CIBT Information Technology Programs Receive Government Approval
CIBT Canadian Institute of Business & Technology Corp. (“CIBT”), a leading business school providing corporate training, academic degree programs and technology training solutions in Beijing, China, has received formal approval from the Beijing Municipal Education Commission to deliver information technology (IT) diploma programs.
Under the previously announced agreement with ITT Educational Services, Inc. (NYSE:ESI), beginning September 2002, CIBT will offer IT diploma programs consisting of courses developed in the United States by the ITT Technical Institutes and in China by Beijing Polytechnic University. This announcement marks the first joint diploma program between a Chinese university and an American technical institute to be approved by the Beijing government.
“This approval represents a significant milestone in the aggressive expansion of our programs in China,” said Toby Chu, CIBT president and CEO. “Endorsement by Beijing’s government both enhances the attractiveness of our technology programs to Chinese students and fosters credibility with technology companies throughout China. With China’s rapidly growing IT market, both China’s private and public sectors predict the need for a large pool of skilled IT workers will continue to expand.”
Rene R. Champagne, chairman and CEO of ESI said, “We are very pleased with the reception received from government officials and Beijing technology companies regarding the introduction of IT diploma programs. We believe opportunities to expand these curricular offerings to other cities in China exist, which will be explored by CIBT and ESI in the future.”
CIBT also reports that it has ceased to be a reporting issuer in British Columbia.
About ITT Educational Services Inc.
ITT Educational Services, Inc. (“ESI”) is a leading provider of technology-oriented postsecondary degree programs. Currently, ESI operates 71 ITT Technical Institutes in 28 states, which predominantly provide career-focused degree programs of study in fields of technology to approximately 31,000 students. Headquartered in Indianapolis, Indiana, ESI has been actively involved in the higher education community in the United States since 1969. The ITT Technical Institutes have graduated approximately 150,000 students, including 80,000 in the last decade. ESI shares are traded on the New York Stock Exchange under the symbol “ESI.” For more information, visit the ESI website at www.ittesi.com or the ITT Technical Institute website at www.itt-tech.edu.
About CIBT
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 Australia, Canada, the UK, Switzerland and Thailand, CIBT provides Chinese students and business executives the opportunity to study 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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