CIBT Joint Programs with ITT & WIU Receive Government Recognition in 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, announces that its bachelor degree programs jointly offered with Beijing University of Technology, ITT Educational Services, Inc. (NYSE:ESI), which operates the ITT Technical Institutes, and Western International University (“WIU”), subsidiary of Apollo Group, Inc (NASD:APOL), received accreditation approval from the Beijing Municipal Education Commission (“BMEC”).
According to BMEC, this approval marks the first foreign bachelor degrees to receive formal government recognition by Beijing’s regulatory authorities. College graduates from China with two years work experience will be able to transfer their earned credits from Chinese colleges to ITT or WIU bachelor degree programs delivered by CIBT in China. Under Chinese law, regulatory bodies or academic institutions will not recognize academic degrees offered in China by foreign education providers unless such degrees receive accreditation approval by regulatory bodies.
“We are delighted that our joint programs with ITT and WIU have received official accreditation by the Chinese government,” stated Toby Chu, president and CEO of CIBT. “Recognizing our long term commitment to providing advanced academic curricula in China, this announcement gives CIBT a significant competitive advantage. It also strengthens our reputation as we now offer our students highly sought after bachelor degree programs from institutions accredited in the U.S. that now have accreditation in China as well.”
“We are very pleased and proud that our bachelor degree programs offered by CIBT in China have received BMEC approval,” said Rene R. Champagne, chairman and CEO of ITT/ESI. “We look forward to the opportunities that this recognition will provide to students in China.”
“Western International University is pleased to have this opportunity to offer its accredited degree programs in China,” said Michael J. Seiden, President of Western International University. “WIU has provided many international students with the opportunity to earn American undergraduate degrees at our campuses in the U. S. Now, we are happy to be able to provide the opportunity for students to receive the same quality education in China without having to go abroad.”
ITT Educational Services, Inc. (“ITT/ESI”) is a leading provider of technology-oriented postsecondary degree programs. Currently, ESI operates 77 ITT Technical Institutes in 30 states, which predominantly provide career-focused degree programs of study in fields involving technology to approximately 37,000 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 175,000 students, including 90,000 in the last decade. ITT/ESI shares are traded on the New York Stock Exchange under the symbol “ESI.”
Western International University (WIU) was founded in 1978 as a private, non-profit institution and regionally accredited in 1980. In 1995, WIU was acquired by Apollo Group, Inc. and became a for-profit subsidiary of the leading educational corporation in the United States. The University’s mission is to provide a broad educational foundation, including a focus on business and technology, designed to prepare students for leadership positions in a dynamic, global marketplace. For additional information, go to the university’s website, http://www.wintu.edu.
Founded in 1994, CIBT School of Business, a subsidiary of Capital Alliance Group Inc (TSX.V- CPT), is a recognized business school in Beijing, China. CIBT operates three campuses in Beijing and three learning centres 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. 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.
President and C.E.O
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR 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.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.