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“According to Chinese government estimates, over 250 million workers from rural China are gradually migrating to the coastal and urban cities of China in search of better paying jobs to improve their standard of living. These workers will require extensive vocational re-training or career enhancing skills in order to secure better paying jobs in China’s modern and rapidly advancing economy. With 104 years of operating experience and over 140 additional career, vocational and degree granting programs available to us, this expansive network of supporting infrastructure, teaching resources, knowledge and experience provided in this transaction with Sprott-Shaw Community College adds tremendous value to CIBT Schools in China and our overall business.”

“We are excited about our future and the prospects ahead of us,” commented Dean Dupperon, President and CEO of Sprott-Shaw Community College. “SSCC has earned an excellent reputation and a long standing history in the Canadian education market for over a century. The combination of SSCC and CIBT will transform our two organizations into a global education player immediately. Our management team has extensive knowledge and experience operating a vast network of schools. Supported by CIBT’s financial infrastructure and their experience in the public equities market, the combined synergies will enhance our existing operation and allow us to expand our Canadian presence while supporting CIBT’s global expansion efforts.”

As a result of the acquisition, CIBT Education Group will have a total of 38 delivery locations globally employing over 400 full and part time employees, a student population of 7,500 and combined revenues of approximately $42 million.

“We are excited about our future and the prospects ahead of us,” commented Dean Dupperon, President and CEO of Sprott-Shaw Community College. “SSCC has earned an excellent reputation and a long standing history in the Canadian education market for over a century. The combination of SSCC and CIBT will transform our two organizations into a global education player immediately.

“The closing of this transaction marks a significant turning point for both our organizations and we are excited about this partnership between CIBT and SSCC,” commented Toby Chu, Vice Chairman, President and CEO of CIBT Education Group Inc.