* The Acquisition is Expected to Generate $21.8 Million in Revenue,
   $8.1 Million in Adjusted Net Income Before Tax (Non-GAAP) and Have
   Over 9,000 On-Campus University Students Enrolled for the 2009-2010
   Academic Year Which Began in September 2009
 * Management to Host Conference Call At 11:00 am ET, Monday, September
   28, 2009 -- Details Follow

BEIJING, Sept. 28, 2009 (GLOBE NEWSWIRE) -- ChinaCast Education Corporation ("The Company" or "ChinaCast") (Nasdaq:CAST), a leading for-profit, post-secondary education and e-learning services provider in China, today announced the acquisition of the Lijiang College of Guangxi Normal University ("Lijiang College") for a cash consideration of $53.7 million. The financials of the university will be consolidated with ChinaCast's financial results beginning in October 2009.

Ron Chan, ChinaCast Education Corporation Chairman and CEO, commented, "With the acquisition of Lijiang College, our second fully-accredited university, ChinaCast Education will now have over 21,000 on-campus and 135,000 e-learning university students throughout the PRC. In addition to growing our nationwide campus locations and e-learning distribution network, our strategy is to complement our accredited degree programs by adding international, career/vocational and online course offerings, which will further expand our addressable market while creating incremental revenue opportunities. Our balance sheet and cash flow remain strong and we look forward to further capitalizing on the long-term, secular growth of the PRC for-profit, post-secondary education sector."

About the Lijiang College Acquisition

On September 28, 2009, the Company's wholly-owned subsidiary, ChinaCast Communication Network Company Ltd., entered into a definitive agreement to acquire 100% of East Achieve Limited, the holding company which owns 100% of Lijiang College, for a cash consideration of $53.7 million.

Lijiang College was founded in 2001 by private investors as an independent, accredited college affiliated with Guangxi Normal University, which is located in the city of Guilin in southwestern China. The university has 415 full-time and part-time teachers and offers fully accredited bachelor degree and diploma courses in tourism, hospitality, language studies, computer engineering, economics, law, music, art and physical education.

Lijiang College began enrolling students in September 2004 and has a campus area encompassing 58 acres and 1.5 million square feet of building floor space.