BEIJING, Dec. 22, 2010 /PRNewswire-Asia-FirstCall/ -- China Distance Education Holdings Limited (NYSE: DL) ("CDEL" or the "Company"), a leading provider of online education in China focusing on professional education, today announced that it has signed three new contracts relating to its business start-up training program offering. First, the Company has signed an agreement with the Shanghai government authority to provide consulting services to assist the city in the building of a business start-up training platform. The scope of the services includes overall platform design, operations management scheme design, system integration and other relevant technology consulting services. The Company will receive a fixed payment from the government authority upon successful completion of the various stages of the platform building project. The Company has also obtained approval to offer business start-up training courses in Suzhou, and has signed a multi-year exclusive contract with the Suzhou government authority to offer the courses. And finally, the Company has entered into a sales and purchase agreement with the Shaoguan government authority after winning the local government's open tender, to provide CDEL's proprietary business start-up training systems, supplementary products and technology support.
The Company's business start-up training offering targets university students, job seekers and individuals who are interested in learning to found new businesses. The program leverages the concept and training framework of an international organization called Europen/Pen International, and allows students to set up their own practice companies and participate in virtual business dealings with other practice companies from both inside China and around the world.
Mr. Zhengdong Zhu, Chairman and CEO of CDEL commented, "We are pleased to announce the continued expansion of our Yucai business start-up training program with these new agreements signed in Shanghai, Suzhou and Shaoguan, in addition to the healthy cash collections we have received this quarter for training programs conducted in the prior year. These newly signed contracts represent significant market opportunities for CDEL and once again demonstrate the positive momentum building behind our business start-up training program, strong execution capability of the new management team, and the ability to adapt and structure the offering to suit a variety of needs and maximize business development opportunities. Given the enormous market opportunity in the field, and the fact that we have now established a healthy training and cash collection cycle with the cash collections we have received this quarter, we are confident in the potential of this segment and will continue to further expand this promising program to a wider geographic reach in a prudent manner."
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. The courses offered by the Company through its websites are designed to help professionals and other course participants obtain and maintain the skills, licenses and certifications necessary to pursue careers in China in the areas of accounting, law, healthcare, construction engineering, information technology and other industries. The Company also offers online test preparation courses to self-taught learners pursuing higher education diplomas or degrees and to secondary school and college students preparing for various academic and entrance exams. In addition, the Company offers online foreign language courses, offline GaoKao retake courses and offline business start-up training courses. For further information please visit http://ir.cdeledu.com.
China Distance Education Holdings Limited
Lingling Kong, Investor Relations Manager
Tel: +86-10-8231-9999 x1805
Investor Relations (HK):
Ruby Yim, Managing Director
Investor Relations (US):
Mahmoud Siddig, Director
Tel: +1 (212)889-4350
SOURCE China Distance Education Holdings Limited