China's Tsingda Century Education Expects Strong Growth in Its Online Education Business; Eyes IPO

BEIJING, Aug. 6 /Xinhua-PRNewswire/ -- Tsingda Century Education Group recently commented on the Company's plans to become the largest distance learning company in China, as the company works tirelessly to combine the big four buzzwords of international investors: China, Internet, Education and Franchises. Tsingda was incorporated in 2003 by Mr. Zhang Hui, CEO of Tsingda, and his business partners.

"We only had half a million RMB when I decided to set up the Company. However, I always believed that with our advanced business model, we would soon be counted among the top training and education providers in China," said Mr. Zhang. His belief about his new company turned into reality in just four years. Tsingda's registered online members have now reached over four million and profits increased from minus RMB3 million in 2004 to an estimated RMB20 million in 2007. On top of that, there are now over 2,000 agents and 1,600 franchisees across China, and these numbers are still growing fast.

"I think it is now time to leverage international capital for the Company's next growth phase," said Mr. Zhang in a recent conference meeting with Euronext, LSE professionals. A successful IPO would not only provide funds for business expansion, but also increase the Company's international reputation, thus benefiting from cooperation with international partners. Mr. Zhang further commented that distance education would substantially reduce costs and avoid uncertainty compared to international universities and training institutes such as UK universities and BPP, who are currently aiming to enter the Chinese market.

When asked, "What's your opinion on New Oriental Education Group, a Chinese company listed in New York last year?," Mr. Zhang replied, "We see the same prosperous future. However, I am convinced that comprehensive educational and training contents will be more attractive to potential users than just English language courses. We offer various courses covering most individuals' learning needs. We offer a lifelong learning plan, targeting not just Chinese, but foreigners as well.

"The large economic growth in China, along with the effects of the upcoming 2008 Olympic Games, will increase the international importance of the Chinese language. Tsingda set up a Sinology school to address this issue. Moreover, our franchise promotion model is very useful in helping extend our business over a short time. Hence, I believe, that Tsingda's model will be a milestone for education in the internet age."

When Mr. Zhang was then asked how to protect intellectual properties, a burning issue in China. He said that on one hand, Tsingda always respects the law and Ips, ever since the Company's inception, and everything released on the website has been properly referenced and copyrighters' permission acquired. And, on the other hand, the Company has also registered many patents and copyrights itself.

The current management team constitutes Mr. Zhang Hui, CEO, who has run international public companies for several years; Mr. Wang Xiaoming, CTO, who has over 10 years of IT experience; and Ms. Weng Jiangmei, CFO, and former PWC Senior Consultant.

Wealth Index Capital Group LLC, an international finance and consulting company that assists Chinese SMEs to enter overseas capital markets, is supporting Tsingda in its fundraising activities through Private Equity and IPO. Dr. Bill Wong, Partner of Wealth Index, confirmed that Tsingda had successfully been introduced to many European advisors and institutions and that an IPO was not far behind.

About Tsingda Century Education Group

Tsingda Century Education Group, a leading e-learning services provider in China, was incorporated in 2003 by a group of experienced IT professionals. Headquartered in Beijing, the Company has 109 full time employees. With its excellent business model "China + Internet + Education + Franchise + Advertising," the Company has been successfully expending its business throughout China, acquiring remarkable market share. Its "long-life e-learning plan" and the "Tsingda Learning Cafe" are gradually becoming more and more accepted by those in the industry.

For more information, please contact:

Dr. Eberhard Kornotzki

Partner, Wealth Index Capital Group LLC

Tel: +86-10-8608-6161

Email: Kornotzki@wealthindex.com.cn