COVENANT G (OTC:CVGC)

On January 31, 2010, Covenant Group of China Inc. entered into an Equity Credit Agreement with an institutional investor providing the Company with the right, but not the obligation, to issue shares of its common stock at any time and from time to time during the next two years for gross proceeds of up to $20,000,000. The Company also agreed to issue to the Investor warrants to purchase an additional 300,000 shares of its common stock during a five year period at an exercise price of $2.00 per share. The Company also entered into a Registration Rights Agreement as part of the transaction.

Source: 8K February 4, 2010

On December 24, 2009, Everest Resources Corp., a Nevada corporation, entered into and consummated a series of agreements which resulted in the acquisition of all of the share capital of Covenant Group Holdings Inc., a holding company incorporated under the laws of the state of Delaware and the divestiture of the Company's prior exploration business. On the Closing Date, the name of the Company was also changed to Covenant Group of China Inc.

Covenant Group of China Snap Shot:

We are a holding company engaged in the business of acquiring equity interests in private companies based and operating in China.Currently, our portfolio consists of two subsidiaries that are actively engaged in various segments of the IT sector.

As a requirement to listing the Company's common stock on the NASDAQ Capital Market or other exchange, the Company will seek to add additional independent directors and increase the size of the board of directors following the Share Exchange

Post Merger Share Calculation:

• 6,600,000 :Pre reverse merger outstanding shares  
• 4,500,000: Shares cancelled as part of the Share Exchange
• 500,000: Shares held in escrow for future cancellation
• 9,380,909: Newly issued shares of Common Stock

As a result of the consummation of the Transactions there are currently 11,480,909 shares of the Company's common stock issued and outstanding. Upon the cancellation of the 500,000 shares held by Mr. Sidhu which are to be surrendered upon payment of the Promissory Note, there will be 10,980,909 shares of the Company's common stock issued and outstanding, approximately 85.4% of which will be held by the former Covenant Holdings Shareholders. The shareholders of the Company immediately prior to the completion of these transactions will hold the remaining 14.6% of the issued and outstanding shares of the Company.