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Tengtu International Reports $3.3 Million in New Contracts; Company Reinforces Collectibility of New Contracts

Business Wire - October 25, 2004

TORONTO & BEIJING -- Tengtu International Corp. (OTCBB: TNTU) reported today reported that Tengtu China, on behalf of Tengtu United, has signed contracts for RMB $27.5 million, or U.S. $3.3 million. The new contracts include approximately RMB $17.5 million awarded under the Western Rural School Project since August. Additionally the company received RMB $9.0 million under Phase II of the Jiangxi Central Rural Schools Distance Learning Project, and approximately RMB $1 million in other projects.

As previously disclosed, the PRC Ministry of Education recently announced that the government would be providing an additional allocation of resources of RMB $20 million (USD $2.4 million) annually to assist elementary and middle schools in the Western Rural Project to purchase learning and teaching content addressing the new curriculum requirements in China. Approximately one year ago the government announced a new funding program of RMB $10 billion (USD $1.2 billion) over 5 years to fund the modernization and content needs of China's western rural schools. The new direct funding programs provide greater predictability and improve the collectibility of receivables, as the program pays directly to the winning bidder.

Separately, the award of the RMB $9.0 million in contracts for Phase II of the Jiangxi Central Rural Schools Distance Learning Project (Jiangxi Phase II Project) is to provide hardware, software and training to 525 schools. The Jiangxi Phase II Project is the first project allocated by a provincial government for the development of central rural primary school distance learning (?).

"We are confident in the forward growth and momentum of the company," stated Dr. Liu, recently appointed interim chairman of Tengtu United. "The opportunities, in addition to the western rural school markets, are significant nationally and we are achieving increasing market success with the Microsoft/Tengtu product and cooperation. The resolution of the issues cited in the recent filings of the company will allow us to focus and execute our strategies for growth."

Established in 1996, Tengtu International Corp. is the leading provider of integrated education software and distance learning solutions in the People's Republic of China. Its wholly owned subsidiary has been chosen by China's Ministry of Education to be the operating partner in the deployment of China's national education portal and distance learning network (CBERC) to make computerized education available to 250 million students in China's primary and secondary schools.

For more information please visit WWW.TENGTU.COM. To be added to Tengtu's email list for Company news, please send your email address to INFO@TENGTU.COM.

Portions of this document include "forward-looking statements", which may be understood as any statement other than a statement of historical fact. Forward-looking statements contained in this document are made pursuant to the safe harbor provisions of the private securities litigation reform act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from management's expectations and projections expressed in this document. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's annual report on form 10-K and other reports filed with the Securities and Exchange Commission.

TORONTO & BEIJING -- Tengtu International Corp. (OTCBB: TNTU) reported today reported that Tengtu China, on behalf of Tengtu United, has signed contracts for RMB $27.5 million, or U.S. $3.3 million. The new contracts include approximately RMB $17.5 million awarded under the Western Rural School Project since August. Additionally the company received RMB $9.0 million under Phase II of the Jiangxi Central Rural Schools Distance Learning Project, and approximately RMB $1 million in other projects.

As previously disclosed, the PRC Ministry of Education recently announced that the government would be providing an additional allocation of resources of RMB $20 million (USD $2.4 million) annually to assist elementary and middle schools in the Western Rural Project to purchase learning and teaching content addressing the new curriculum requirements in China. Approximately one year ago the government announced a new funding program of RMB $10 billion (USD $1.2 billion) over 5 years to fund the modernization and content needs of China's western rural schools. The new direct funding programs provide greater predictability and improve the collectibility of receivables, as the program pays directly to the winning bidder.

Separately, the award of the RMB $9.0 million in contracts for Phase II of the Jiangxi Central Rural Schools Distance Learning Project (Jiangxi Phase II Project) is to provide hardware, software and training to 525 schools. The Jiangxi Phase II Project is the first project allocated by a provincial government for the development of central rural primary school distance learning (?).

"We are confident in the forward growth and momentum of the company," stated Dr. Liu, recently appointed interim chairman of Tengtu United. "The opportunities, in addition to the western rural school markets, are significant nationally and we are achieving increasing market success with the Microsoft/Tengtu product and cooperation. The resolution of the issues cited in the recent filings of the company will allow us to focus and execute our strategies for growth."

Established in 1996, Tengtu International Corp. is the leading provider of integrated education software and distance learning solutions in the People's Republic of China. Its wholly owned subsidiary has been chosen by China's Ministry of Education to be the operating partner in the deployment of China's national education portal and distance learning network (CBERC) to make computerized education available to 250 million students in China's primary and secondary schools.

For more information please visit WWW.TENGTU.COM. To be added to Tengtu's email list for Company news, please send your email address to INFO@TENGTU.COM.

Portions of this document include "forward-looking statements", which may be understood as any statement other than a statement of historical fact. Forward-looking statements contained in this document are made pursuant to the safe harbor provisions of the private securities litigation reform act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from management's expectations and projections expressed in this document. Certain factors that can affect the Company's ability to achieve projected results are described in the Company's annual report on form 10-K and other reports filed with the Securities and Exchange Commission.

COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group

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