Capital Alliance Group Inc.
TSX VENTURE : CPT

Capital Alliance Group Inc.

May 23, 2006 09:00 ET

Capital Alliance Group Inc.: CIBT and WyoTech Program Named One of the Best Practices in China by the IFC

VANCOUVER, BRITISH COLOMBIA--(CCNMatthews - May 23, 2006) - Capital Alliance Group Inc. (TSX VENTURE:CPT) is pleased to report that one of its subsidiaries in China, CIBT WyoTech Automotive Institute, was named one of the Best Practices in Automotive Education in China according to a case study report presented by the International Finance Corporation (IFC), a division of the World Bank Group. CIBT WyoTech Automotive Institute (CIBT WyoTech) is a subsidiary of CIBT School of Business & Technology Corp. and has an academic agreement with Titan Schools Inc, a wholly owned subsidiary of Corinthian Colleges Inc (NASDAQ:COCO).

Prepared by the Chisholm Institute of Australia, the case study report was commissioned by the IFC and requested by China's Ministry of Finance, Ministry of Education and Ministry of Labour & Social Security. The case study report aims to assist the Chinese government in reviewing the current Technical Vocational Education Training (TVET) market and make recommendations for its future development and policy reforms to promote the development of TVET. To undertake this review, the IFC sought support from qualified and experienced consultants from Australia, China, Europe, and North America to survey the current TVET market. The report was partly funded by the Governments of the State of Victoria, Australia and Sweden. One of the purposes of the TVET project is to identify investment opportunities by the IFC.

On May 18, 2006, a conference was held at the Beijing Swissotel to release this report. The IFC presented the report and identified a total of 10 "Best Practices" distinctions at the conference. The 116 page published report was presented to officials of the Chinese government and distributed to all conference participants. A copy will be distributed to IFC and World Bank member countries around the world and posted on the IFC web site soon.

More information about the IFC and WyoTech can be found on their web sites at: www.ifc.org and www.WyoTech.com.

About CIBT and WyoTech's Joint Program

In 2005, CIBT entered into an agreement with Titan Schools Inc., to license the WyoTech's brand name and curricula to operate automotive, diesel and aviation maintenance schools in China, Taiwan and Hong Kong, with an option to expand into Thailand. The first CIBT WyoTech Automotive Institute was established in the fall of 2005 on the campus of Weifang University, in Weifang City, Shandong Province. CIBT WyoTech provides Chinese students with advanced technical programs that meet the highest standards in North America. CIBT WyoTech offers a full line of transportation maintenance certificate, diploma and degree programs to students in China.

About Corinthian Colleges Inc.:

Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America, operating 97 colleges in 25 states in the U.S. and 34 colleges in seven provinces in Canada. The Company's mission is to help students prepare for careers that are in demand or advance in their chosen career. Corinthian offers diploma programs and associate's, bachelor's and master's degrees in a variety of fields, including healthcare, business, criminal justice, transportation maintenance, trades and technology.

WyoTech is part of Titan Schools Inc., a division of Corinthian Colleges Inc. WyoTech schools offer degree and diploma programs in automotive, aeronautical, diesel, collision/refinishing, motorcycle, marine and personal watercraft, heating/ventilation/air conditioning and plumbing technology. In addition, WyoTech offers advanced training programs in applied service management; advanced diesel; advanced diagnostics; street rod and custom fabrication; chassis fabrication and high performance engines; trim and upholstery; and motor-sports.

About CIBT

CIBT School of Business is a leading business, technology and technical school in China for over a decade. CIBT operates three campuses in Beijing, two campuses in Weifang, and four learning centers in other cities in China. CIBT has academic partnerships with Beijing University of Technology and Weifang University, and delivers postsecondary business, technology and technical trade skill programs to students and corporations in China. By cooperating with leading education providers in North America including Western International University, a subsidiary of Apollo Group Inc.; ITT Technical Institute; WyoTech, a subsidiary of Corinthian Colleges Inc.; and other universities from Europe and Asia, CIBT delivers advanced curricula to meet the progressive needs of China's growing student population.

WARNING: This news release contains forward-looking information. The reader is cautioned that assumptions used in preparing such information, although considered accurate at the time of preparation, may prove incorrect. The actual results achieved may vary materially from the information provided herein. Consequently, there is no representation by the company that actual results achieved will be the same as those forecast.

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Contact Information

  • Capital Alliance Group Inc.
    Mr. James Neil
    Investor Relations
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