CIBT Expands to Suzhou
Capital Alliance Group Inc. (TSX.V: CPT) is pleased to report that on January 18, 2007, its subsidiary, CIBT School of Business & Technology Corp. (“CIBT”) signed a Memorandum of Understanding (“MOU”) with Suzhou Technical College (“STC”) to establish an automotive school in Suzhou City, Jiangsu Province.
Administered by the Labor Bureau of Suzhou, STC is a vocational college with an operating history of over four decades. Located in Suzhou City, the school is approximately an hour’s drive from Shanghai and currently enrolls 7,000 students on a 50-acre campus. STC plans to relocate to a larger facility in 2008. As part of its expansion initiatives, STC and CIBT will jointly establish an advanced automotive training school named CIBT WyoTech School (Suzhou), which will be comprised of two floors including classroom facilities, and a 21,000 ft2 workshop. CIBT will invest intellectual property, and cash, as well as advanced training materials and management expertise. STC will provide free use of the land and building for 15 years including leasehold improvements in exchange for a minority stake in the new venture. The parties are proceeding with a formal agreement, which is expected to be completed shortly.
About Suzhou Technical College:
Established in 1960 as Suzhou Senior Technical School, Suzhou Technical College is a comprehensive national level vocational college offering programs in electrical and mechanical trades, and information technology in a state of the art facility with computer labs, multi-media classrooms, an indoor gym, and library. The institution has established working relationships with a number of institutions in China including Shanghai Jiaotong University, the Nanjing Institute of Technology, and the Suzhou Institute of Technology.
About Suzhou City, Jiangsu Province:
Jiangsu Province, with a population of 74.3 million, is home to Suzhou City, a city with one of the fastest growing economies in eastern China. Suzhou is the one of the wealthiest cities in China ranking 5th among 659 Chinese cities in terms of per capita GDP. The city focuses on light industry specializing in products such as silk and embroidery. Other industrial products produced in this region require iron and steel, chemicals, and electronics.
About CIBT:
CIBT School of Business is a leading business, technology and technical school in China for over a decade. CIBT operates three campuses in Beijing, two campuses in Weifang, one campus in Anyang, and six learning centers in other cities in China. CIBT has academic partnerships with Beijing University of Technology and Weifang University, and delivers postsecondary business, technology and technical trade skill programs to students and corporations in China. By cooperating with leading education providers in North America including Western International University, a subsidiary of Apollo Group Inc., ITT Technical Institute, WyoTech Technical Institute, a subsidiary of Corinthian Colleges Inc., and other universities from Europe and Asia, CIBT delivers advanced curricula to meet the progressive needs of China’s growing student population.
Capital Alliance Group Inc. and
CIBT School of Business & Technology Corp.
Toby Chu
President & C.E.O.
Investor Relations Contact: Mr. James Neil * N. America Toll Free: 1-888-865-0901 Ext.322 * Email: info@cag-global.com
WARNING: This news release contains forward-looking information. The reader is cautioned that assumptions used in preparing such information, although considered accurate at the time of preparation, may prove incorrect. The actual results achieved may vary materially from the information provided herein. Consequently, there is no representation by the company that actual results achieved will be the same as those forecast.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.