New York Institute of Finance and VCampus Partner to Develop Online Exam Prep Program for New Research Analyst Qualification Exam

Business Wire, Oct 20, 2004

RESTON, Va. -- New NASD Ruling Requires All Research Analysts to Take New Qualifying Exam by April 2005

New York Institute of Finance, the world's premier provider of financial training to financial services firms and corporations, and VCampus Corporation (NASDAQ:VCMP), a provider of comprehensive e-Learning publishing and hosting services to corporations, government agencies, associations and higher education organizations, today announced plans to develop and deliver an online curriculum to support NASD's new Research Analyst Qualification exam, also known as the Series 86/87 exam.

The Research Analyst Qualification exam is designed to measure the knowledge, skills and abilities associated with the critical job functions of research analysts in securities firms. As of April 4, 2005 anyone who is primarily responsible for the preparation of the substance of a research report, or whose name appears on a research report must pass the new examination. In addition, anyone currently functioning as a research analyst also has until April 2005 to pass the exam.

New York Institute of Finance is the latest in a series of organizations that have joined the VCampus Select Partner(TM) Program. Created specifically with professional certifications and designations in mind, the program allows select providers of professional training to partner with an experienced e-Learning company to co-publish high quality online courseware thereby expanding the options for professionals looking to stay current and advance in their careers.

New York Institute of Finance currently offers a variety of live, instructor-led exam preparation programs including the Chartered Financial Analyst (CFA) and Series 7 exams. The Series 86/87 is the first exam prep course that New York Institute of Finance is offering in both live and online formats. The new online curriculum is expected to launch in February 2005 and will be available to individual purchasers for $495 with volume discounts available. "VCampus has been a partner of ours in delivering online courseware for many years, and we are very pleased to be embarking on this new project with them. With the rush to take the exam before the April 2005 deadline, the online program offers our clients an excellent alternative to setting aside time to come to class," said Mark Malcomson, President of New York Institute of Finance.

"As the NASD deadline approaches, the new online curriculum will give Research Analysts who are impacted by the ruling a flexible and convenient way to prepare for the Series 86/87 exam. Whether taken alone or in conjunction with a live session, online learning is an effective way to ensure successful Series 86/87 exam preparation," said Nat Kannan, Chairman and CEO of VCampus Corporation. "We are truly excited to be expanding our six-year relationship with New York Institute of Finance and are delighted that they have chosen to become a Select Partner(TM)."

While many of the licensing exams required in the securities industry demand knowledge of how the industry works, the Series 86/87 is unique in that it requires demonstrating the skills and abilities deemed critical to the successful performance of the research analyst function. For the purposes of the NASD, a research analyst includes "a member, an allied member, or employee who is primarily responsible for the preparation of the substance of a research report and/or whose name appears on such a report."

About New York Institute of Finance

New York Institute of Finance is the world's premier provider of financial training to the banking, financial services, and corporate sectors. Originally founded more than 80 years ago by the New York Stock Exchange, New York Institute of Finance is a division of Pearson Education. Educating 100 million people worldwide, Pearson Education is the global leader in educational publishing. With brands such as Prentice Hall, Scott Foresman, Pearson Education Technologies, Pearson NCS, FT Knowledge and many others, Pearson Education provides quality content, assessment tools and educational services in all available media, spanning the learning curve from birth through college and beyond to the professional. Pearson Education is part of Pearson, the international media company, whose businesses also include the Financial Times Group and the Penguin Group.

About VCampus(R)

VCampus Corporation (NASDAQ:VCMP), a provider of end-to-end e-Learning services, helps organizations that offer professional certifications and credentials unlock the value of their traditional branded course content. Through its innovative Select Partner(TM) Program, VCampus repurposes value-added training content for online delivery to enhance and support professional development programs. The Select Partner Program provides custom course development, publishing, hosting, e-commerce, reporting, account support and marketing services. With over a decade of e-Learning experience, VCampus has delivered 2.8 million courses to 835,000 desktops/users in associations, non-profits, corporations, government agencies and higher education institutions. VCampus distributes a courseware library of more than 4,500 web-based courses. VCampus Corporation is headquartered in Reston, VA. For more information, call 800-915-9298, or visit the VCampus Web site at www.vcampus.com. "VCampus" is a registered trademark and "Select Partner" is a trademark of VCampus Corporation.