CORRECTION -- Global Education Announces Fourth Quarter and Fiscal Year 2010 Financial Results

In a press release issued earlier today by Global Education & Technology Group Ltd. (Nasdaq:GEDU) under the same headline, please note that Franchise fees, study abroad consulting services and sales of books and course materials for the year ended December 31, 2010 should have read 23,727. The corrected table follows:

GLOBAL EDUCATION & TECHNOLOGY GROUP LIMITED
Unaudited Condensed Consolidated Statements of Operations
	For the year ended December 31,
	2010	2009	2010
	RMB	RMB	USD
Revenues
Educational programs and services	321,848	229,491	48,765
Franchise fees, study abroad consulting services and sales of books and course materials	23,727	16,739	3,595
Total revenues	345,575	246,230	52,360
Operating costs and expenses
Cost of revenues	(152,612)	(101,976)	(23,123)
Selling and marketing expenses	(92,204)	(64,590)	(13,970)
General and administrative expenses	(40,431)	(28,968)	(6,126)
Total operating costs and expenses	(285,247)	(195,534)	(43,219)
Operating income	60,328	50,696	9,141
Interest income	7,507	5,510	1,137
Investment income	--	3,833	--
Foreign exchange losses, net	(64)	(119)	(10)
Consideration payable fair value change	(3,887)	--	(589)
Other income, net	561	461	85
Income before income taxes	64,445	60,381	9,764
Income tax expense	(7,801)	(4,778)	(1,182)
Net income	56,644	55,603	8,582
Accretion of convertible redeemable preferred shares	2,038	(22,083)	309
Income allocated to participating preferred shareholder	(14,441)	(18,699)	(2,188)
Net income attributable to ordinary shareholders	44,241	14,821	6,703
Net income per share:
Basic	0.72	0.30	0.11
Diluted	0.70	0.30	0.11
Weighted average number of shares outstanding:
Basic	61,629,049	49,030,191	61,629,049
Diluted	81,222,352	49,030,191	81,222,352

CONTACT: Global Education & Technology Group Ltd.
         Jessica Wang
         IR Senior Officer
         Phone: [phone] ext 302
         E-mail: [e-mail]
         [e-mail]
         
         ICR LLC.
         Michael Tieu
         Phone: [phone]
         or [phone]
         E-mail: [e-mail]