New Oriental Announces Pricing of Initial Public Offering on NYSE

BEIJING, Sept. 6 /Xinhua-PRNewswire-FirstCall/ -- New Oriental Education and Technology Group Inc. (NYSE:EDU), the largest provider of private educational services in China, announced today that its initial public offering of 7,500,000 American Depositary Shares (ADSs) has been priced at $15.00 per ADS.

The ADSs, each representing four common shares of New Oriental, will begin trading tomorrow, September 7, 2006, on the New York Stock Exchange under the ticker symbol "EDU."  New Oriental has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ADSs.

Credit Suisse Securities (USA) LLC was the sole global coordinator and acted as joint book-runners with Goldman Sachs (Asia) L.L.C., and Piper Jaffray & Co. acted as a co-manager for the offering.

New Oriental's registration statement relating to these securities was declared effective as of September 6, 2006 by the U.S. Securities and Exchange Commission.  This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

A copy of the prospectus relating to the offering may be obtained from: Credit Suisse Securities (USA) LLC, New York Prospectus Department, One Madison Avenue, New York 10010 NY, United States, Tel: [phone].

About New Oriental

New Oriental is the largest provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence.  New Oriental offers a wide range of educational programs, services and products consisting primarily of English and other foreign language training, test preparation courses for major admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.  For more information about New Oriental, please visit http://english.neworiental.org/ .

  For investor and media inquiries, please contact:

  In China:
   Sisi Zhao
   New Oriental Education and Technology Group Inc.
   Tel    [phone]
   Email: 

   Rory Macpherson
   Ogilvy Public Relations Worldwide
   Tel:    [phone]
   Email: 

  In the United States:
   Thomas Smith
   Ogilvy Public Relations Worldwide
   Tel:   [phone]
   Email: 

DATASOURCE: New Oriental Education and Technology Group Inc.



CONTACT:  In China - Sisi Zhao of New Oriental Education and Technology

Group Inc., [phone], or , or Rory

Macpherson, [phone], or , or In the United

States - Thomas Smith, [phone], or , both of

Ogilvy Public Relations Worldwide, for New Oriental 



Web Site:  http://english.neworiental.org/ 

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