Ambow Education Holding Ltd. Announces Strategic Cooperation with Bank of Beijing
BEIJING, June 7, 2013 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company" NYSE: AMBO), a leading national provider of educational and career enhancement services in China, today announced that, on June 7, 2013, Beijing Ambow Online Software Co., Ltd., ("Ambow Online"), the Company's wholly owned subsidiary in China, entered into a strategic cooperation agreement (the "Strategic Cooperation Agreement") with Bank of Beijing, Weigongcun Branch, ("BOB"). Pursuant to the Strategic Cooperation Agreement, subject to entering into specific agreements, BOB plans to provide Ambow Online and its affiliates with comprehensive finance services, including providing credit line, financing service, financial consulting service, settlement service, cash management service and wealth management service. The initial term of the Strategic Cooperation Agreement is one year and shall be automatically renewed for successive one-year terms unless terminated by either party by providing 30 days' written notice prior to expiry.
About Ambow Education Holding Ltd.
Ambow Education Holding Ltd. (NYSE: AMBO) is a leading national provider of educational and career enhancement services in China, offering high-quality, individualized services and products. Ambow has two business divisions: "Better Schools," which includes K-12 schools and tutoring centers; and "Better Jobs," which includes colleges and career enhancement centers. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in 30 out of the 31 provinces and autonomous regions within China.
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Ms. Annie Wang
Ambow Education Holding Ltd.
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