updated 12/9/2010 5:46:09 PM ET 2010-12-09T22:46:09

NEW YORK, Dec. 9, 2010 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of China Education Alliance, Inc. ("China Education Alliance" or the "Company") (NYSE:CEU) during the period from March 31, 2009 – November 29, 2010 (the "Class Period"). Such investors are advised to contact Fei-Lu Qian at 888-476-6529 or flqian@pomlaw.com.

China Education Alliance offers educational resources and training through its internet websites and training facilities in China. The investigation concerns whether the Company improperly reported $24.9 million in revenue in its 2008 annual report, filed with the Securities and Exchange Commission, contradicting a report that the Company's main operating subsidiary filed with the Chinese authorities, which revealed less than $1 million in revenue.

On November 29, 2010, Kerrisdale Capital published a 30-page analyst report citing evidence that China Education Alliance has been overstating its financials and called the Company "mostly a hoax." In response to this news, China Education Alliance shares fell $1.48 or more than 33 percent.

The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .

CONTACT: Pomerantz Haudek Grossman & Gross LLP
         Fei-Lu Qian
         888-476-6529 (ext. 241)

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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