Capital Alliance Subsidiary Announces PRC Nationwide E-Learning Partnership With ChinaCast
1/4/05
TSX.V Symbol: CPT
VANCOUVER, Jan 04, 2005 (Canada NewsWire via COMTEX) --
CIBT School of Business & Technology Corp. ("CIBT"), a subsidiary of Capital Alliance Group Inc. (TSX.V: CPT), has entered into a Memorandum of Understanding ("MOU") with ChinaCast Communications Holdings Limited ("ChinaCast") to deliver educational programs provided by CIBT and its US academic partners using ChinaCast's nationwide satellite broadband-based e-learning network throughout China. ChinaCast, a publicly listed company on the Singapore Stock Exchange, is headquartered in Beijing, China. Under the terms of the MOU, CIBT will develop selected courses and deliver them via broadband satellite to students at over 300 ChinaCast training centers located throughout the country. ChinaCast currently trains over 80,000 university students via its satellite broadband e-learning network.
"The partnership with ChinaCast enables us to expand our educational services to potential education partners across China and gives us the ability to reach out to millions of Chinese students, particularly in areas where high speed internet is less accessible," stated Toby Chu, President and CEO of CIBT. "CIBT will deliver selected certificate programs via ChinaCast's satellite delivery system with credits transferable to degree programs that are taught on the ground using the traditional in-class format. By combining ChinaCast's satellite e-learning network with CIBT's on-line and in-class delivery modules, it will create a unique learning experience for our students in China."
Mr. Ron Chan, CEO of ChinaCast added, "We are pleased with this partnership with CIBT, one of the fastest growing providers of quality education programs in the PRC. As the leader in providing e-learning services via satellite in the PRC, we have the technical expertise and nationwide network to assist CIBT in bringing world-class education programs to a broad audience in the PRC."
The proposed business venture between CIBT and ChinaCast is subject to the negotiation and signing of a definitive agreement, which will incorporate the terms of the MOU.
About ChinaCast
Established in 1999 and headquartered in Beijing, ChinaCast Communications Holdings Limited (Singapore Stock Exchange stock code: C64) is the leading provider of education enabling services via satellite-based broadband technology to educational institutions, government agencies, enterprises and multinational companies throughout China and is today the leading privately held satellite-based services group in China.
ChinaCast offers its Education and Training solutions to universities and primary and middle schools (K-12). These services include broadband satellite network services, interactive distance learning applications, multimedia education content, educational portals, as well as IT certification and management training courses.
In addition to Education and Training solutions, ChinaCast also provides Enterprise Networking solutions that are targeted at large corporations, government agencies and multinational companies that require data, video and voice communications between their head office and branch offices throughout China. ChinaCast offers cost-effective and reliable network services on a full turnkey basis including network design, systems integration, network management and maintenance.
More information and ChinaCast's simultaneous news release can be found on the company's website at: chinacastcomm.com.
About CIBT
Founded in 1994, CIBT School of Business is a leading business school in Beijing, China. CIBT operates two campuses in Beijing, a campus in Weifang, and three learning centers in other cities in China. CIBT has academic partnerships with Beijing University of Technology and Weifang University, and delivers postsecondary business and technology education to students and corporations in China. By cooperating with leading education providers in North America, Europe and Asia, CIBT continually develops advanced curricula to meet the needs of China's growing economy. CIBT websites are: www.cibtcorp.com and www.cibt.edu.
Capital Alliance Group Inc. "TOBY CHU" Toby Chu President & C.E.O.
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