closeATA Launches New Landmark Test Title for the Chinese Securities, Banking and Insurance Industries
BEIJING, June 11 /Xinhua-PRNewswire-FirstCall/ -- ATA Inc. ("ATA" or
the "Company") (Nasdaq: ATAI), the leading provider of computer-based
testing and testing-related services in China, today announced that it will
be the exclusive provider of computer-based testing services for a newly
launched landmark test title, "Sales Professionals for Funds", for the
Securities Association of China. All professionals in China involved in the
sales of funds are required to obtain licensure by taking this test or
waive it by passing two alternative existing tests, "Securities Markets
Fundamentals" and "Securities Investment Analysis" from the Securities
Association of China. Exam registration will take place from June 12, 2008
through July 1, 2008 for the exam to be held on September 20, 2008 across
41 cities in China.
"We are very excited about this new title launch as it is applicable
not just under the sponsoring securities industry but also applicable to
professionals across the banking and insurance industries," commented Mr.
Kevin Ma, Chairman and Chief Executive Officer of ATA. "This continues the
favorable trend of test sponsors in China adding new nationwide test titles
on top of existing ones. Their intention is to qualify more professionals
to match the fast growing and evolving Chinese economy in a standardized
way. We view this particular test as a breakthrough as it is the first
title that extends beyond the sponsoring industry into other relevant
industries. We expect the title to generate strong traction in the number
of new test takers due to the large number of professionals involved in
sales of funds to a growing number of affluent Chinese financial service
consumers. This will also further enhance our visibility in meeting our
previously announced full year guidance."
About Securities Association of China
The Securities Association of China ("SAC") is a self-regulatory
organization for securities industry established according to relevant
provisions of the "Securities Law of the People's Republic of China" and
the "Administrative Regulations on the Registration of Public
Organizations". SAC is a non-profit social institutional legal person
functioning under the guidance and supervision of the China Securities
Regulatory Commission and the Ministry of Civil Affairs of China. For
further information, please visit: http://www.sac.net.cn .
About ATA Inc.
ATA is the leading provider of computer-based testing services in
China. The Company offers comprehensive services for the creation and
delivery of computer-based tests based on its proprietary testing
technologies and test delivery platform. The Company's computer-based
testing services are used for professional licensure and certification
tests in various industries, including information technology, or IT,
services, banking, teaching, securities, insurance and accounting. ATA's
test center network comprised 1,854 authorized test centers located
throughout China as of March 31, 2008, which the Company believes is the
largest test center network of any commercial testing service provider in
China. Combined with its test delivery technologies, this network allows
ATA's clients to administer large-scale nationwide tests in a consistent,
secure and cost-effective manner. ATA has delivered over 24 million tests
since it commenced operations in 1999, and in July 2007 delivered tests to
more than 200,000 test takers in a single day for the China Banking
Association, through its test delivery platform. For further information,
please visit: http://www.ata.net.cn .
Safe-Harbor Statement
This announcement may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and as
defined in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as "look
forward to," "outlook," "forecast," "will," "expect," "anticipate,"
"future," "intend," "plan," "believe," "estimate", ''guidance'' and similar
terminology. Among the factors that could cause the Company's actual
financial and operating results to differ from what the Company currently
anticipate may include the Company's ability to meet challenges associated
with its rapid expansion, the Company's ability to meet the expectations of
current and future clients, the Company's ability to implement and maintain
effective internal controls over financial reporting, the health of the PRC
economy, and uncertainties with respect to the PRC legal and regulatory
environments. For additional information on these and other important
factors that could adversely affect the Company's business, financial
condition, results of operations and future prospects, please refer to a
more detailed discussion of the Company's risk factors in the Company's
filings with the Securities and Exchange Commission.
For more information, please contact:
ATA Inc.
Carl Yeung, CFO
Tel: +86-10-65181122-5107
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com
SOURCE ATA Inc.
Released June 11, 2008