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New Oriental Issues Statement in Response to Name Confusion
BEIJING, Nov. 29 /Xinhua-PRNewswire/ -- New Oriental Education and Technology Group Inc. (NYSE: EDU), the largest provider of private educational services in China, today issued a statement to clarify some market confusion between the name of the Company and the privately held Oriental Standard.
"To be clear, New Oriental has no affiliation with Oriental Standard, which recently announced that it has raised a round of venture capital financing," said New Oriental's Chairman and Chief Executive Officer Mr. Michael Yu. Mr. Yu noted that Oriental Standard was spun off from New Oriental Education and Technology Group in 2005.
About New Oriental
New Oriental is the largest provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, test preparation courses for major admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education. New Oriental's ADSs, each of which represents four common shares, currently trade on the New York Stock Exchange under the symbol "EDU."
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about New Oriental's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Information regarding these risks and uncertainties is included in our registration statement on Form F-1 and other documents filed with the Securities and Exchange Commission. New Oriental does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of November 29, 2006, and New Oriental undertakes no duty to update such information, except as required under applicable law.
For more information, please contact: In China: Ms. Sisi Zhao New Oriental Education and Technology Group Inc. Tel: +86-10-6260-5566 x8203 Email: firstname.lastname@example.org Mr. Rory Macpherson Ogilvy Public Relations Worldwide Tel: +86-10-8520-6553 Email: email@example.com In the United States: Mr. Thomas Smith Ogilvy Public Relations Worldwide Tel: +1-212-880-5269 Email: firstname.lastname@example.org
SOURCE New Oriental Education and Technology Group Inc. -0- 11/29/2006 /CONTACT: In China - Ms. Sisi Zhao of New Oriental Education and Technology Group Inc., +86-10-6260-5566 x8203, or email@example.com; or Mr. Rory Macpherson of Ogilvy Public Relations Worldwide, +86-10-8520-6553, or firstname.lastname@example.org; In the United States - Mr. Thomas Smith of Ogilvy Public Relations Worldwide, +1-212-880-5269, or email@example.com / (EDU) CO: New Oriental Education and Technology Group Inc.; Oriental Standard ST: China IN: EDU FIN PUB HED SU: ASI MM -- CNW017 -- 8049 11/29/2006 08:00 EST http://www.prnewswire.com