TORONTO, CANADA and HONG KONG, CHINA--(Marketwire - Aug. 31, 2011) - Lingo Media Corporation (TSXV:LM.V)(Other OTC:LMDCF.PK) ("Lingo Media"), a leader in online and print-based English language learning solutions and the iGroup (Asia Pacific) Limited ("iGroup"), a leading distributor of print and digital research information in the Asia Pacific region with 26 offices spanning 13 countries, are pleased to announce the signing of a book license agreement that will expand market reach for Lingo Media's English language learning textbook programs into nine new countries in the Asia Pacific region.
The iGroup will exclusively represent Lingo Media for an initial three-year term in the manufacturing, publishing and sales of its programs, specifically PEP Primary English, Starting Line and English in Business Communications. These programs provide level based educational tools, including textbooks, supplemental books, audio-visual components and teacher training modules for students and teachers.
Lingo Media programs will be marketed and sold in Indonesia, Japan, Korea, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Michael Kraft, President & CEO of Lingo Media, said: "This is our second deal with the iGroup and represents another important distribution milestone as we pursue our vision of Changing the Way the World Learns English. Our textbook programs ranging from kindergarten through post-secondary have and continue to be widely used in the Chinese education market. With a significant library of more than 350 textbooks and supplemental products, we will now have a platform to fast track distribution into 9 new markets where the demand for English instruction is increasing rapidly."
Pote N. Lee, CEO of the iGroup, said: "We are pleased to be entering into a second deal with Lingo Media to publish and sell their English as a Foreign Language programs through our Asia Pacific network. The products have a proven track record with Ministry of Education listings and market acceptance in China and we look forward to duplicating their success in the emerging markets within our Asia Pacific distribution channels. We already represent several of the world's leading publishers in the sciences and in the arts, and the range of services we offer our institutional clients will now be enhanced by our relationship with Lingo Media."
About The iGroup
For over twenty five years, the iGroup (Asia Pacific) Limited and its subsidiaries have worked with publishers and libraries to bring research information to the desks of academics, students, educators, scientists and research professionals. The iGroup is a leading distributor of print and digital research information in the Asia Pacific region, including books, research databases, ebooks and ejournals with an estimated 1,000 institutional customers. The iGroup consists of several companies prominent in the Asia Pacific information industry with a total staff force of approximately 600 people with 26 offices in 13 countries. It represents many of the worlds' best publishers, especially those publishing in the science, technology, medical and business fields.
Lingo Media Corporation (www.lingomedia.com) is a diversified online and print-based education products and services company focused on English language learning ("ELL") on an international scale through its four distinct business units: ELL Technologies; Parlo; Speak2Me; and Lingo Learning. ELL Technologies is a globally-established ELL multi-media and online training company marketed under the Q Group brand (www.elltechnologies.com). Parlo is a fee-based online ELL training and assessment service (www.parlo.com). Speak2Me is a free-to-consumer advertising-based online ELL service in China (www.speak2me.cn). Lingo Learning is a print-based publisher of ELL programs in China. Lingo Media has formed successful relationships with key government and industry organizations, establishing a strong presence in China's education market of more than 300 million students. The Company continues to expand its ELL offerings in China and is extending its reach globally.
Portions of this press release may include "forward-looking statements" within the meaning of securities laws. Forward-looking statements contained in this press release are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve certain risks and uncertainties. Actual results may vary materially from management's expectations and projections and thus readers should not place undue reliance on forward-looking statements. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's filings with the Canadian and United States securities regulators available on www.sedar.com or www.sec.gov/edgar.shtml.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Contacts
President & CEO
(416) 927-7000 Ext. 23 or Toll Free: (866) 927-7011
(416) 927-1222 (FAX)
iGroup (Asia Pacific) Limited
Director of Business Development
(662) 769-3888 Ext. 3325
(662) 379-5182 (FAX)
Alliance Advisors, LLC
Senior Vice President