Amd Commo Exagr Regulatory News (COMG)

15 May 2006 10:54

Europasia Education PLC15 May 2006 15 May 2006 EUROPASIA EDUCATION DBI Interim Results show strong growth Europasia Education plc's ("EPE") investee company, Dalian Business InstituteLtd ("DBI"), today released interim results for the six months ended 31 January2006 showing turnover of £1.0 million, and post tax profits of £0.9 million, up13.1% on the comparative period in 2005. DBI is a Jersey incorporated company with a 25 year contract for the managementof Dalian Business Institute in Liaoning Province, China ("DBIC"). DBI is inthe process of applying for a quotation on Ofex, with trading expected tocommence on 23 May. DBI announced last week that it had successfully raised £1.5 million to fundexpansion of its facilities to meet demand for its courses. Following the fundraising, EPE's stake in DBI is 10.8%. Mr Zhang Wenchao, President of DBIC, said: "We continue to see strong demand forour programs, reflected in the increased profits for the six months to January2006. Once quoted on Ofex, we will look both to expand organically, throughadditional courses and increased facilities, and via acquisition, using thefunds raised and the strong cash flows generated by the business." James Holmes, EPE Chairman, said: "We invested £1.1 million for a stake in DBI,which should show a significant uplift when the company is quoted on Ofex in thenext two weeks." For further information, contact: Paul Quade James Holmes City Road Communications Europasia Education plc Tel 020 7248 8010 Tel 020 7248 7578 About Dalian Business Institute China DBIC is located in Dalian city, Liaoning Province. Founded in 1997, DBIC is anationally accredited comprehensive three-year college focusing on business andarts subjects. There are currently over 5,000 students, based in the campus inLiaoning Province, China. There are 6 colleges and 5 faculties on the site,providing 3-year diploma, and distance learning courses in 8 specific areas:Business Management; International Trade; International Accounting & Finance;Information Technology; International Tourism; Foreign Languages; Business Laws;and Arts. The college diplomas awarded by DBI are recognised by the Ministry of Education(MOE), the government authority of China. In China, only a degree or diplomagranted by a university or college accredited by the Ministry of Education canbe recognised officially in the nation. DBI is also working with local renownedpublic universities, such as Bohai University & Dalian University of Technology,to provide additional 1-2 year courses leading to bachelor's degree from thosepartnership universities. This information is provided by RNS The company news service from the London Stock Exchange