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CONTACT INFO .................................................................................................................................... 3
MANAGEMENT .................................................................................................................................... 3
BOARD OF DIRECTORS ......................................................................................................................... 3
CHINACAST’S STRATEGIC VISION ......................................................................................................... 4
ABOUT CHINACAST .............................................................................................................................. 4
INVESTMENT HIGHLIGHTS ................................................................................................................... 5
Summary ................................................................................................................................................... 5
Select Financials as of 2009 ...................................................................................................................... 6
China Education Market Opportunity ....................................................................................................... 5
Growth Strategies ..................................................................................................................................... 6
Revenue Breakdown ................................................................................................................................. 6
E-Learning Services Breakdown as of 2007 .............................................................................................. 6
Stock Performance as of April 8, 2010 ...................................................................................................... 7
Historic Stock Lookup ................................................................................................................................ 8
Competition .............................................................................................................................................. 8
APPENDIX............................................................................................................................................ 9
MANAGEMENT.......................................................................................................................................... 9
BOARD OF DIRECTORS ............................................................................................................................ 10
CONTACT BOARD .................................................................................................................................... 12
PRESS RELEASES OF INTEREST ................................................................................................................ 12
SUMMARY COMPANY OVERVIEW AS PRESENTED TO WILLIAM BLAIR IN 2008 ..................................... 16
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 2 of 19

ChinaCast Education Corporation
15F Reignwood Centre,
No. 8 Yong An Dong Li,
Jianguomenwai Avenue,
Beijing, China
Tel: 86-10-65667788 www.chinacasteducation.com
Company Contact:
Michael J. Santos,
President-International
US Tel: 1-347-788-0030 mjsantos@chinacasteducation.com
Investor Relations:
Ted Haberfield, EVP
HC International, Inc.
Tel: +1-760-755-2716 thaberfield@hcinternational.net
(for detailed information on each member proceed to Management )
 Ron Chan Tze Ngon, Chairman and Chief Executive Officer
 Michael J. Santos, President – International
 Li Wei, Chief Operating Officer
 Antonio Sena, Chief Financial Officer
 Jim Ma, Chief Accounting Officer
 Xiang Yuan Jiang, Chief Investment Officer
 Donald Gardner, Director of International Academic Affairs
 Liu Baoqian, Vice President, Education Sales and Marketing
(for detailed information on each member proceed to Board of Directors )
 Ron Chan Tze Ngon, Chairman and Chief Executive Officer
 Michael J. Santos, President – International
 Justin Tang, Non-Executive Director
 Daniel Tseung Kar Keung, Non-Executive Director
 Ned Sherwood, Non-Executive Director
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 3 of 19

To be the leading for-profit, post-secondary education company in China that provides both physical campuses and a comprehensive online learning platform to address the high demand for university graduates with career skills and adult continuing education
Established in 1999 and incorporated on August 20, 2003, ChinaCast Education Corporation (CEC) is headquartered in Beijing and has about 1,200 employees. CEC is an e-learning and training services provider in the Peoples Republic of China. The Company provides e-learning education services via its nationwide satellite broadband network and traditional bricks and mortar schools to post-secondary educational institutions, K-12 schools, government agencies and corporate enterprises. These services include interactive distance learning applications, multimedia education content delivery, vocational/career training courses and English language training through its Daily English Language training centers. The Company also offers bachelor and diploma programs to students in China. The
Company operates in two business segments: the E-learning and training service group (ELG) and the
Traditional University Group (TUG), offering bachelor and diploma programs to students in China. On
April 11, 2008, the Company completed the acquisition of 80% of Hai Lai Education Technology Limited
(Hai Lai), which holds 100% of Foreign Trade Business College of Chongqing Normal University (FTBC).
The ELG offers products and services to customers under three business lines: post secondary education distance learning services, K-12 educational services and vocational/career training services. The
Company enables universities and other higher learning institutions to provide nationwide real-time distance learning services. Its packages include all the hardware, software and broadband satellite network services necessary to allow university students located at remote classrooms to interactively participate in live lectures broadcasted from a main campus. As of December 31, 2008, CEC serviced 15 universities with over 128,000 students in over 300 remote classrooms.
CEC broadcasts multimedia educational content to 6,500 primary, middle and high schools throughout the People’s Republic of China in partnership with educational content companies and educational institutions. The educational content packages assist teachers in preparing and teaching course content.
Each school pays the Company a monthly subscription fee for this service and a one-time charge for equipment used to provide the service.
In partnership with various government departments and corporate enterprises, CEC has deployed several hundred training centers throughout the People’s Republic of China providing job-skills training to recent graduates, employees of state-owned enterprises and corporate employees. The Company’s vocational e-learning project for the Ministry of Labor and Social Security (MLSS) provides job skills training for recently laid off workers from state-owned enterprises. One of its corporate enterprise customers is Taikang Insurance, which uses the Company’s e-learning service to provide interactive corporate training to over 165,000 insurance agents throughout the People’s Republic of China. These enterprise customers buy the hardware and software, and pay a monthly service fee based on the number of sites and bandwidth used. CEC’s Daily English Language Training Centers provide spoken
English training to students, workers and government/corporate customers. The Company recruits students who pay for short-term to one-year language courses, which are delivered in its training centers by its foreign and local English teachers.
The TUG offers products and services to customers under university business line. FTBC is an independent, for-profit, private residential university affiliated with Chongqing Normal University. With
11,000 students, FTBC offers four-year bachelor’s degree and three-year diploma programs in finance, economics, trade, tourism, advertising, information technology, music and foreign languages, all of which are accredited by the Ministry of Education.
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 4 of 19

The Company competes with China Telecom, China Netcom, China Unicom, China Railcom, China
Satcom, China Orient, Guangdong Satellite Telecom, China Educational TV, ChinaEdu, Beida Online,
Ambow, China Education Alliance and China-Training.com.
High margin, recurring service income provides excellent visibility and strong free cash flow
 The education sector is one of the fastest growing consumer markets in China driven by increased consumer spending power and government deregulation. CAST has superior valuation metrics vs. other public comps
Valuable PRC operating licenses
 Ministry of Education (MOE) accredited four-year and two-year university degree programs
 Ministry of Information Industry (MII) nationwide satellite broadband ISP license
Seasoned multinational management team
 Extensive public company experience with US, PRC, Hong Kong and Singapore Exchanges, ability to complete deals
Sound growth strategy capitalizes on key market opportunities
 Strong demand and limited penetration rates of post-secondary sector provides significant long term growth potential
Near term catalysts
 Recently announced MOU to acquire an additional for-profit university in China. Deal was expected to be accretive and was targeted to be completed in 3Q 2009. Healthy balance sheet and cash flow to fund further acquisitions
Largest education system in the world in terms of students, teachers and schools
 China has 235 million students (USA has 64m students) and 550k schools (USA has 99k schools)
 600 million people are of prime education age (6-29 years old)
 750 million workers occupy the labor force with many needing training to upgrade their skill set
Strong post-secondary enrollment growth and limited penetration rates provides significant growth potential
 Only 5% of Chinese have a four-year, post-secondary degree versus 28% in the USA
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 5 of 19

 2002-2007 CAGR of PRC post-secondary enrollment is 23% versus 2% in the USA - 22 million were expected for 2008
 Average wage increase for workers in the PRC with a four-year, post-secondary degree is > 200%
 To build one of China’s first nationwide for-profit, post-secondary education companies that provides both physical campuses and a comprehensive online learning platform to address the high demand for career-oriented university degree programs
 To continue to rapidly grow its e-learning business and strategically acquire career-oriented, postsecondary education institutions. In the next two years, the company is targeting to have over 200,000 e-learning students and 30,000 on-campus students
 The company’s growth strategy is similar to US for-profit education business models
Fiscal Year Ends
Price (10/25/09)
Market Cap
Enterprise Value
52-Week Price Range
Fully Diluted Shares
Cash (6/30/09)
Net Cash/Share
1 Month Ave. Daily Vol.
Management Ownership
Legal
Auditor
NASDAQ : CAST
Dec. 31st
$7.96
$269.6 M
$187.1 M
$1.59 - $7.86
38.4 M
$94.0 M
$2.31
281 K
17.60%
Loeb & Loeb
Deloitte Touche
Research
Signal Hill; Roth Capital ;Global
Hunter; Brean Murray
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 6 of 19

ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 7 of 19

The Company is listed in Schools Industry in US, and there are some competitors from China in this particular industry, such as China Distance Education Holdings Ltd. (Public, NYSE:DL), China Education
Alliance, Inc. (Public, AMEX:CEU), and New Oriental Education & Tech. Group Inc (Public, NYSE:EDU).
CDE and CEA both provide online and distance education courses, so they have pretty similar target consumers with ChinaCast. On the other hand, ChinaCast Education Corp. (NASDAQ:CAST) owns its own advantage which is that it provides provision of satellite bandwidth and network access services in distance learning which is far more hardware industry. Furthermore, CDE and CEA trade at similar prices as ChinaCast.
Moreover, compared with EDU, ChinaCast Education Corp. (NASDAQ:CAST) still has long way to go. EDU is trading at around 87 dollars now, while ChinaCast just trades at 7 dollars.
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 8 of 19

Ron Chan Tze Ngon, Chairman and Chief Executive Officer
Mr. Chan was appointed Chief Executive Officer in 1999 at ChinaCast's inception. Mr. Chan previously worked as a sales executive in Sun Hung Kai (China) Limited from 1983 to 1985, and from 1985 to 1986 was sales manager for Unisys China Limited. From 1987 to 1988, he was strategic account manager for
Unisys Asia Limited, and thereafter joined Unisys Hong Kong Limited as a sales director until 1990. Mr.
Chan then joined CL Computer China/Hong Kong Limited as its general manager prior to founding
Technology Ventures Holdings, an information technology company currently listed on the Hong Kong
Stock Exchange. Mr. Chan holds a Master of Science, Mathematics and a Master of Computer Science degree, both from Concordia University, Montreal, Canada.
Michael J. Santos, President – International
Mr. Santos has overall responsibility for all international operations including global education and technology partnerships, external communications, fund raising and M&A. He previously worked with
Hughes Network Systems from 1988 to 2001, where he was Senior Director, Asia-Pacific, responsible for all sales, marketing, customer support and business development activities in the Asia-Pacific region and was a member of the Hughes deal team that lead the investment in ChinaCast's $17 million Series A venture capital financing round in October 2000. Mr. Santos holds a Bachelor of Science in Electrical
Engineering and Computer Science degree from The George Washington University, in Washington, D.C.
Li Wei, Chief Operating Officer
Prior to joining ChinaCast in 2001, Mr. Li was a business director for China Orient Satellite. From 1987 to
1995, Mr. Li served in the China Liberation Army as an auditor. From 1996 to 1999, Mr. Li was the
General Manager of Finance for China Venture Investment Co. Mr. Li holds a Bachelor's degree in
Finance and Accounting from the Wuhan Military & Economic College and a Master's degree in Business
Administration from the People's University.
Antonio Sena, Chief Financial Officer
Mr. Sena is an Australian Chartered Accountant and ran his own management consulting practice prior to joining ChinaCast in 2004. Before that, he was the Chief Financial Officer of Fujitsu PC Asia Pacific and worked with the Byron Richfield Group in Hong Kong as Finance Director. From 1985 to 1990, he was the General Manager of Imagineering Asia, a large Australian listed IT distributor. Mr. Sena holds a
Bachelor of Economics from the University of Sydney (Australia) and a Master of Commerce from the
University of New South Wales. He is a fellow of CPA Australia.
Jim Ma, Chief Accounting Officer
Mr. Ma joined the Group in 1999 and is responsible for managing the Company's financial processes, including financial reporting, fund raising, investor relations and other related corporate finance activities of the Group. Mr. Ma previously worked for Cambridge Neural Dynamics Ltd and for Lippo
Securities Limited as an associate director working on initial public offers and M&A projects. Mr. Ma holds a M.Phil (Finance) and M.A. (Engineering), both from Cambridge University (UK). He is also a
Chartered Financial Analyst.
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 9 of 19

Xiang Yuan Jiang, Chief Investment Officer
As Chief Investment Officer, Mr. Xiang Yuan Jiang will oversee all aspects of the Company's merger and acquisition strategies, including strategic business development, due diligence, deal negotiations and financing. Mr. Jiang joined ChinaCast in 2001 as Finance Director in the Company's Shanghai office and was promoted to Executive Vice President of Finance in 2005. Mr. Jiang holds a Bachelor of Arts degree from Shanghai Institute of Foreign Trade and a Master's in Business Administration degree from Macau
University of Science and Technology. From 1993 to 1994, Mr. Jiang completed the International
Business Management Program of the University of California at Los Angeles. He also currently serves as a Researcher for the Center of Chinese Business Studies at Fudan University in Shanghai and as an
Associate Researcher for the China National High Technology Industrialization Organization.
Donald Gardner, Director of International Academic Affairs
Dr. Donald Gardner, a global education industry veteran, will spearhead the overall development and operations of ChinaCast's international higher education division. This includes cultivating partnerships with international education institutions, developing student and teacher exchange programs and selecting key individuals to build out an effective international team. Prior to joining ChinaCast, Dr.
Gardner taught in a number of graduate schools and universities throughout Asia and the United States, including Hong Kong Baptist University, Hong Kong Baptist Theological Seminary, Asia Graduate
Theological Seminary, Malaysian Baptist Theological Seminary, Chung Yuan University, William Jewell
College and Dallas Baptist University. He has also served on a number of academic committees and in various administrative roles within the aforementioned schools. Dr. Gardner holds a Bachelor of Science
Degree from Dallas Baptist University, both Masters and Graduate Specialist Degrees from
Southwestern Theological Seminary in Fort Worth, Texas, and his Doctorate from Midwestern
Theological Seminary in Kansas City, Missouri.
Liu Baoqian, Vice President, Education Sales and Marketing
Mr. Liu is responsible for the operation and management of higher education projects, regulatory license applications and the development of new business ventures. He was the General Manager of
China Online's (Shenzhen Rayes Group Ltd) Telecom Division prior to joining the Group in 1999. Mr Liu was a lecturer at the Radio Physics Department at the Baoji Art and Science University and has a Master
Degree in Wireless Electronics & Physics from Xi'an Electronic Science and Technology University.
Ron Chan Tze Ngon, Chairman and Chief Executive Officer
Mr. Chan was appointed Chief Executive Officer in 1999 at ChinaCast's inception. Mr. Chan previously worked as a sales executive in Sun Hung Kai (China) Limited from 1983 to 1985, and from 1985 to 1986 was sales manager for Unisys China Limited. From 1987 to 1988, he was strategic account manager for
Unisys Asia Limited, and thereafter joined Unisys Hong Kong Limited as a sales director until 1990. Mr.
Chan then joined CL Computer China/Hong Kong Limited as its general manager prior to founding
Technology Ventures Holdings, an information technology company currently listed on the Hong Kong
Stock Exchange. Mr. Chan holds a Master of Science, Mathematics and a Master of Computer Science degree, both from Concordia University, Montreal, Canada.
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 10 of 19

Michael J. Santos, President - International
Mr. Santos has overall responsibility for all international operations including global education and technology partnerships, external communications, fund raising and M&A. He previously worked with
Hughes Network Systems from 1988 to 2001, where he was Senior Director, Asia-Pacific, responsible for all sales, marketing, customer support and business development activities in the Asia-Pacific region and was a member of the Hughes deal team that lead the investment in ChinaCast's $17 million Series A venture capital financing round in October 2000. Mr. Santos holds a Bachelor of Science in Electrical
Engineering and Computer Science degree from The George Washington University, in Washington, D.C.
Justin Tang, Non-Executive Director
Justin Tang is a co-founder of Blue Ridge China, a private equity fund formed in 2006 that invests in companies in China. Prior to that, Mr. Tang was the co-founder of eLong, Inc., a leading online travel service company in China. From 2001 to 2006, Mr. Tang served as Chairman and CEO of eLong and in similar key executive positions at its predecessor company from 1999 to 2001. Prior to founding eLong,
Mr. Tang held various positions in the financial services industry in the United States from 1993 to 1999.
Mr. Tang studied at Nanjing University in China and received his BS degree from Concordia College in the United States.
Member of the Audit Committee
Chair of the Nominating and Governance Committee
Member of the Compensation Committee
Daniel Tseung Kar Keung, Non-Executive Director
Daniel Tseung Kar Keung is currently the Managing Director of Sun Hung Kai Properties Direct
Investments Ltd., the private equity division of one of Asia's largest conglomerates, as well as Director of
Investments for SUNeVision Holdings Limited, an Asian internet infrastructure and services provider. He was previously a Director in the Technology & Communications Group of GE Equity, the private equity arm of GE Capital. Mr. Tseung is currently on the board of RCN and Owens Corning and previously held board positions at Telecommunications Systems, Inc., and Cellon. He holds a Bachelor's degree from
Princeton University and a Master's Degree from Harvard University.
Chair of the Audit Committee
Member of the Nominating and Governance Committee
Member of the Compensation Committee
Ned Sherwood, Non-Executive Director
Ned Sherwood co-founded ZS Fund L.P., a private equity firm, in 1985 and currently serves as its managing general partner. Mr. Sherwood joined W. R. Grace & Co. in 1975 as a vice president in the
Office of Strategic Projects, a group specializing in the evaluation and divestiture of various W. R. Grace
& Co.'s business units. In 1981, Mr. Sherwood joined AEA Investors, Inc., where he led a number of successful acquisitions until his departure to co-found ZS Fund L.P. Mr. Sherwood has served as a director on a number of public company boards, including Consolidated Stores Corporation (now Big
Lots, Inc.), Market Facts, Inc., Kaye Group, Inc., Colorado Prime, Inc., Southern Electronics, Inc., Mazel
Company; Niagara Frontier Services, Inc. (now Tops Markets) and Sun Television and Electronics, Inc.
Mr. Sherwood graduated magna cum laude from The Wharton School at the University of Pennsylvania where he received the Herbert T. Steuer Memorial Award for the Most Outstanding Wharton Student.
Mr. Sherwood serves as a director for a number of not-for-profit organizations, including I HAVE A
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 11 of 19

DREAM, the Dana Farber Hospital Advisory Board, the Stanford University Parents Advisory Board, City
Squash and the Columbia-Presbyterian Heart Research Institute.
Member of the Audit Committee
Member of the Nominating and Governance Committee
Chair of the Compensation Committee
You can contact ChinaCast Education Corporation's Board of Directors to provide comments, to report concerns, or to ask a question, at the following address.
Corporate Secretary
ChinaCast Education Corporation
Suite 08, 20F, One International Financial Center
No. 1 Harbour View Street
Central Hong Kong 636741
China
Tel: +852 3960 6506 Fax: +1 815 550 2954
Beijing Office:
Unit 1002, Golden Tower B2,
No.82 Dongsihuanzhong Rd, Chaoyang,
Beijing 100124.
Tel: +8610 8751 0988 Fax: +8610 8751 0788
You may submit your concern anonymously or confidentially by postal mail. You may also indicate whether you are a shareholder, customer, supplier, or other interested party.
ChinaCast Education Corporation Enters English Language Training Market in China
30 Apr 2007
Company's First Entry into the PRC Private Education Sector and $2 Billion English Training Market
Beijing, April 30, 2007 – ChinaCast Education Corporation (OTCBB: CEUC.OB), one of China's leading elearning services providers to educational institutions, government agencies and corporate enterprises, announced today that it has established a new wholly-owned subsidiary, ChinaCast Language Training
Education Technology Limited ("CLTET"), to provide English language training services in China.
CLTET has signed a definitive agreement to procure the exclusive right to use the "Modern English" brand name for their language training products and services. Under the agreement, ChinaCast shall have the exclusive right to use the logo "Modern English" for a period of 5 years with an option to extend for a further 5 years. The total value of the agreement is US$3 million.
Modern English was established in 1998 and is headquartered in Beijing. It had its own English training
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 12 of 19

TV program which was broadcast to over 100 TV channels in China from 1998 to 2005. Modern English is also a leading publisher of English language training materials such as books, PC software and
CD/VCD/DVDs. Over the years it has trained over 40,000 students.
CLTET will establish its own network of approximately 20 English training centers in multiple cities and provinces including Beijing, Shanghai, Hunan and Guangdong over the next 18 months. ChinaCast will also leverage its extensive partnerships with educational institutions, government agencies and corporate enterprises and its nationwide network of e-learning centers to scale up CLTET's training business throughout the country. Aside from adult conversational English training, CLTET also plans to offer English lessons for children, test preparation and other language training services in the future.
It is estimated that the total market for English training in China is valued at over US$2 billion and is expected to reach US$3.7 billion by 2010 according to the 2005-2006 China Education and Training
Industry Research Report. English communication skills are a key to career advancement of Chinese workers, especially with multinational corporations in China. Rapid growth in China's foreign direct investment and the hosting of world class events like the 2008 Olympics in Beijing and the 2010 World
Expo in Shanghai are also accelerating demand for English training.
Ron Chan, Chairman and CEO of ChinaCast, commented: "Modern English is one of the most recognized brand names for conversational English language training in China. We are very excited about the strong synergies between the Modern English brand with our nationwide e-learning network and the market potential of their extensive media assets such as their multimedia educational publications and TV programs. This is our first entry into the fast growing private education sector and will significantly enhance our vocational/career training service offerings. Modern English is also one of the leaders in corporate English training with over four hundred companies and government agencies as customers which will greatly complement our existing enterprise training services."
None of the Directors or the Controlling Shareholders of ChinaCast has any interests, direct or indirect, in this agreement. ChinaCast plans to use cash to pay for the rights and the establishment of the language centers.
ChinaCast Education Corporation Opens Eight Daily English Language Training Centers in Beijing
28 Aug 2007
New Training Centers Mark the Company's First Entry into the PRC Private Education Market
Beijing, August 28, 2007 – ChinaCast Education Corporation (OTCBB: CEUC.OB), one of China's leading elearning and training services providers to educational institutions, government agencies and corporate enterprises, announced today that its wholly-owned subsidiary, ChinaCast Language Training Education
Technology Limited ("CLET"), recently established eight Daily English language training centers in Beijing to provide high-end conversational English language training courses to adults and corporate customers.
CLET plans to open additional Daily English Language Training Centers in other major cities in China by the end of this year, in line with the initial goal of twenty new centers that are to be established by
November 2008. CLET also plans to leverage ChinaCast's extensive e-learning network of over 8,000 locations nationwide to scale up CLET's training business to Tier 2 and Tier 3 cities. Aside from adult conversational English training, CLET also plans to offer courses for K-12 students and test preparation services in the near future.
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According to the 2005-2006 China Education and Training Industry Research Report, total education spending in China was RMB 580 billion (US$73 billion) in 2004. The English training market accounts for less than 3% of the total market (RMB 15 billion or US$1.9 billion), with a CAGR of 12%. English communication skills are a key to career advancement of Chinese workers, especially with multinational corporations in China. Rapid growth in China's foreign direct investment and the hosting of world class events like the 2008 Olympics in Beijing and the 2010 World Expo in Shanghai are also accelerating demand for English training.
Ron Chan, Chairman and CEO of ChinaCast, commented: "We are very excited about the launch of our
Daily English language training centers as this is part of corporate strategy to broaden our education business beyond our e-learning services by owning our own branded bricks and mortar private education schools. Over the next 12 months we anticipate continued growth in our core e-learning business while expanding our Daily English centers nationwide. We also seek to acquire additional bricks and mortar schools in the career/vocational sectors to become a major player in the private education market in China."
ChinaCast Education Corporation Enters PRC For-Profit Post-Secondary Education Market by Acquiring
51% of Wuhan Media and Communications College
05 Sep 2007
Beijing, China - September 5, 2007 - ChinaCast Education Corporation ("ChinaCast", OTC BB: CEUC.OB), one of the leading e-learning and training services providers in China, today announced that it has signed a Memorandum of Understanding ("MOU") to acquire a 51% controlling interest in Wuhan Media and Communications College ("WMCC") of Huazhong Normal University. Subject to board approval and other customary closing conditions, the transaction, valued at under USD 40 million, is expected to close before the end of the year and to be accretive to revenue and earnings starting in the first quarter of
2008.
Wuhan Media and Communications College, located in the Jiangxia District of Wuhan, is a private company established in June 2004 as an independent college affiliated with Huazhong Normal
University. It has a campus of over 210,000 square meters (approximately 16 acres) and has over 350 full-time teaching staff. The college offers bachelor degree and diploma courses in information technology, digital media, computer animation, media engineering, news production, e-commerce, business management, music, performing arts, literature and English. Tuition fees range from RMB
7,500 (US$987) to RMB 19,000 (US$2,500) per year. For the academic year starting September 2006, the college had over 3,800 students enrolled and it is expected to increase to over 6,500 students starting in
September 2007. WMCC has a total on-campus student capacity of 11,000 students, which it expects to reach by academic year 2011.
The China post-secondary education market has experienced tremendous growth over the past decade as the total number of university students increased from 3.8 million in 1998 to over 16 million in 2004.
The Ministry of Education (MOE) figures show that the proportion of 18 to 22 year olds enrolled in postsecondary institutions in 2004 was 15% compared to 7% in 1996, and the MOE has set an ambitious target of 40% by 2020. A driving force behind the tremendous growth in the PRC post-secondary education sector has been the shift in the working force to a knowledge-based and services-driven economy that pays a high income premium to those with appropriate job skills based education.
"The acquisition of Wuhan Media and Communications College marks a major milestone in our strategy to be a leading for-profit education company in China as it will be our first post-secondary school," said
Ron Chan, ChinaCast Chairman and CEO. "WMCC's focus on knowledge-based vocational and technical
ChinaCast – Company Overview | Orange Passion, a Division of Lifebushido | Page 14 of 19

education makes them a very attractive partner and will serve as a model school for our future postsecondary expansion plans. We hope to leverage our nationwide e-learning network and our international education partnerships to enhance and expand WMCC's course offerings and student growth rate."
Mr. Xu Hongxing, Director of WMCC adds, "Given ChinaCast's extensive experience expanding the student population of their e-learning partner universities, we look forward to working with them to market our degree programs on a nationwide basis. We also plan to work with ChinaCast to partner with leading international education institutions to develop joint degree programs to further broaden our degree and diploma offerings."
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