Amd Commo Exagr Regulatory News (COMG)

20 Feb 2006 11:39

Europasia Education PLC20 February 2006 20 February 2006 EUROPASIA EDUCATION China Education Group Interim ResultsPotential New Investment China Education Group ("CEG"), the Ofex listed Chinese education facilitiesmanager in which EPE has a 13.8% stake, plus Convertible Loan Notes, last Fridayannounced a near 50% increase in profits for the six months ended 31 December2005, to £1.7 million. The market reacted well to the news, with the shares upover 15% since the announcement. CEG manages Shandong International Institute of Translation ("SIIT"), a privatecollege based in Shandong Province, China. SIIT increased student numbers by3,000 to 11,000, and continues to expand its facilities to enable it ultimatelyto accommodate up to 17,000 students. CEG listed both its ordinary shares and 7% Convertible Loan Notes on Ofex inDecember 2005 (code CEG). James Holmes, EPE Chairman, said: "CEG continues to perform strongly, and webelieve it has significant potential to continue to grow profits as it expandsits facilities and takes advantage of its Ofex listing to develop additionalinternational partnerships, and make acquisitions and new investments. The totalvalue of the CEG ordinary shares and Converitable Loan Notes held by EPE at thecurrent market price is £ 3.3 millions." "Following the recent successful fund raising, EPE is currently performing duediligence on a similar type of business to CEG in China, in which we areproposing to take a stake, details of which we hope to announce in the nearfuture." For further information, contact: Paul Quade James HolmesCity Road Communications Europasia Education plcTel 020 7248 8010 Tel 020 7248 7578 About China Education Group CEG is an Ofex listed facilities management company which manages ShandongInternational Institute of Translation ("SIIT"), a profitable private collegebased in Shandong Province, China. SIIT currently has 11,000 students, based intwo campuses. For additional information, visit the Company's web site atwww.chinaeducationgroup.com About Europasia Education plc EPE is an AIM listed education investment group, focused on opportunities inEurope and Asia. It has three core investments: o 13.8% of China Education Group, plus £ 387,755 of Convertible Loan Notes; o 100% of Education 2000, an English language and work experience placement business based in Bournemouth, UK; o 100% of Columbia International, trading under the name Management International, an education consulting and work placement business based in London. For additional information, visit www.europasiaeducation.com This information is provided by RNS The company news service from the London Stock Exchange