BEIJING, June 23 /Xinhua-PRNewswire/ -- ATA Inc. (Nasdaq: ATAI) ("ATA", or the "Company"), the leading provider of computer-based testing services in China, announced today that it is set to join the Russell Global Index when Russell Investments reconstitutes the index on June 27, 2008, according to a preliminary list of additions posted June 13, 2008 on http://www.russell.com .
The Russell Global Index represents the investable global equity market and its segments comprehensively. It consists of more than 10,000 securities in 63 countries and offers over 300 key sub indexes representing 98% of the investable global equity market. The 2008 reconstitution of the Russell Indexes will take place after the market close on June 27, 2008 and the new indexes will be effective for one year.
"We are pleased to be a part of the Russell Global Index, which will raise our profile with the investment community globally, as we continue to aggressively grow our computer based testing services business in China to create value for our shareholders," commented Mr. Kevin Ma, Chairman and Chief Executive Officer of ATA.
The reconstitution of the Russell Global Index is usually a highly-anticipated event and leads to heavy trading volume in the US equity markets, since buying and selling activities of asset managers are influenced by index component changes. As a result, being added to the Russell Indexes may affect the market demand for the stocks of component companies.
About Russell Investments:
Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world’s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Headquartered in Tacoma, Wash., Russell has principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information on Russell indexes, go to http://www.russell.com .
About ATA Inc.:
ATA Inc. (Nasdaq: ATAI) ("ATA" or the "Company") 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 1,835 authorized test centers located throughout China as of December 31, 2007, 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 23 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.
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" 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.