ChinaCast Education Corporation Announces Appointment of New Director of
International Academic Affairs and New Chief Investment Officer
BEIJING, Nov. 16, 2009 (GLOBE NEWSWIRE) -- ChinaCast Education Corporation (the
"Company" or "ChinaCast") (Nasdaq:CAST), a leading for-profit, post-secondary
and e-Learning services provider in China, today announced that Dr. Donald
Gardner has been appointed Director of International Academic Affairs and that
Mr. Xiang Yuan Jiang, previously Executive Vice President of the Company's
Shanghai office, has been promoted to Chief Investment Officer.
Dr. Donald Gardner, a global education industry veteran, will spearhead the
overall development and operations of ChinaCast's international higher education
division. This includes cultivating partnerships with international education
institutions, developing student and teacher exchange programs and selecting key
individuals to build out an effective international team. Prior to joining
ChinaCast, Dr. Gardner taught at a number of graduate schools and universities
throughout Asia and the United States, including Hong Kong Baptist University,
Hong Kong Theological Seminary, Asia Graduate Theological Seminary, Malaysian
Theological Seminary, Chung Yuan University, William Jewell College and Dallas
Baptist University. He also served on a number of academic committees and in
various administrative roles within the aforementioned schools. Dr. Gardner
holds a Bachelor of Science Degree from Dallas Baptist University and has both a
Master's and Doctorate Degree from Southwestern Theological Seminary in Fort
Worth, Texas.
"We are privileged to have a seasoned education professional like Dr. Gardner
join our management team," said Ron Chan, Chairman and CEO of ChinaCast. "I am
confident he will make significant contributions to the Company, especially in
our global education partnerships for our universities and e-Learning
businesses, for which we see attractive growth opportunities."
As Chief Investment Officer, Mr. Xiang Yuan Jiang will oversee all aspects of
the Company's merger and acquisition strategies, including strategic business
development, due diligence, deal negotiations and financing. Mr. Jiang joined
ChinaCast in 2001 as Finance Director in the Company's Shanghai office and was
promoted to Executive Vice President of Finance in 2005. Mr. Jiang holds a
Bachelor of Arts degree from Shanghai Institute of Foreign Trade and a Master's
in Business Administration degree from Macau University of Science and
Technology. From 1993 to 1994, Mr. Jiang completed the International Business
Management Program of the University of California at Los Angeles. He also
currently serves as a Researcher for the Center of Chinese Business Studies at
Fudan University in Shanghai and as an Associate Researcher for the China
National High Technology Industrialization Organization.
Mr. Chan added, "I am also pleased to announce the promotion of Mr. Jiang, who
has over 20 years of experience in the finance industry in China, to the new
post of Chief Investment Officer. He has contributed greatly to the growth of
the Company over the past 8 years and his industry knowledge and successful
track record will be of great value as we pursue our merger and acquisition
growth strategies."
About ChinaCast Education Corporation
Established in 1999, ChinaCast Education Corporation is a leading for-profit,
post-secondary education and e-Learning services provider in China. The Company
provides post-secondary degree and diploma programs through its two universities
in China: The Foreign Trade and Business College of Chongqing Normal University
and the Lijiang College of Guangxi Normal University. These universities offer
fully accredited, career-oriented bachelor's degree and diploma programs in
business, economics, law, IT/computer engineering, hospitality and tourism
management, advertising, language studies, art and music. The Company provides
its e-Learning services to post-secondary institutions, K-12 schools, government
agencies and corporate enterprises via its nationwide satellite/fiber broadband
network. These services include interactive distance learning applications,
multimedia education content delivery, English language training and vocational
training courses. The Company is listed on NASDAQ with the ticker symbol CAST.
Safe Harbor Statement
This press release may contain statements that are forward-looking, as that term
is defined by the Private Securities Litigation Reform Act of 1995. These
forward-looking statements express our current expectations or forecasts of
possible future results or events, including projections of future performance,
statements of management's plans and objectives, future contracts, and forecasts
of trends and other matters. These projections, expectations and trends are
dependent on certain risks and uncertainties including the risk factors listed
in the Company's Annual Report on Form 10-K for the fiscal year ended December
31, 2008. Forward-looking statements speak only as of the date of this filing,
and we undertake no obligation to update or revise such statements to reflect
new circumstances or unanticipated events as they occur. You can identify these
statements by the fact that they do not relate strictly to historic or current
facts and often use words such as "anticipate," "estimate," "expect," "believe,"
"will likely result," "outlook," "project," and other words and expressions of
similar meaning. No assurance can be given that the results in any
forward-looking statements will be achieved and actual results could be affected
by one or more factors, which could cause them to differ materially. For these
statements, we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act.
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CONTACT: ChinaCast Education Corporation
Michael J. Santos, Chief Marketing Officer
+1-347-482-1588
mjsantos@chinacasteducation.com
www.chinacasteducation.com
HC International
Ted Haberfield, Executive Vice President
+1-760-755-2716
thaberfield@hcinternational.net
