Noah Announces Share Repurchase Program of $15M ADS and Management Changes

Noah Education Holdings Ltd. NED today announced that the board of directors of the Company has authorized a new program to repurchase up to US$15 million American Depositary Shares, each representing one Noah ordinary share, on or before June 30, 2013. The share repurchase program will be funded with the Company's available working capital. As of March 31, 2011, the Company had cash, cash equivalents and short-term investments of RMB491 million (US$75 million), representing cash per ADS of US$2.03.