TAL Education Group Announces Pricing of Initial Public Offering on the New York Stock Exchange

Oct 19, 2010, 23:30 ET from TAL Education Group

BEIJING, Oct. 19 /PRNewswire-Asia-FirstCall/ -- TAL Education Group ("TAL" or the "Company") (NYSE: XRS), a leading K-12 after-school tutoring service provider in China, today announced that it has priced its initial public offering of 12,000,000 American Depositary Shares ("ADSs") at $10.00 per ADS. The ADSs, each representing two Class A common shares of the Company, will begin trading on Wednesday, October 20, 2010 on the New York Stock Exchange under the symbol "XRS."

The underwriters have an option to purchase up to an aggregate of 1,800,000 additional ADSs from TAL at the initial public offering price less underwriting discounts and commissions, within 30 days from the date of the final prospectus.

Credit Suisse and Morgan Stanley acted as joint book runners for this offering, and Piper Jaffray and Oppenheimer & Co. acted as co-managers for the offering.

TAL's registration statement relating to the securities has been declared effective on October 19, 2010 by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, New York, NY 10010; phone +1-800-221-1037; or by contacting Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York, 10014; phone: 1 (866) 718-1649, or by e-mailing prospectus@morganstanley.com.

About TAL Education Group

TAL Education Group, which operates under the brand Xueersi, is a leading K-12 after-school tutoring service provider in China associated with high teaching quality and outstanding student academic performance. Its tutoring services cover the core subjects in China's school curriculum, including mathematics, English, Chinese, physics, chemistry and biology, and are delivered through three formats: small class, one-on-one personalized premium services and online courses. The Company's network includes 109 physical learning centers and its online platform, which hosts China's largest online education community as measured by unique visitors. The Company's ADSs trade on the New York Stock Exchange under the symbol "XRS."

    For further information, please contact:

     Roger Hu
     Investor Relations Manager
     TAL Education Group
     Tel:   +86-10-5292-6669
     Email: rogerhu@xueersi.com

SOURCE TAL Education Group