updated 1/7/2011 7:16:51 AM ET 2011-01-07T12:16:51

TAIYUAN CITY, China, Jan. 7, 2011 (GLOBE NEWSWIRE) -- China Bilingual Technology & Education Group, Inc. (OTCBB:CBLY) ("China Bilingual" or the "Company"), an education company that owns and operates high-quality, K-12 private boarding schools in China, announced today that it has appointed Ms. Dora Dong, Dr. Jun Zhang, and Ms. Ying Fengmei as independent members of its board of directors. In addition, Mr. Zhao Hegui resigned as a member of the board. There was no disagreement or dispute between the Company and Zhao Hegui that led to his resignation from the board of directors, and he will continue to serve as Executive Vice President of the Company.

Ms. Dora Dong is an entrepreneur and business leader who works to promote trade and commerce between the U.S. and China. Since July 2008, Ms. Dong has served as the Vice President of the Silicon Valley Chinese American Computer and Commerce Association, served as its CFO from July 2006 to July 2008, and has been a member of the board of directors since July 2000. Additionally, Ms. Dong has served as a committee member of Su Zhou Overseas Chinese Association since May 2010 and was appointed to such position by the Su Zhou City Government. From May 2009 to the present, Ms. Dong has served as the President of New Continental - USA in Silicon Valley. From September 2009 to the present, Ms. Dong has served as the Chairman of Su Zhou New Continental Education Consulting Company Ltd. in China. Ms. Dong received her Bachelor of Science Degree in Business Administration from John F. Kennedy University in 1990.

Dr. Jun Zhang is a well-recognized academic and research leader. Since 2002, Dr. Zhang has been a research investigator at Abbott Laboratories. His original research work in the field of pharmaceuticals has been cited as breakthroughs by academic journals and industry media outlets. Dr. Zhang received his PhD from the University of New Mexico in 2001. Dr. Zhang holds two U.S. patents, has published more than 30 peer-reviewed research articles, acts as an editorial board member of two international journals, and reviews research articles for more than 20 international publications. Dr. Zhang is frequently invited to chair and speak at international conferences and is an advisor for the World Academy of Developing Countries.

Ms. Ying Fengmei is a certified economist and finance professional who has worked as an independent business planning and financial operations consultant to China-based companies since 2003. From 1993 to 2003, Ms. Ying served as the General Manager of the Shanghai Foreign Economic Corporation, and from 1987 to 1993 she served as the Vice Plant Manager of the Shanghai Yuzhou Electric Tool Plant. Ms. Ying is a 1986 business school graduate from Shanghai Jiao Tong University, one of China's oldest and most prestigious universities.

About China Bilingual Technology & Education Group, Inc.

China Bilingual Technology and Education Group, Inc. is an education company that owns and operates high-quality, K-12 private boarding schools in China. Founded in 1998, the Company currently operates two schools encompassing the kindergarten, elementary, middle and high school levels with approximately 10,000 students and 1,500 faculty and staff.

The Company's schools are located in Shanxi and Sichuan Provinces and provide students with an innovative and high-quality education with a focus on fluency and cultural skills in both Chinese and English. The schools regularly rank among the top schools in their respective regions for college entrance rates and national college entrance exam scores. The Company's schools have earned excellent teaching reputations and are recognized for the success of their students and strong faculty.

As China experiences rapid industrialization and economic growth, the government is focused on education as a means to increase worker productivity and raise the standard of living. Parents in China's new middle and upper classes are sending their children to receive private school education to give them an advantage in China's increasingly competitive workforce. The Company's sector in education is not subject to corporate income tax, and the Company anticipates its growth will come from both organic growth through increased enrollment and expansion of its business model and teaching methods into new schools to be acquired by the Company.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. For additional information, readers should carefully review reports or documents the Company files periodically with the Securities and Exchange Commission.

CONTACT: At the Company:
         Michael Toups, Chief Financial Officer
         U.S. Office +1 727-641-1357
         miketoups@gmail.com
         
         Investor Relations:
         Dave Gentry, President
         RedChip Companies, Inc.
         Tel: +1-800-733-2447, Ext. 104
         Email: info@redchip.com
         
         Jing Zhang, Chief Representative
         RedChip Companies Beijing Office
         Tel: +86 10-8591-0635
         Web: http://www.RedChip.com

© 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 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com