| Vancouver, B.C., July 15th, 2021 - CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) ("CIBT" or the " Company") is pleased to report that it has filed on SEDAR its consolidated financial statements and related management's discussion and analysis for its third quarter of fiscal 2021 ended May 31, 2021 (collectively, the "Q3 Filing"). The following is selected financial information for the nine months ended May 31, 2021 ("Q3 2021") and comparative results ("Q3 2020"). Please refer to the Q3 Filing in its entirety, which is available under CIBT's profile at www.sedar.com. All figures are in thousands of Canadian dollars except share and per share data unless otherwise noted . Capitalized terms used but not defined herein have the meanings ascribed to those terms in the management's discussion and analysis for Q3 2021.    "During the first nine months of fiscal 2021, the market sentiment for the education and real estate sector continued to improve although the province of British Columbia remained under a state of emergency," commented Toby Chu, Chairman, President and CEO of CIBT. "The Company concentrated its efforts on streamlining its operations, modifying its business models, and maintaining a steady pace of advertising, marketing, business development, and corporate finance activities, which allowed us to overcome the challenges caused by the COVID-19 pandemic. By focusing on our core businesses, we generated year-to-date topline revenue of nearly $45 million." Key highlights of the Company's Q3 2021 financial results: - Domestic education revenue from Sprott Shaw College grew by 7% from $27.881M to $29.72M
- GECH's real estate development revenue grew by 224% from 0.939M to $3.038M
- Net Income attributable to CIBT shareholders increased by 21%, from $5.595M to $6.755M
- Income Per Share (basic) for CIBT shareholders increased by 13% from $0.08 to $0.09
- EBITDA increased by 28% from $14.375M to $18.471M
- Gain on changes in fair value of investment properties grew by 6% from $8.261M to $8.779M, reflecting a burgeoning real estate market in Metro Vancouver. The value proposition by the GEC® projects enhances the value of CIBT's investment holdings
- Total assets grew by 15% from $452.767M to $518.697M
Toby Chu added, "Effective July 1st, 2021, the British Columbia government lifted many traveling and social gathering restrictions and commenced plans to re-start the economy*1. As a result, our international education divisions have experienced a surge of students registering for the upcoming Fall and Winter semesters. Additionally, our rental facilities received a high volume of booking reservations for Fall 2021. As a result, we expect to boost revenues in our education segment as well as GECH's rental apartment and hotel businesses in fiscal 2022. "Furthermore, Metro Vancouver's real estate sector has experienced an upward trend for eight consecutive months, from September 2020 to April 2021, according to the Real Estate Board of Greater Vancouver*2" continued Mr. Chu. "The rise in prices of real estate properties has boosted the market value of our student housing portfolio and, correspondingly, the book value per CIBT share. During the nine months period ended May 31, 2021, the Company purchased 2.7956 million shares from the open market and cancelled 2.1222 million shares, thereby reducing dilution and market float, while increasing earnings per share." About CIBT Education Group: CIBT is one of Canada's largest education services and academic real estate companies. With a global presence since 1994, CIBT employs nearly 600 staff at 46 business locations and operates a global network of 2,500 recruitment agents. In 2020, the group provided education, student recruitments and accommodation services to over 11,000 students. Its real estate portfolio, including operating assets and development budget, exceeds $1.5 billion. *1 https://www2.gov.bc.ca/gov/content/covid-19/info/restart#plan *2 https://www.rebgv.org/market-watch/monthly-market-report.html CIBT's education subsidiaries include Sprott Shaw College (established in 1903), Sprott Shaw Language College, Vancouver |