CIBT Expands Relationship with ITT Educational Services, Inc.
CIBT School of Business & Technology Corp. (“CIBT”), a subsidiary of Capital Alliance Group Inc. (TSX-V:CPT) and a leading business school providing academic degree programs, corporate and information technology training solutions, announced today that ITT Educational Services, Inc. (NYSE:ESI) (“ITT/ESI”) has expanded its cooperation agreement with CIBT in China.
As part of the expanded cooperation, CIBT will deliver the following ITT Technical Institute bachelor level curricula to students in China: Information Systems Security, Technical Project Management and Software Engineering Technology. In addition to enrolling traditional high school graduates, CIBT and ITT/ESI have jointly developed a credit transfer program so that graduates of China’s two-year National Higher Diploma program will be directly accepted into the third year of the bachelor programs. According to China’s National Statistics Bureau, total student enrollment in China’s National Diploma program increased by 36% in 2001 over the previous year to almost 3 million students. New enrollments were up 24% to 1.3 million for the same period.
In addition to introducing new programs, CIBT has been granted exclusive rights to ITT/ESI curricula in three additional provinces in China, namely Shandong, Henan and Shanxi. These provinces are located in northern part of China consisting of over 212 million people, approximately 18% of China’s population. China’s National Statistics Bureau reported in 2001 that the total number of university and college level enrollments in Shandong, Henan, and Shanxi increased over the prior year by 35% to 983,543.
“We were delighted when CIBT indicated an interest in our bachelor level information technology programs,” commented Rene R. Champagne, chairman and chief executive officer of ITT Educational Services, Inc. “CIBT is very adept at identifying the knowledge and skills needed for the attractive employment opportunities in China’s rapidly growing IT sector. These are the same programs offered to our American students, which we think Chinese students will find attractive in this global economy.”
“ITT Educational Services continues to demonstrate significant leadership, in-depth understanding and long term commitment in adapting to demands in the Chinese educational market,” stated Toby Chu, president and CEO of CIBT. “This expanded agreement opens up new opportunities with the large numbers of Chinese National Diploma graduates seeking recognition of their studies into the third year of advanced western style education. We believe we are not only an early entrant but unique in this advanced curricula offering in China.”
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 School of Business & Technology Corp. delivers foreign academic degree programs, career training and IT training solutions to thousands of students and corporations in China. By cooperating with leading North American education providers, CIBT will continue to expand its curriculum offering to sectors such as health care and career education.
About ITT Educational Services, Inc.
ITT Educational Services, Inc. is a leading private college system offering career-focused postsecondary degree programs in fields of technology and business to more than 33,000 students in the USA.
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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