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| ||Thu Oct 8, 2009|
China Education Resources Issues Update and Discusses Growth Plans
| ||VANCOUVER, BRITISH COLUMBIA--(October 8, 2009) - China Education Resources Inc. ("China Education", "CER", "the Company") (TSX VENTURE:CHN) (OTCQX:CHNUF) - today issued an update on recent business developments:|
</html>Mr. Zhou said, "It is clear that CER has turned a corner. We are well on our way to becoming an important provider of online educational resources and services to the 12 million teachers and the 200 million students in the K-12 area. The recent acquisition of YCY has given us the sales and marketing capability to start selling the products and services that we have developed over the last several years. While many of these are still in testing phase, I believe we will be able to generate meaningful revenue from the sale of these products and services.
- The combination of CER's subsidiary TTTC and its recent acquisition Yu Cheng Yuan Consulting Services Ltd. (YCY) has started to deliver results. The company expects to generate at least $2 million in revenue for 2009 and show a significant increase over that figure in 2010.
- The process of integrating YCY with TTTC is proceeding on schedule. The online supporting materials including video contents used in some of YCY's textbooks have been uploaded onto CER's portal www.CERSP.com. C.F. Zhou, Chairman and CEO, said "The portal will increase the market penetration of YCY's products and increase sales. Further, the portal has been used to introduce YCY's online vocational skills training program targeted at over 3,000,000 secondary school students initially. The objective is to better equip secondary school students for the job market so that they will be more easily hired by employers and/or manage their own small businesses."
CER's revenues will consist of a stable and growing base in the distribution of traditional hard copy material coupled with higher margin, online revenue from our portal which will have greater market penetration and greater potential to grow."
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's various education authorities and experts, China Education Resources Inc. ("CER") is helping to transform the curriculum of the world's largest educational system. Recognizing the need for centralization and increased accessibility to address the Chinese Central government's 2000 education reform policy changes, CER has created educational tools and curricula for China's entire kindergarten through twelfth grade system. By implementing the government's goal of converting the existing educational system from memory-based learning to creative thinking and utilizing a more interactive approach to embrace a world-based economy, CER has played an integral part in positioning China's educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
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China Education Resources Inc. (604) 683-6865
Source: China Education Resources Inc.
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