China Education Resources Inc.
TSX VENTURE : CHN

China Education Resources Inc.

October 21, 2005 09:00 ET

China Education Resources Inc. Appoints American Director

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 21, 2005) - China Education Resources Inc. (TSX VENTURE:CHN), today announced the appointment of Jeffrey Munks to the Board of Directors.

Mr. Munks is a native and resident of California and has 25 years of senior business experience in a variety of areas including eLearning, network technologies, and language services. He has also worked in higher education, where his entrepreneurial business skills helped generate new models for public-private partnering. Mr. Munks currently works for Anteon Corporation as a senior program manager and is assigned to the United States Navy's Executive Learning Office where, for the last 3 1/2 years, he has helped develop and manage programs supporting the career professional development of Navy admirals and senior civilian executives.

Previously, Mr. Munks was a co-founder of Language Line Services, a company that makes interpreters in 140 languages available over the phone to support virtually any application. Language Line was acquired by AT&T in 1989 and Munks stayed to help lead the business through more than a 4,000% in revenue growth over a five year period. Language Line was recently acquired by ABRY Partners for more than $700M.

In 1997, Mr. Munks secured $4 million U.S. in venture funding and founded Arista Knowledge Systems, a software company that pioneered digital content management processes to support network-based elearning applications. Arista was acquired by industry leader Digital Think Inc. in July 2000 in a cash and stock deal worth approximately $30 million U.S.

Chengfeng Zhou, Chairman, said, "We are very happy to welcome Mr. Munks to the Board. I am confident that he will be a significant contributor to our business. His knowledge in the e-learning area and prior business experience developing educational programs in China will be especially important as we develop and roll out our web-based education resources portal in China. His record of successes and his connections in the American investment banking community will also benefit our Board as we pursue our stated objective of securing a listing on a United States stock exchange and begin to gain exposure in the United States."

Further to news release dated August 22, 2005, due to filing/response time constraints and registration requirements, China Education has withdrawn its United States 20-F registration statement. The Company anticipates updating its filing and will re-file upon completion of its third quarter financial statements.

Additionally, the Company wishes to announce that it has granted an aggregate of 900,000 incentive stock options to certain directors and/or officers. Of the 900,000 options, 550,000 expired and are being re-granted at the previous exercise price of $1.05 per share for a period of 5 years expiring October 19, 2010 and 350,000 are new grants exercisable at a price of $0.65 per share also expiring October 19, 2010.

About China Education Resources

China Education Resources Inc. is a Canadian-based company focused on leading China's education reform program. As a leading distributor of hardcopy text books and other related educational materials, the Company is developing an internet-based educational resource portal to facilitate China's new education initiatives.

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 future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.


The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.

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