Major Stockholder of ChinaCast Education Corporation Announces Filing of Preliminary Proxy Statement in Support of Director Nominees

Ned Sherwood, a major stockholder of ChinaCast Education Corporation

, announced today that he has filed a preliminary proxy statement with the Securities and Exchange Commission in connection with his solicitation of proxies for ChinaCast's 2011 annual meeting of stockholders. In addition, Mr. Sherwood again calls on ChinaCast to postpone the 2011 annual meeting of stockholders by four weeks to January 20, 2012, so that all stockholders will have adequate time to consider Mr. Sherwood's slate, as well as new information made available by the Company, before they cast their votes at the meeting. the preliminary proxy statement filed today with the SEC, Mr. Sherwood seeks support from ChinaCast's stockholders to elect a slate of six qualified nominees: Mr. Sherwood, a current ChinaCast board member, and co-founder and managing general partner of ZS Fund L.P., a middle market private equity firm. Derek Feng, a private investor and advisor to education companies, and former Executive Vice President at Knowledge Universe, a multi-billion dollar education holding company. Joan Goldsmith, an organizational consultant, mediator and executive coach, and founding director of Index China, a consulting firm working with corporations to successfully do business in China. Brian Krolicki, the Lieutenant Governor and former State Treasurer of Nevada. John T. (Ted) Sanders, the former U.S. Deputy Secretary of Education and the former executive chairman and chief executive officer of Cardean Learning Group. Daniel Tseung, a current ChinaCast board member, founder and a managing director of LionRock Capital, and former Managing Director of Sun Hung Kai Properties Direct Investments Limited, the private equity division of one of Asia's largest conglomerates.