updated 10/20/2010 9:16:08 AM ET 2010-10-20T13:16:08

HONG KONG, Oct. 20, 2010 (GLOBE NEWSWIRE) -- The Language Key group of companies, consisting of The Language Key Training Ltd. and its affiliate, The Language Key China Ltd. (collectively, "Language Key"), providers of business English and communication skills training and party to a pending acquisition by Mount Knowledge Holdings, Inc. (OTCBB:MKHD), today announced that it has signed training agreements with five new and current customers to deliver Language Key learning programs. Language Key will design and deliver customized programs, ranging from executive coaching to English language communication and writing skills courses, to help train company staff members.

The Language Key customers are:

-- The Civil Service Training & Development Institute (CSTDI)

  • Deliver a series of writing skills courses for CSDTI as well as various HKSAR Government departments in Hong Kong

-- The Export-Import Bank of China

  • Provide "One-on-One" English Language Training to members of the Bank's executive staff

-- PCCW Limited

  • Deliver communication skills courses for call center teams in Hong Kong and Guangzhou

-- The Wallem Group

  • Deliver executive coaching programs for selected staff in the Wallem Group's Hong Kong headquarters

-- Steelcase Inc.

  • Conduct Business English Language training for staff in their Beijing, Shanghai, Guangzhou, and Hong Kong offices

"We are honored to have the opportunity to partner with or continue building on our strong relationship with such great companies," commented Dirk Haddow, CEO of Language Key. "Language Key is committed to providing its customers with a robust offering that adds real value. Each new partner and repeat client that chooses Language Key for its training needs is a testament to our customer commitment and puts us another step forward in our plans to grow the company."

Executed Definitive Agreement – Mount Knowledge Holdings, Inc.

As disclosed in its Current Report on Form 8-K filed with the United States Securities and Exchange Commission (the "SEC") on October 8, 2010, on October 5, 2010, Mount Knowledge Holdings, Inc. (OTCBB:MKHD) executed a definitive agreement to acquire The Language Key group of companies, a well-established business English and communication skills training organization based in Asia. Upon the completion of the purchase, Mount Knowledge Holdings, Inc. will own the assets of Language Key Asia Ltd, a to be formed parent entity, and its operational subsidiaries, making the entities wholly-owned and operated subsidiaries of Mount Knowledge Holdings, Inc., pursuant to a parent-subsidiary Language Key restructuring plan. The closing is scheduled to occur on or before October 31, 2010 upon completion of all required actions, including the completion of consolidated and audited financial statements of Language Key to coincide with Mount Knowledge Holdings, Inc.'s fiscal year end of October 31, 2010.

About Language Key

The Language Key Training Ltd., along with its affiliate, The Language Key China Ltd. (collectively, "Language Key"), is a leading provider of Corporate Training Solutions in Greater China, with operations in Hong Kong, Shanghai, Beijing, and Shenzhen. The Language Key provides generic and tailored Business English and Communication Skills courses, Soft Skills workshops, Executive Coaching and other related services to public and private sector clients, including government entities in Hong Kong and Mainland China and Fortune 500 corporations. 

About Mount Knowledge Holdings Inc.

Mount Knowledge Holdings, Inc. (OTCBB:MKHD) is an educational software development, sales and training company offering innovative and proprietary "real-time self learning" software products and teaching services for both corporate and direct consumer markets worldwide. The Company's technology stems from an interactive and visual learning system referred to as Syntality(TM), integrated into a core application known as The Knowledge Generatorä and is currently being offered in China to the more than 300 million students from grade school to university seeking to learn English, and a vast number of people in the Chinese workplace increasing their English fluency to achieve greater income earning potential.

About CSTDI

The Civil Service Training and Development Institute formulates training policies and provides support to bureaus and departments in training and development matters. Its four core functions are: senior executive development; national studies programs; consultancy services for departments on human resource management (HRM) initiatives; and promotion of a continuous learning culture in the civil service.

About the Export-Import Bank of China

The Export-Import Bank of China (China Eximbank) is a government policy bank which is acting as a key channel of financing policy for both Chinese importers and exporters of mechanical and electronics products, complete sets of equipment, and high and new-tech products. China Eximbank also advises on policies for the undertaking of offshore construction contracts and overseas investment projects by Chinese companies. It was founded in 1994, and is enjoying the same international credit ratings as China's sovereign ratings.

About PCCW-HKT

PCCW Limited (HKSE:0008) is the holding company of HKT Group Holdings Limited ("HKT"), Hong Kong's premier telecommunications provider and a world-class player in information and communications technologies. PCCW also holds a majority interest in Pacific Century Premium Developments Limited and overseas investments including the wholly-owned UK Broadband Limited. As the provider of Hong Kong's first quadruple-play experience, PCCW/HKT offers a range of innovative media content and services across four platforms -- fixed-line, broadband Internet access, TV and mobile. In addition, the Group meets the sophisticated needs of local and international business communities, while supporting network operators with cutting-edge technical services and handling large-scale IT outsourcing projects for public and private sector organizations. To learn more about PCCW and HKT, please visit www.pccw.com .

About The Wallem Group

Headquartered in Hong Kong, The Wallem Group's main activities include shipping management, shipping agency, ship brokering and IT services. 

About Steelcase Inc.

Steelcase Inc.'s brands offer a comprehensive portfolio of workplace furnishings, products and services, inspired by nearly 100 years of insight gained serving the world's leading organizations. They are globally accessible through a network of channels, including over 650 dealers. They design for social, economic, and environmental sustainability. Steelcase is a global, publicly traded company leading the industry with fiscal 2010 revenue of approximately $2.3 billion.

Forward-Looking Statement Safe Harbor:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include our ability to: attract customers; successfully implement our current long-term growth strategy; as well as product demand, market competition, fluctuations in advertising payouts, reliance on credit card processors and related necessary merchant account approvals, delays in website & application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov .

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
13.79%
Cash Back Cards 17.80%
17.78%
Rewards Cards 17.18%
17.17%
Source: Bankrate.com