China Education Resources signs milestone agreement with China's Ministry of Education
31 May 2005
China Education Resources Inc., (TSX-V: CHN - News) a developer and distributor of education services and products, announced today that its subsidiary, Today's Teachers Technology and Culture Ltd. (TTTC), has signed an agreement with the Curriculum Development Center (CDC) of the Central Government's Ministry of Education to accelerate China's basic education reform.
TTTC has granted the Central Government naming rights on its education resources platform allowing the home page of the platform to be labelled "Curriculum Development Center of the Ministry of Education (MOE), China Education Resources & Services Platform." The Company believes the endorsement from the Central level of the Ministry of Education will greatly increase Provincial interest in the education platform, and provide a high degree of comfort regarding the integrity of the content accessible from the portal. The agreement provides for TTTC to pay an annual guideline fee of 1,500,000 RMB ($240,000 CDN) to the Ministry of Education for a period of 5 years. Representatives of the Ministry of Education will assist TTTC in developing content for the platform.
"We are extremely pleased with this latest development," said Ronald Shon, President, China Education Resources. "The interest level in our platform continues to increase and we see this agreement with the Central Government's Ministry of Education as a significant validation of our online, interactive education resource platform. The clear association with the Central Ministry of Education is also a compelling endorsement for China's Provinces to have the confidence to adopt this important education resource."
The success of the first education platform, launched in Hainan Province, has been followed very closely by the MOE and has culminated in the milestone agreement. This agreement is expected to greatly facilitate and accelerate the Company's stated objective of contracting with the various Provincial education authorities and of creating specialized websites in key subject areas. The MOE is convening a national conference in Hainan Province in early June to specifically discuss the platform and its importance to the education reform. A number of selected provinces will be invited to send key people in the education reform area.
The MOE has also committed to showcasing China Education Resource's online education platform through a nationally broadcast television program focused on highlighting the education reform process in China. In particular, the media coverage will underscore the success of CHN's online platform within Hainan province as a model method for implementing curriculum reform on a national scale, in an efficient and cost effective manner.
The central government has been implementing policy reform to change the education system from one of rote, or memory learning to a more individualized, creative approach. As a result of these changes, which were initiated in 2000, the China Education Resources created an internet-based web portal that provides access for students, teachers, and parents to the latest teaching resources, based on approved content from government education agencies.
"This agreement clearly sets China Education Resources ahead of any other electronic education information portals available or being developed today," continued Shon. "We believe our association with the Ministry of Education will attract the best and brightest in the education field that will want to provide content and otherwise further enhance the portal itself."
In July, 2004 the Company announced an agreement with the Hainan Province Education Department to develop a highly interactive and comprehensive website to act as an exchange for all electronic content developed or approved by Hainan's education ministry. The platform satisfies a genuine market need in that it delivers relevant educational content in a cost effective manner and equally important, it has the support of the central government which believes the platform provides a solution to the logistical problem of efficiently disseminating information to the 240 million students and 10 million teachers in China.
About China Education Resources Inc.
China Education Resources Inc. is a Canadian-based company focused on providing educational solutions to China's education market. As a leading distributor of hardcopy text books and other related educational materials, the Company has developed an internet-based educational resource platform to facilitate China's new education initiatives.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of the contents of this press
release.
For further information
Ronald Shon, President, China Education Resources Inc., (604) 683-6865 tel, (604) 681-5636 fax, admin@chinaeducaitonresources.com
David DeJong or Jay Hussey, Investor Relations, The Equicom Group Inc., (416) 815-0700 tel, (416) 815-0080 fax, ddejong@equicomgroup.com
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Source: China Education Resources Inc.
Source: CNW Group
All trademarks and copyrighted information contained herein are the property of their respective owners.
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