BEIJING, PRC, April 7, 2011¨C 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 two new contracts relating to its business start-up training program offering. First, the Company has signed a multi-year exclusive agreement with the Shaoxing government authority to provide comprehensive start-up training services including the development of a business start-up training platform, system maintenance and training services. The Company has also entered into a sales and purchase agreement with the Geermu government authority to provide CDEL's proprietary business start-up training systems with customized design and functionality, and related 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, ¡°The newly signed agreements are perfect examples of the two approaches we have taken to expand this business segment, namely by providing comprehensive services including platform development and ongoing training services, and a pure systems-based service offering. We believe these two approaches are well designed to satisfy a broad spectrum of market demand, allowing us to capitalize on the significant growth opportunities in this market. As we begin to see a return on the investments we have made in recent quarters in this segment, we continue to gain more confidence in the long term potential of this market. We believe the continued expansion of this high quality program to a wider geographic reach will generate improving financial results and will create long term value for our shareholders.¡±