VCampus (CE) (USOTC:VCMP)
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VCampus Corporation (OTCBB:VCMP.OB), a leading provider of
technology-based learning solutions for corporations, government
agencies and associations, today announced that the Department of
Veterans Affairs has awarded a contract to VCampus to support its
Web-based training initiatives through the operation of VA Learning
Online (VALO). Additionally, the contract provides for the development
of a Veterans e-Learning Online (VeLO) pilot program that provides
selected veterans with vocationally relevant online training
opportunities. The value of the contract to VCampus is approximately $2
million.
Under the terms of the contract, VCampus will design, deploy and host VA
Learning Online (VALO), an online learning environment that makes
VA-provided or -developed courses, together with VCampus' certification
preparation and other courses from its library, readily available to up
to 350,000 VA employees, contractors, volunteers and veterans at all VA
locations. VALO, first implemented VA-wide in 2002 through VCampus, has
become a stable pillar of the VA’s educational
activities.
The contract also provides for VCampus to design, deploy and host a
Veterans e-Learning Online (VeLO) pilot program for veterans in the
Compensated Work Therapy/Transitional Residence Program. The goal of
this program is to provide veterans with the opportunity to increase the
knowledge and skills necessary to gain employment through access to a
library of vocationally relevant online courses.
The VA contract underscores VCampus' continued support of online
learning initiatives in the federal government. The Social Security
Administration, Department of Homeland Security and General Services
Administration are among the numerous government agencies that have used
the VCampus Learning Management System to support their human capital
management initiatives.
"VA's vision to increase the quality of its workforce and help establish
the Department as an employer of choice through e-Learning is exactly on
target with the intent of Executive Order 13111," said Ronald E.
Freedman, VCampus Senior Vice President of e-Learning Solutions.
"VCampus' full-service e-Learning model, which meshes the
rapid-implementation processes of an outsourced solution with a heavy
emphasis on service and flexibility, is an excellent fit for the needs
of the federal government. We back this up with over a decade of solid
experience delivering e-Learning, giving agencies confidence in the
long-term success of their programs.
“We are truly excited to be working with the
VA in piloting the Veterans e-Learning Online (VeLO) program. With the
large numbers of veterans returning from tours of duty in Iraq and
Afghanistan, it is increasingly important that we utilize the best
technology to assist them as they re-enter the workforce. We are very
optimistic that the VeLO pilot will demonstrate the value of online
training in achieving this vital goal.”
About the Department of Veterans Affairs
The Department of Veterans Affairs (VA) was established on March 15,
1989, succeeding the Veterans Administration. It is responsible for
providing federal benefits to veterans and their families. Headed by the
Secretary of Veterans Affairs, VA is the second largest of the 15
Cabinet departments and operates nationwide programs for health care,
financial assistance and burial benefits.
Of the 24.3 million veterans currently alive, nearly
three-quarters served during a war or an official period of conflict.
About a quarter of the nation's population, approximately 63 million
people, are potentially eligible for VA benefits and services because
they are veterans, family members or survivors of veterans.
The responsibility to care for veterans, spouses, survivors and
dependents can last a long time. Five children of Civil War veterans
still draw VA benefits. About 440 children and widows of
Spanish-American War veterans still receive VA compensation or pensions.
VA's fiscal year 2005 spending was $71.2 billion —
$31.5 billion for health care, $37.1 billion for benefits, and $148
million for the national cemetery system. President Bush sought $73
billion in the fiscal year 2006 budget for VA, a $1.8 billion increase
in budget authority, primarily for health care and disability
compensation.
About VCampus®
VCampus Corporation (OTCBB:VCMP.OB) provides, through its E-Learning
Solutions division, comprehensive professional development learning
services to government agencies and corporations. Services include
learning management systems, custom course development, online
assessment tools, hosting, e-commerce and complete e-Learning solutions.
VCampus is a leading online learning provider for the U.S. government
and hosts one of the world’s largest learning
portals for a major U.S. government agency serving 250,000 employees.
VCampus has more than a decade of e-Learning experience and has
delivered more than 3.1 million courses to more than 1.1 million
desktops/users. VCampus distributes a courseware library of more than
3,900 Web-based courses.
VCampus also offers leading certification programs in Web-technologies
through its Prosoft Learning division and provides publishing and online
hosting services to globally branded financial and IT professional
certifying bodies such as CFA Institute, Institute of Management
Accountants, (ISC)2 and ISACA through its
Publishing division. VCampus Corporation is headquartered in Reston, Va.
For more information, call 800-915-9298, or visit the VCampus Web site
at www.VCampus.com. "VCampus" is a
registered trademark of VCampus Corporation.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the
meaning of the federal Private Securities Litigation Reform Act of 1995.
Statements contained herein that are not statements of historical fact
are forward-looking. Without limiting the foregoing, references to
future growth or expansion or scheduled product launch dates are
forward-looking, and words such as "anticipates," "believes," "could,"
"estimate," "expect," "intend," “plan,”
"may," "might," "should," "will" and "would," and other forms of these
words or similar words, are intended to identify forward-looking
information. You should read statements that contain these words
carefully because they discuss our future expectations, contain
projections of our future results of operations or of our financial
position, or state other forward-looking information. There might be
events in the future that we are not able to predict accurately or
control, and any forward-looking statements are subject to risks and
uncertainties that could cause our actual results to differ materially.
These risks and uncertainties include: (1) our history of losses,
projection of future losses and our need to raise additional capital;
(2) market acceptance of our new and future products; (3) uncertainties
regarding the successful implementation of our Select Partner Program or
the timely release of products; (4) uncertainties regarding ability to
achieve growth organically or otherwise and to consummate and integrate
any acquisitions, including Prosoft; (5) growing competition; and (6)
our ability to maintain and manage our growth. For additional
information regarding risk factors that could affect our future results,
please refer to the discussions of "Risk and Uncertainties" in our
Annual Report on Form 10-K for the year ended December 31, 2006, and
other SEC filings.