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BEIJING, Jan 6, 2010 (GlobeNewswire via COMTEX News Network) -- ChinaCast Education Corporation ("ChinaCast" or the "Company") (Nasdaq:CAST), today announced that the NASDAQ Stock Market has upgraded the listing of the Company's common stock to the NASDAQ Global Select Market ("Global Select Market") effective January 4, 2010, and continues to trade under the ticker symbol "CAST."
The NASDAQ Global Select Market, the top tier listing category at NASDAQ, recognizes the highest financial listing standards in the world, with measures including earnings, liquidity and market value. Qualifying for the NASDAQ Global Select Market is a mark of achievement, leadership, credibility, and high ethical standards for companies.
"We are pleased to have met the elite qualifications for inclusion in the NASDAQ Global Select Market, which enhances the message to investors that ChinaCast conforms to the highest international financial compliance and corporate governance listing standards," stated Ron Chan, Chairman and CEO. "We look forward to increasing our visibility in the capital markets, broadening our shareholder base and further building confidence among stakeholders as we continue to execute our strategic growth plan in the PRC for-profit education sector."
About ChinaCast Education Corporation
Established in 1999, ChinaCast Education Corporation is a leading for-profit, post-secondary education and e-Learning services provider in China. The Company provides post-secondary degree and diploma programs through its two universities in China: The Foreign Trade and Business College of Chongqing Normal University and the Lijiang College of Guangxi Normal University. These universities offer fully accredited, career-oriented bachelor's degree and diploma programs in business, economics, law, IT/computer engineering, hospitality and tourism management, advertising, language studies, art and music. The Company provides its e-Learning services to post-secondary institutions, K-12 schools, government agencies and corporate enterprises via its nationwide satellite/fiber broadband network. These services include interactive distance learning applications, multimedia education content delivery, English language training and vocational training courses. The Company is listed on NASDAQ Global Select Market with the ticker symbol CAST.
Safe Harbor Statement
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management's plans and objectives, future contracts, and forecasts of trends and other matters. These projections, expectations and trends are dependent on certain risks and uncertainties including such factors, among others, as growth in demand for education services, smooth and timely implementation of new training centers and other risk factors listed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate," "estimate," "expect," "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: ChinaCast Education Corporation
CONTACT: HC International Ted Haberfield, Executive Vice President +1-760-755-2716 thaberfield@hcinternational.net
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