CIBT Enrollments Increase by 153%
CIBT Canadian Institute of Business & Technology Corp (“CIBT”), a subsidiary of Capital Alliance Group Inc., today reported an increase of 153% in fall 2002 enrollments, as compared to the same period last year. The increase in new student enrollment was attributed to the high demand for CIBT’s cooperative international bachelor degree program (“2+2 program”) and favorable response to the newly launched information technology program. CIBT also announced it was selected, through a competitive bidding process, to provide English language and computer training to Chinese recipients of the Ford Foundation International fellowship program.
Launched in 1999, the international bachelor degree program allows Chinese students to obtain their bachelor degree by studying in Beijing and abroad. Following two years of study at CIBT’s campuses in Beijing, students complete the final two years of undergraduate degrees at one of five CIBT partner universities located around the globe. The first group of 69 students in this program has successfully transferred to CIBT’s academic partners in the UK, Malaysia and Thailand. An additional 24 students are awaiting visa approval for the UK, Canada and Australia. Based, in large part, on referrals from participating students, enrollments in this year’s 2+2 program have increased by 98% over the previous year.
CIBT’s information technology program, one of the first foreign-owned joint venture information technology diplomas approved by the Chinese government, also received favorable response with over 100 students in its first group.
CIBT also signed a contract with the Ford Foundation to provide English language, business and technical training to students from remote areas of China who are sponsored by the Ford Foundation to attend graduate level programs at schools in the U.S. Due to the wide range of educational and professional backgrounds, candidates are required, under the terms of the agreement, to participate in a 5-10 month training program at CIBT’s campuses in Beijing, China. Founded in 1936, the Ford Foundation operated as a local philanthropy in the state of Michigan until 1950, when it expanded to become a national and international foundation. Since its inception, it has been an independent, non-profit, non-governmental organization and has provided slightly more than US$10 billion in grants and loans.
“We are very pleased with the phenomenal growth in enrollments for 2002,” stated Toby Chu, CEO of CIBT. “The popularity of our programs demonstrates strong demand for foreign education, and the government’s dedication to opening its doors to foreign investment. Furthermore, after receiving formal government approval for the information technology program just three months ago, the reception and interest has been significant. Our enrollment results confirm CIBT’s firmly established, strategic position in China and set the foundation for aggressive expansion in this vastly untapped market of 1.2 billion people.”
Formed in 1994, CIBT has established itself as a prestigious institution of higher learning. Through its subsidiary, CIBT School of Business, comprising three campuses in Beijing, China, CIBT Canadian Institute of Business and Technology Corp. delivers corporate training, academic degree programs and technology training solutions to thousands of students and corporations in China. Rated as one of the top ten foreign-owned MBA 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 the United States, Australia, Malaysia, Canada, the UK, 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 require KPMG, Bank of China International and NASDAQ International. For more information, visit the CIBT websites at www.CIBTCorp.com or www.cibt.edu
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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