, but a deep understanding of Noah's business. Mr. Xiao, who has overseen the Company's daily business activity and operating initiatives since taking on the role of Chief Operating Officer in 2008, remains committed to Noah's long-term success, and will continue to provide strategic advice in the capacity of Executive Director.

Mr. Jerry He, who joined Noah in July 2009 as Executive Vice President, will assume the position of Chief Financial Officer, driving the Company's corporate and strategic development as it enters a new growth phase, while also maintaining responsibility for the fiscal planning and investor relations functions. Ms. Dora Li, who has served as Chief Financial Officer since 2008, and has reported to Mr. He since he joined the company in July, will continue to play a leadership role at the Company, managing Noah's internal financial controls and accounting processes as Noah's Vice President of Finance, Controller. All of the aforementioned managerial changes will all take effect immediately.

Mr. Dong Xu, Noah's Chairman and Chief Executive Officer, said, "These managerial changes will allow each individual to focus on his or her core strengths and, ultimately, create a stronger and more cohesive senior management team to support our growth. We wish Mr. Xiao all the best in his personal endeavors, and look forward to the invaluable leadership and advice he will continue to provide as an Executive Director. We welcome Mr. Tang's return to the management team as Chief Operating Officer. Given his commitment to the success of Noah since its inception and his wealth of company and industry experience, I am confident that he will be able to hit the ground running and provide a seamless transition as we continue our expansion."

"Additionally, Jerry He will continue to leverage his extensive background in both finance and business development as he more actively spearheads strategic investments and drives both organic and acquisitive growth initiatives in his new role as Chief Financial Officer. Dora Li, who has been instrumental to our growth as a public company, will take on a more focused leading role in our finance department. With the continued expansion of Noah, we believe it is imperative to have someone as experienced as Ms. Li dedicated to overseeing our internal controls and financial reporting. I welcome each individual to their new role and am confident that their collaborative efforts and expertise will further our vision of becoming the leading provider of interactive educational content and education services in China," Mr. Xu concluded.

About Noah

Noah Education Holdings Limited is a leading provider of interactive educational content and education services in China. Noah's core offering includes the development and marketing of interactive educational courseware content, electronic learning products (ELPs), software, kids' English training and after-school education services. Noah combines standardized education content with innovative digital and multimedia technologies to create a dynamic learning experience and improve academic performance for the kids at the age of 3-19 in China. Noah has developed a nationwide sales network, powerful brand image, and accessible and diverse delivery platforms to bring its innovative content to the student population. Noah also provides kids' English training service under the brand Little New Star in its direct-owned schools and more than 600 franchise schools throughout China. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED.

For more information about Noah, please visit http://www.noahtech.com.cn .

Safe Harbor Statement

This press release contains forward-looking statements that reflect Noah's current expectations and views of future events that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Noah has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. You should understand that our actual future results may be materially different from and worse than what Noah expects. Information regarding these risks, uncertainties and other factors is included in Noah's most recent Annual Report on Form 20-F and other filings with the SEC.

For more information, please contact:

Investor Contact:

Jerry He

CFO, Executive Vice President

Noah Education Holdings Ltd

Tel: +86-755-8204-9263

Email: jerry.he@noahedu.com

Investor Relations (US):

Jessica McCormick

Taylor Rafferty

Tel: +1-212-889-4350

Email: noahedu@taylor-rafferty.com

Investor Relations (HK):

Ruby Yim

Taylor Rafferty

Tel: +852-3196-3712

Email: noahedu@taylor-rafferty.com

Source: Noah Education Holdings Ltd.
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