Marshall Cavendish Acquires Learning EDvantage

Singapore, 25th April 2008 - Marshall Cavendish, a member of Times Publishing Limited, announces today its acquisition of Learning EDvantage Pte Ltd (LEAD), the market leader provider of e-learning needs to schools and institutions. The acquisition was inked at a
simple ceremony today, which would see Marshall Cavendish taking up all the shareholding interests of Popular E-Learning Holdings Pte Ltd and Ednovation Pte Ltd representing 69% of the issued share capital of LEAD and thereby increasing Marshall Cavendish's
shareholding interest from 31% to 100%.

"With this acquisition, Marshall Cavendish is set to expand and grow its business further. E-learning is an integral component of the education industry in Singapore. It is opportune that Marshall Cavendish adds this new dimension to value add to its business model in
Education Publishing, "said Shane Armstrong, Senior Group Publisher and Head of Marshall Cavendish Publishing Group.

With the combined strengths of LEAD and Marshall Cavendish, schools and educational institutions in Singapore can look forward to more streamlined and enhanced contents, which harnessed both Marshall Cavendish's strengths in educational publication and etechnology
available already through LEAD.

LEAD has been selling its digital content to the local school market and holds the biggest market share, covering 60 per cent of the primary and 20 percent of the secondary school markets respectively.

"Moving forward, Marshall Cavendish will set up an e-publishing division to further boost our resources to enhance the e-learning business," added Mr Armstrong. This 'marriage' of its traditional education publishing with its e-learning business will boost Marshall Cavendish's position as a fore-runner in the e-learning market amongst schools and further complement its role as the leading educational publisher in Singapore.