China Education Alliance (PINK:CEU)

HARBIN, China, June 1, 2011 /PRNewswire-Asia/ -- China Education Alliance, Inc. ("China Education Alliance" or the "Company") (NYSE: CEU), a China-based education resource and services company, today announced that the company successfully acquired Noah International Education Group (or "Noah International"), the largest multi-language learning institute in Northern China offering courses of English, Japanese, Korean, Russian, German, French, Spanish, Italian, Arabic, etc. in Northern China, for RMB 16 million in cash.

Currently, Noah International serves a student body of roughly 1,000 students with its two training centers in Harbin and Changchun, and generates annual revenue of RMB 10 million and net profit of RMB 3 million. There are courses designed for Junior college students, part time, summer and winter classes as well as VIP one-on-one classes, catering to the mass population. Noah runs a successful and effective system for teaching foreign languages to white-collars and foreign language enthusiasts.

As a result of the rapid economic growth in China, every year there are about a million Chinese students that leave China to go study abroad and seek further study to overcome language barriers. China's foreign trade expansion increases the demand for people with multi-lingual skills. With an increasing number of foreigners visiting and living in China each year, it is increasingly important for the locals to master various foreign languages. Given the small number of multi-language education institutes in China, Noah's long term goal is to maintain its leadership position in the market.

Mr. Yu, CEO of China Education Alliance, commented, "The acquisition of Noah International Education Group is a new attempt by China Education Alliance to integrate a variety of quality educational resources. This should help enhance our brand name. In addition, Noah's students can enroll in the other courses that China Education Alliance provides and grow our customer base. After the acquisition we will maintain the existing business model and expand Noah's business by leveraging CEU's wide range of educational resources. We believe this will have a positive impact on CEU's performance going forward".