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ChinaCast Education Corporation Expands Board of Directors

ChinaCast Education Corporation Expands Board of Directors

ChinaCast Education Corporation (NASDAQ GS: CAST), a leading post-secondary and e-Learning services provider in China, today announced that it has expanded its Board of Directors to seven and appointed Mr. Douglas Woodrum to fill the vacancy.  Mr. Woodrum was appointed as the designee of Fir Tree Inc. pursuant to the Letter Agreement, dated June 27, 2008, between Fir Tree and the Company.  Mr. Woodrum qualifies as an independent director pursuant to the NASDAQ Listing Rules.  Mr. Woodrum joins Ron Chan, Derek Feng, Stephen Markscheid, Michael Santos, Ned Sherwood and Daniel Tseung on the ChinaCast Board.

Mr. Woodrum, a private investor, served from 2006 to 2009 as a research analyst for Jayhawk Capital Management, a private equity firm focusing on investing growth for small- and medium-sized businesses operating in China.  From 1998 to 2005, Mr. Woodrum was the Chief Financial Officer of CNET Networks, Inc., an online media company, where his responsibilities included raising capital for growth, business model development, financial reporting, annual budgeting, long-term planning, acquisitions, investor relations and tax.  Mr. Woodrum received his B.B.A. in finance and accounting from the University of Iowa.

Ron Chan, Chairman and Chief Executive Officer of ChinaCast commented, “The Board has determined, in accordance with the expressed desire of a number of our significant stockholders, to accept Fir Tree’s request to add Doug Woodrum to the Board as a representative of Fir Tree.  Doug has been a significant stockholder for nearly two years and we believe that he knows the Company well. We welcome his extensive accounting and financial experience with respect to businesses operating in China.  Now that the full composition of our Board has been set, management will focus on continuing our success in managing business operations and maintaining positive relationships with the Chinese regulatory authorities and the state-owned parent universities of our three schools.  Additionally, given what we believe is a significant undervaluation of our Company’s valuation in the public marketplace, management remains fully committed to supporting the Board and Special Committee in the process of exploring strategic alternatives that may result in achieving a better valuation of our Company for all stockholders.”

About ChinaCast Education Corporation

Established in 1999, ChinaCast Education Corporation is a leading post-secondary education and e-learning services provider in China.  The Company provides post-secondary degree and diploma programs through its three fully accredited universities:  The Foreign Trade and Business College of Chongqing Normal University located in Chongqing; Lijiang College of Guangxi Normal University located in Guilin; and Hubei Industrial University Business College located in Wuhan.  These universities offer four year and three year, career-oriented bachelor’s degree and diploma programs in business, finance, economics, law, IT, engineering, hospitality and tourism management, advertising, language studies, art and music.

The Company also provides e-learning services to post-secondary institutions, K-12 schools, government agencies and corporate enterprises via its nationwide satellite broadband network.  These services include interactive distance learning applications, multimedia education content delivery and vocational training courses.  The Company is listed on the NASDAQ Global Select Market with the ticker symbol CAST.

Safe Harbor Statement

This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management’s plans and objectives, future contracts, and forecasts of trends and other matters.  These projections, expectations and trends are dependent on certain risks and uncertainties including such factors, among others, as growth in demand for education services, smooth and timely implementation of new training centers and other risk factors listed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010.  Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.  You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as “anticipate,” “estimate,” “expect,” “believe,” “will likely result,” “outlook,” “project” and other words and expressions of similar meaning.  No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially.  For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.

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China Direct Industries to Change Corporate Name to CD International Enterprises

China Direct Industries to Change Corporate Name to CD International Enterprises

China Direct Industries, Inc. (NASDAQ: CDII), a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides cross border corporate advisory services announced today that the Company’s board of directors has approved a change of the Company’s name to CD International Enterprises, Inc., subject to approval of its shareholders at the Company’s special shareholder meeting which is expected to take place in February 2012. There is no change planned to the Company’s NASDAQ trading symbol which will remain CDII.

Management believes the new corporate name reflects our new business direction to build our company into a truly global organization in 2012 and beyond as we look to grow our sourcing, processing, and distribution business in Mexico and South America. In addition, management intends to actively explore additional opportunities to further diversify its revenue geographically.

In a letter to shareholders, Dr. James Wang, CEO and Chairman of China Direct Industries, Inc., stated the following:

Dear Fellow Shareholders:

As we begin this New Year, I would like to thank each and every shareholder for your continued support and to extend our best wishes to you for a very happy and prosperous 2012. Over the course of this past year our company has achieved a great deal that will help us set the stage for future growth in fiscal 2012 and beyond. We have built a solid foundation for our company to enable us to move forward with our transformation into a truly global organization. In an effort to reflect this exciting global focus for our future, our board of directors has approved changing our corporate name to CD International Enterprises which we will adopt effective January 23, 2012. Our whole team is dedicated to our global effort and we intend to work diligently to make our company a vibrant and growing organization with a geographically diversified revenue base for the benefit of our shareholders.

As we move forward into our exciting future I think it is important to look back at the steps we have taken over the past two fiscal years as well as our future plans to position our company for this exciting new chapter in our corporate history.

In our Magnesium Segment:

1. We have reached the late stage of our planned magnesium consolidation through the acquisition of Taiyuan Ruiming Yiwei Magnesium Co., Ltd., the acquisition of the non-controlling interest in Shanxi Gu County Golden Magnesium Co., Ltd. (“Golden Magnesium”), as well as our proposed acquisitions of Golden Trust Magnesium Industry Co., Ltd. and 80% of Lingshi Xinghai Magnesium Industry Co., Ltd. If we complete our proposed acquisitions, we stand to become the largest producer of magnesium in the world with approximate annual production capacity of 100,000 metric tons. We believe our magnesium business will be the main driver of future growth in both revenue and earnings as magnesium demand is forecasted to reach new levels in fiscal years 2013 and 2014.

2. We successfully completed the implementation of our new UFIDA NC Enterprise Resource Planning (ERP) financial accounting software system at our Golden Magnesium facility. We expect to continue the implementation of the ERP system in our remaining magnesium subsidiaries during fiscal 2012. Full implementation and utilization of the ERP system will help management improve corporate forecasting, overall accounting practices, and financial transparency as we grow our operations in the coming years.

3. We also plan to consolidate our raw material purchasing, sales, accounting, marketing and human resources in order to streamline our magnesium operations. We believe that the cost synergies and economies of scale will help to reduce our production costs and improve our magnesium operating margin. Our directors, Mr. Huang and Mr. Kung, will lead this effort.

In our Basic Materials Segment:

1. Our first step in the geographic diversification of our business began with the development of our international commodities sourcing and processing business. In fiscal 2011, we completed the delivery of two shipments of iron ore sourced from Mexico. Additionally, we set up operations in Bolivia and Chile in an effort to establish a continuous source of iron ore.

2. We expect to ship a total of about 100,000 tons from these three locations in the second quarter of fiscal year 2012. We believe we have the ability to ramp these operations to an average shipping run rate of approximately 100,000 tons per month in the second half of 2012 and reach a rate of 200,000 tons per month in 2013.

3. We are exploring additional sourcing opportunities in Peru for fiscal 2013 to further fuel our growth in this business as we work towards our goal of delivering six million tons of iron ore annually out of this region by 2015.

4. We also intend to establish other geographically diverse revenue streams in this segment and are currently evaluating a potential opportunity in North America for the sourcing, processing, and distribution of scrap metal and steel.

In our Consulting Segment:

1. Over the course of fiscal 2011 we helped complete two transactions for our consulting clients and increased the number of clients for which we provide ongoing advisory services. We assisted one of our advisory services clients, Sunwin International Neutraceuticals, Inc., with establishing a distribution arrangement with Domino Foods for its all-natural low calorie sweetener and we are also working with other opportunities to help them establish sales and business relationships in North America.

2. In addition, we launched the ‘China Value Program’ in order to expand our scope of services to China-based U.S. listed public companies. This program is tailored to assist these companies in navigating through the current market challenges for Chinese companies.

3. Through our marketing efforts we expect to continue to expand our client base in fiscal 2012. We believe this will lead to the addition of several new clients in this fiscal year with at least two of these new clients leading to transactional related assistance. We intend to reach a total of ten ongoing services clients by the end of this fiscal year.

In order to support the growth and diversification of our various businesses we have named Hernan Grant Welch to the position of Executive Vice President and Chief Financial Officer. Mr. Welch has garnered over 30 years of international finance experience in working for both public companies and major auditing firms. His experience will be instrumental in helping us manage the financial aspects of our international expansion. We have also doubled the size of our corporate headquarters to 13,000 square feet. We plan to use the expanded space for additional management and marketing operations for our international commodities distribution business, our consulting services operations, and administration and sales for our magnesium operations.

As we move forward with our expansion plans, we also intend to intensify our own public relations efforts. We will look to take every opportunity and make every effort to raise the profile of our company with the business and investor community as we deliver on our business goals in an effort to increase our corporate visibility value and unlock the true value of what we are building here at our company. We expect the implementation of this growth plan in the coming years to enable us to emerge as a diversified and profitable company that generates sustainable cash flow to fuel our growth for years to come.

In closing, I would like to emphasize that each and every member of our organization is committed to our growth plan and we are excited to enter into this New Year with our experienced management team, streamlined operations and strong business relationships in the U.S., China and South America. We intend to dutifully implement our focused plan for our company as we seek to achieve substantial growth in revenues and earnings while carefully controlling the cost of operations. As always, we thank you for your support and look forward to maximizing the value of our company for you, our shareholders, in the years to come. We look forward to your continuing support as we make this journey together.


James Wang, Ph.D.
Chairman of the Board

About CD International Enterprises

China Direct Industries, Inc. d/b/a CD International Enterprises (NASDAQ: CDII – News), is a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, CD International Enterprises’ unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about CD International Enterprises, please visit


In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Direct Industries, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our expected growth, cost synergies, iron ore sales and future acquisitions of scrap metal operations, completion of our proposed acquisitions and implementation of our ERP system and efforts to import magnesium into the U.S.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Report on Form 10-K for the fiscal year ended September 30, 2011.


In connection with our proposed acquisitions Golden Trust Magnesium and Lingshi Magnesium and the change of our corporate name discussed in this press release, we will be filing a proxy statement and relevant documents concerning the transactions with the Securities and Exchange Commission (“SEC”). SECURITY HOLDERS OF OUR COMPANY ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders can obtain free copies of the proxy statement and other documents when they become available by contacting our Investor Relations Department, 431 Fairway Drive, Suite 200, Deerfield Beach, FL 33441 (Telephone: (954) 363-7333). In addition, documents we filed with the SEC are available free of charge at the SEC’s web site at and at our under “Investor Relations – SEC Filings.”

Our company and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies in respect of the proposed acquisitions Golden Trust Magnesium and Lingshi Magnesium and the change of our corporate name. Information regarding our directors and executive officers is available in our Annual Report on Form 10-K for the year ended September 30, 2011, which was filed with the SEC on December 23, 2011 and the proxy statement and other relevant materials filed with the SEC in connection with these matters. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Each of these documents is, or will be, available free of charge at the SEC’s web site at and from our Investor Relations Department, 431 Fairway Drive, Suite 200, Deerfield Beach, FL 33441 (Telephone: (954) 363-7333).

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AsiaInfo-Linkage, Inc. Announces Receipt of “Going Private” Proposal

AsiaInfo-Linkage, Inc. Announces Receipt of “Going Private” Proposal

AsiaInfo-Linkage, Inc. (Nasdaq: ASIA) (“AsiaInfo-Linkage” or the “Company”), a leading provider of telecommunications software solutions and related services, today announced that its Board of Directors has received a non-binding proposal letter from Power Joy (Cayman) Limited (“Power Joy”), a wholly owned subsidiary of CITIC Capital China Partners II, L.P., pursuant to which Power Joy proposes to acquire all of the outstanding shares of common stock of AsiaInfo-Linkage in cash at a price which represents a premium over the current stock price (the “Proposal”).

The Special Committee of the Board of Directors (the “Special Committee”), which was formed to consider the Proposal and any potential alternative transactions involving the Company, has retained Shearman & Sterling LLP as its legal counsel and is in the process of engaging a financial advisor to assist it in consideration of such matters. Mr. Yungang Lu, Mr. Davin A. Mackenzie and Mr. Sean Shao were designated as the members of the Special Committee. The Board cautions the Company’s shareholders and others considering trading in its securities that no decision has been made by the Special Committee with respect to the Company’s response to the Proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

About AsiaInfo-Linkage, Inc.

AsiaInfo-Linkage, Inc. is a leading provider of high-quality software solutions and IT services in China’s telecommunications industry. Following the merger between AsiaInfo Holdings, Inc. (“AsiaInfo”) and Linkage Technologies International Holdings Limited (“Linkage”) on July 1, 2010, AsiaInfo-Linkage leverages both AsiaInfo’s and Linkage’s leading market positions and complementary customer bases to provide a robust, comprehensive service offering primarily to China’s telecom operators. AsiaInfo-Linkage’s world-class R&D capabilities and extensive base of highly skilled engineers provide best-of-class solutions to help customers differentiate themselves from the competition.

For more information about AsiaInfo-Linkage, please visit

Cautionary Note Regarding Forward-Looking Statements

This press release contains “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 U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology. Such forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in the statements. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission. The information contained in this document is as of January 20, 2012. AsiaInfo-Linkage does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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China GrenTech Announces Amendment to Definitive Merger Agreement For “Going Private” Transaction

China GrenTech Announces Amendment to Definitive Merger Agreement For “Going Private” Transaction

China GrenTech Corporation Limited (NASDAQ: GRRF, “GrenTech,” or the “Company”), a leading China-based provider of radio frequency and wireless coverage products and services, today announced that it has entered into an amended and restated agreement and plan of merger with Talenthome Management Limited (“Parent”) and Xing Sheng Corporation Limited (“Merger Sub”) in order to amend certain provisions of the agreement and plan of merger among the parties entered into on January 12, 2012 (the “Original Merger Agreement,” and as amended and restated, the “Merger Agreement”). Merger Sub is a wholly-owned subsidiary of Parent which is jointly owned indirectly by Mr. Yingjie Gao, the Company’s Chairman and Chief Executive Officer (“Mr. Gao”), Ms. Rong Yu, the Company’s Director and Chief Financial Officer, and Ms. Yin Huang (together, the “Buyer Group”).

The amendments are being made to correct the inadvertent omission by the Company of 28,000,000 outstanding ordinary shares of the Company (the “Additional Shares”) from the total number of issued and outstanding shares initially stated in the Original Merger Agreement. The amended number of total issued and outstanding shares stated in the Merger Agreement is 587,397,825 ordinary shares. In addition to the expected proceeds from the previously announced loan commitment in the amount of HK$320,000,000 from Guotai Junan Finance (Hong Kong) Limited which the Buyer Group intends to use to finance the merger and other transactions contemplated by the Merger Agreement, Mr. Gao has committed to unconditionally disburse US$3.45 million to Parent by way of a shareholder loan at the effective time of the merger pursuant to a promissory note executed and delivered on January 20, 2012 in favor of Parent to provide funds for the acquisition of the Additional Shares in the event the merger is approved by the Company’s shareholders and the other closing conditions are satisfied. Mr. Gao’s disbursement obligation under the promissory note is guaranteed by Guoren Industrial Developments Limited, a shareholder of the Company which is wholly owned by Mr. Gao. Except as provided above, the material terms and conditions of the Original Merger Agreement, including the merger consideration of US$0.126 per ordinary share and US$3.15 per American depositary shares, remain unchanged. The Company’s Board of Directors, acting upon the unanimous recommendation of the Independent Committee formed by the Board of Directors, has approved the foregoing amendment and restatement of the Original Merger Agreement. Taking into account the Additional Shares, the Buyer Group collectively beneficially owns approximately 40.1% of the Company’s issued and outstanding ordinary shares.

About China GrenTech

GrenTech is a leading developer of radio frequency (“RF”) technology in China and a leading provider of wireless coverage products and services in China. The Company uses RF technology to design and manufacture wireless coverage products, which enables telecommunications operators to expand the reach of their wireless communication networks to indoor and outdoor areas such as buildings, highways, subways, tunnels and remote regions. China GrenTech’s wireless coverage services include design, installation and project warranty services. The Company also tailors the design and configuration of its wireless coverage products to the specific requirements of its customers.

Based on its in-house RF technology platform, the Company also develops and produces base station RF parts and components sold to base station manufacturers. GrenTech is a qualified supplier of RF parts and components to major global and domestic base station manufacturers.  For more information, please visit

Safe Harbor Statement

Certain statements contained in this announcement may be viewed as “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of GrenTech to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, and other risks outlined in GrenTech’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1 and annual reports on Form 20-F. GrenTech undertakes no ongoing obligation, other than that imposed by law, to update these statements.

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