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Capital Alliance's CIBT updates China developments.
Capital Alliance Group Inc CPT
Shares issued 6,158,674 Jun 7 close $1.80
Wed 7 Jun 2000 News Release
Mr. Toby Chu reports
Capital Alliance Group Inc. and its subsidiary, Canadian Institute of
Business & Technology Corporation, are pleased to update recent
developments relating to CIBT.
As part of CIBT's plans to become a leading provider of education services
throughout China, the company has recently launched a Web site --
www.wangu21.com. This site provides education services throughout China in
both Chinese and English, via the Internet. It has also established another
site for later launch -- Cyberu.edu -- which will provide additional
information about CIBT's programs to English-speaking corporations. The
company's expansion onto the Internet will allow CIBT to rapidly widen its
audience and tap into the very large market of postsecondary graduates in
China who are searching for easy-to-access, affordable, and high-quality
education and skills training programs. As China is poised to enter the
World Trade Organization later this year, the demand for educated
individuals with western-based skills and business training within China is
expected to increase dramatically. The Chinese market of 1.2 billion people
presents tremendous opportunities for those businesses who are well
positioned to service this market.
Established in 1995, CIBT School of Business is an educational institution
jointly formed by Beijing Polytechnic University (BPU), and CIBT. As part
of China's open-door policy, the Chinese government supports foreign-based
educational joint ventures in China. CIBT is proud to be one of the first
Sino-foreign joint venture institutions offering business career training
at a tertiary level in Beijing. CIBT School of Business is also one of the
four officially and nationally approved foreign MBA granting degrees in
Beijing. CIBT has positioned itself to be one of the first education
providers in China to offer on-line certificate and academic degrees.
With the launch of this Web site, CIBT is now poised to take full advantage
of the pending Chinese government's Education Commission ruling to allow
the granting of academic degrees on-line. These academic degrees will
complement the existing on-line certificate programs and course materials
that CIBT now provides to its students. Following discussions with the
Chinese Education Commission, the company expects that the Education
Commission will make it compulsory by the end of this year that any
Internet education company which intends to grant academic degrees will
have to provide a portion of its instruction to its on-line students
through traditional classroom teachings. The majority of existing
Internet-based training/education companies do not have the on-site
facilities in China to provide classroom training. In contrast, CIBT has an
established six-year history of providing traditional classroom-based
education programs in China. With its existing programs, and now with the
launch of its Web site, together with its expansion plans, the company
feels that it has a significant advantage over other competitors hoping to
enter this field in China.
CIBT's educational programs are offered through strategic partnerships with
City University (CU) and International Business School (IBSI). CIBT is
responsible for the daily operations and management in the delivery of its
curriculum. CU is an international educational institution based in
Bellevue, Wash. This institution has been ranked as the university with the
fifth largest MBA enrolment in North America and one of the top cyber
on-line education universities in the world. An agreement between CIBT and
City University grants CIBT the exclusive right to deliver City
University's curriculum in Beijing. This exclusive right elevates CIBT's
status as a facilitator of the Master's degree programs in conjunction with
Beijing Polytechnic University. Based in Toronto, Ont., IBSI is the largest
career development training institution in Canada. Through its alliance
with IBSI, CIBT is able to offer a wide range of IBSI's highly successful
career training and technical courses.
Through its strategic partnerships as well as the courses they have
developed in house, CIBT now offers its students the option of enrolling in
a broad range of certificate and academic degree programs specializing in:
masters of business administration (MBA); business english; executive and
career training; and technical training. CIBT and City University are
working to develop the on-line offerings of these programs. In addition to
the certificate programs CIBT is now offering on-line, it is currently
developing additional certificate level and academic courses to compliment
its existing traditional and on-line curriculum. Other joint venture
relationships are also currently under development between CIBT and various
Chinese educational institutes. CIBT envisions establishing a learning
institution in every major city in China.
Since its inception in 1995, CIBT has experienced an aggressive revenue
growth rate of greater than 50 per cent per year and is currently
profitable. CIBT now has over 1,100 students enrolled in courses at their
three campuses in Beijing. Each of these campuses has state-of-the-art
equipment with combined teaching facilities exceeding 25,000 square feet.
The launch of the new `wangu21.com' on-line service will complement the
existing CIBT programs. In addition to their on-site facilities, this new
Web site will now allow CIBT to access and assist the large number of
students from remote Chinese cities to acquire a high level of education
and training via the Internet. The on-line learning format will allow
students to learn at their own pace regardless of their location. The
students will also have the advantage of going on-line to join discussion
groups with their instructor and other students in a `virtual classroom.'
Charles Chen (president of CIBT China and director of Capital Alliance
Group Inc.) states, "With the availability of the Internet, coupled with
CIBT's established presence in China, excellent reputation, and a six-year
relationship with the Chinese government, CIBT believes that it has a
competitive advantage both within China and abroad."
WARNING: The company relies on litigation protection for "forward-looking"
statements.
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