IBT enters Welsh market

Churchlands-based education provider IBT Education Ltd has signed an agreement with Wales' Swansea University to establish a pathway program provider for students from outside the European Union, the company's third UK venture, it has announced.

The full text of a company announcement is pasted below

IBT Education Limited (ASX: IBT) and Swansea University (the "University") are pleased to announce the signing of an agreement to create International College Wales Swansea in South Wales.

International College Wales Swansea ("ICWS") will offer pathway programmes to students primarily from outside the European Union.

IBT Chief Executive Officer Rod Jones said that the agreement to establish International College Wales Swansea would provide substantial academic and financial benefits for Swansea University.

"By providing IBT's pathway and pre-university programmes to international students, ICWS will ensure that a much larger group of people will be able to be part of the unique student experience that Swansea University can offer," Mr Jones said.

"Based at the University's stunning campus overlooking Swansea Bay, the college will complement the quality graduate and postgraduate programmes on offer at the University."

"ICWS is expected to commence teaching in September 2008 and offer a select range of pathway courses which will articulate to the University's graduate and postgraduate courses."

"ICWS will target students from outside the EU and this initiative will allow the University to continue the expansion of its international student base as well as deliver a new revenue stream for the University."

"We believe the new college will present substantial long-term benefits for the University, its students and its academic staff, as has been demonstrated by our successful long-term partnerships with other universities in Australia, Canada and the UK."

Professor Richard B Davies, Vice-Chancellor of Swansea University, said that he was delighted to attract IBT as the University's strategic partner for the development of ICWS.

"Swansea University is proud to attract students from all over the world and to have been voted (in the 2005 Times Higher Education Supplement Awards) the University providing the best student experience in the UK1," Professor Davies said.

"We believe the establishment of International College Wales Swansea will increase the participation of international students at Swansea University, foster a more fulfilling overall student experience for our international students and ensure that Swansea University remains one of the first options for students from abroad seeking to study in the United Kingdom."

"ICWS will also contribute significantly to the strong sense of community that the University embraces by offering new opportunities not only for students, but the entire campus community including the professional teaching staff."

"IBT is a well established and internationally proven managed campus and pathway college operator, and we believe that a partnership with them to create ICWS will add significant value to the long-term success of Swansea University."

"I urge everyone at Swansea University to embrace this new and important initiative."

ICWS will be IBT's first college in Wales and the third in the United Kingdom.

Mr Jones said that the creation of ICWS is an important step in the international expansion of IBT's University Programmes division.

"This is an exciting time for IBT, and today's announcement again demonstrates the significant value that can be created through long-term partnerships with forward-thinking universities."

The terms of the agreement signed with Swansea University follows the template established by IBT with other university partners around the world.

Set-up costs associated with the establishment of ICWS are not expected to have a material impact on earnings in the current financial year.