29 April 2020

Starcrest Education The Belt & Road Limited

("Starcrest" or the "Company" or the "Group")

Directorate Changes

Starcrest Education The Belt & Road Limited (LSE: OBOR), the international developer and operator of education services in Europe, is pleased to announce the appointment of Mr. Luo Peng to the Board as Executive Director with immediate effect. Mr. Zhu Xingchen will step down from his role as Executive Director with immediate effect.

Mr. Luo Peng is a Chinese entrepreneur who is at the forefront of the digital economy. Mr. Luo currently serves as the Chairman and Founder of diversified investment group Fubao Group as well as holding a number of Executive and Non-Executive Directorships in various companies and organisations.

Prior to forming Fubao Group, Mr. Luo worked for Truck Alliances, serving as Chief Operating Officer and Chief Executive Officer, where he helped to create China's largest online highway logistics information platform. In 2017, Truck Alliances merged with another unicorn to form the Man Gang Group, which is ranked as one of China's top ten leading companies within the digital economy, currently valued at more than $6 billion.

Mr. Luo has also held social positions such as the Representative of the National People's Congress and the Executive Committee of the All-China Federation of Industry and Commerce. Mr. Luo graduated from the Department of Civil Engineering of Southwest Jiaotong University in 1997 with a first class honour's degree in Engineering.

John McLean OBE, Non-Executive Chairman, commented: "I am delighted to welcome Mr. Luo to the Board at this transitional period in the Company's development. Mr. Luo brings a wealth of knowledge and experience, as well as an extensive network base, which will no doubt provide the Company significant benefit.

"I would also like to express my thanks to Mr. Zhu for his invaluable contribution to the Company. We all wish him the very best in his future endeavours."

There are no further matters to be disclosed in accordance with LR 9.6.13.

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Notes to editors:

Starcrest is an international developer and operator of education services in Europe. The newly formed entity has been established to seek acquisition opportunities in the international education sector. 

The Company intends to capture opportunities arising from the 'One Belt, One Road' ("OBOR") initiative, a foreign policy and economic strategy of the Chinese Government. The term derives from the Silk Road, the ancient trade route, and encompasses the overland 'Silk Road Economic Belt' and the '21st-Century Maritime Silk Road,' concepts introduced by Chinese President Mr Xi Jinping in 2013. These are the two major axes along which China proposes to economically link Europe to China through countries across Eurasia and the Indian Ocean. The OBOR initiative also links to Africa and Oceania.

Starcrest listed on the Main Market of the London Stock Exchange on 31 January 2019 under the ticker symbol (LSE: OBOR). Further information can be found on the Company's website at https://www.starcresteducation.com