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Gold/Mining/Energy : Capital Alliance Group - CPT (CDNX) -- Ignore unavailable to you. Want to Upgrade?

To: gg cox who wrote (730)	9/23/2002 2:54:59 PM
From: Al Collard	Read Replies (1) \| Respond to of 960

Capital Alliance to increase ownership in CIBT to 80% Mon 23 Sept 2002 News Release Mr. Toby Chu reports CAPITAL ALLIANCE GROUP TO INCREASE OWNERSHIP IN CIBT Capital Alliance Group has elected to convert its $700,000 shareholder loan to its China-based education subsidiary, CIBT Canadian Institute of Business & Technology Corp. (CIBT), into equity, effectively increasing its ownership stake to approximately 80 per cent. Capital Alliance has also agreed to advance additional capital to finance CIBT's expansion. This unsecured loan will bear interest at the rate of 15 per cent per year. "Increasing our ownership in CIBT at this time is important for a variety of reasons," said Toby Chu, president and chief executive officer of Capital Alliance Group. "Due to the burgeoning interest in China's growing economy, CIBT will be best able to take advantage of business opportunities presented by multinational corporations and major for-profit education providers by streamlining the decision making process while providing better leverage to additional capital. We feel CIBT's strategic position as a foreign-owned leader in China's professional education and training market, with nearly a decade of proven growth, can be expanded and enhanced through additional ownership and further injections of capital." About CIBT Through its subsidiary, CIBT School of Business, comprising three campuses in Beijing, China, CIBT Canadian Institute of Business & Technology Corp. delivers United States based academic and career training programs to thousands of students and corporations in China. Rated as one of the top 10 foreign-owned master of business administration providers in China, CIBT is among the first institutions in China to receive official approval from the Academic Degrees Committee of the State Council to award foreign MBA degrees. CIBT's Chinese joint venture partner, Beijing Polytechnic University, is a distinguished member of China's Project 211, a project representing China's top 100 institutions of higher education chosen to play a leading role in training China's high-level manpower for the 21st century. Through agreements with international universities in United States, Australia, Canada, United Kingdom, Switzerland and Thailand, CIBT provides Chinese students and business executives the opportunity to enhance their education and business skills by studying in China or abroad. Major sponsoring corporations of CIBT's training programs include KPMG, Bank of China International and Nasdaq International.