CIBT TO EXPAND PRESENCE TO EASTERN CHINA
CIBT School of Business & Technology Corp. (“CIBT”), a subsidiary of Capital Alliance Group Inc. (TSX-V: CPT) and a leading business school in China, has entered into a Memorandum of Understanding with Weifang University (“WFU”) to jointly deliver bachelor degree programs with CIBT and its U.S. academic partners. Programs will be held at the WFU campus in Weifang city, Shandong Province, China. These bachelor degree programs will be similar to the localized programs delivered by CIBT at its Beijing campuses. A formal agreement is being prepared and is subject to the approval of its respective parties.
WFU is one of the largest universities in Weifang city, with a modern campus that occupies an area of over 300 acres and employs 1,500 full-time faculty members and staffs. Governed by China’s Ministry of Education, WFU has approximately 28,000 full and part-time students enrolled in 32 degree programs across 16 faculties that require Electric & Electronic Engineering, Information Technology & Control Engineering and Computer Science. WFU’s student services facilities require two cafeterias with capacity of 10,000 students each and dormitories that can accommodate up to 20,000 students. The WFU library is home to over 1 million books, 3,000 periodicals, and 15,000 audio/visual materials and has the capacity to hold up to 10,000 students at any one time. The university is also Weifang district’s network center for the China Education and Research Network (CERNET), which is the first nationwide education and research computer network funded by the Chinese government.
Weifang city, located in central Shandong Province, has a population of about 8.5 million and its major industries require electronics, machinery, chemical and building materials, marine chemistry and paper. In 2002, the city’s GDP was RMB 89.5 billion (approximately US$10.8 billion). Within a 2 hour driving distance from Weifang city in all four directions resides approximately 110 million people.
“Our relationship with WFU marks the beginning of our nationwide expansion program through establishing academic partnerships with reputable and long-standing institutions in China,” stated Toby Chu, President and CEO of CIBT. “We anticipate the next phase of growth to require joint investments in local facilities, buildings and other infrastructure. As we continue to establish physical presence at most major cities, we plan to develop our China on-line headquarters in Weifang city. On-line delivery is the only practical means to expand our reach throughout China and increase our student base from thousands to millions.”
About CIBT
Founded in 1994, CIBT School of Business is a recognized business school in Beijing, China. CIBT operates two campuses in Beijing and three learning centers in other cities in China. CIBT has an academic partnership with Beijing University of Technology 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.
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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