BEIJING, Feb. 14 /Xinhua-PRNewswire/ — New Oriental Education &
Technology Group Inc. (NYSE: EDU), the largest provider of private
educational services in China (”New Oriental” or the “Company”), today
announced that its board of directors has approved a share repurchase
program. The board has authorized New Oriental to repurchase up to one
million of its own American Depositary Shares (”ADSs”) during the period
from February 25, 2008 to December 31, 2008. The repurchases will be made
from time to time on the open market at prevailing market prices, in
negotiated transactions off the market, in block trades, pursuant to a
10b5-1 plan (which allows New Oriental to repurchase its ADSs during
periods in which it may be in possession of material non-public
information) or otherwise.
n) or otherwise.

New Oriental is a China based company that provides English teaching services to many students looking to pursue educational opportunities abroad, business purposes and self-enrichment. The company is in a niche market and is quickly expanding due mostly to globalization and the need for English proficiency.

A company decides to sell shares for many reasons but only decides to buy back for one, GROWTH.

The technicals in the last 3 month look solid as well. Note that this company has projected lower 4th quarter earnings because of the poor weather driving students to defer enrollment to later periods.

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