HARBIN, China, July 29, 2011 /PRNewswire-Asia-FirstCall/ --
China Education Alliance, Inc. ("China Education Alliance" or the
"Company") (NYSE: CEU), a China-based education resource and services
company, today announced that the Company was notified by the New
York Stock Exchange ("NYSE") on July 12,
2011 that the Company was not in compliance with the NYSE
continued listing standard requiring a listed security to maintain
a minimum average closing price of $1.00 per share over a consecutive 30-trading-day
period. The NYSE noted that the minimum average closing price is
the only listing criteria the Company is not in compliance with.
The Company has six months from receipt of the notification to
bring its share price and average share price back above
$1.00.
About China Education Alliance, Inc. China Education Alliance,
Inc. (http://www.chinaeducationalliance.com) is a fast-growing,
leading, China-based company
offering high-quality education resources and services to students
ages 6 to 18 and adults (university students and professionals)
ages 18 and over. For students ages 6 to 18, China Education
Alliance offers supplemental, online exam-oriented training
materials and onsite, exam-oriented training and tutoring services.
The company provides online, downloadable famous-teacher resources
and onsite, personalized instruction. All resources and tutoring
services are provided by famous teachers within mainland
China. The purpose of online
exam-orientated resources and onsite tutoring is to help Chinese
students (ages 6 to 18) pass the two most important and highly
competitive exams in their educational career: the senior high
school entrance and college entrance exams. For graduates and
professionals age 18 and over, China Education Alliance provides
vocational training including IT and several professional training
programs.
Forward-Looking Statements
Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These statements include, but are not limited to, expectations of
signing new customers and contracts, developing new products,
projected revenues and earnings, and the success of new products.
These forward-looking statements are based largely on current
expectations and are subject to a number of known and unknown
risks, uncertainties and other factors beyond our control that
could cause actual events and results to differ materially from
these statements. These statements are not guarantees of future
performance, and readers are cautioned not to place undue reliance
on these forward-looking statements, which are relevant as of the
date of the given press release and should not be relied upon as of
any subsequent date. China Education Alliance undertakes no
obligation to update the forward-looking information contained in
this press release.
For more information, please contact:
China Education Alliance, Inc.
Alice Lee Rogers, CFO
Tel: +1-626-379-5956
Email: alice@edu-chn.com (mailto:alice@edu-chn.com)
Christensen
Jenny Wu
Telephone: +86 10 5826 4939
Email: jwu@christensenIR.com (mailto:jwu@christensenIR.com)
SOURCE China Education Alliance, Inc.