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TAL Education Group Announces Unaudited Financial Results For The Third Fiscal Quarter Ended November 30, 2010

Total share-based compensation expenses that were allocated to related operating costs and expenses amounted to US$1.9 million in the third fiscal quarter of fiscal year 2011. The Company did not incur share-based compensation expenses in the same period of the previous year.

Gross Profit

Gross profit increased by 39.0% to US$10.0 million, from US$7.2 million in the third quarter of fiscal year 2010.

Income from Operations

Income from operations decreased by 1.9% to US$2.4 million, from US$2.5 million in the third quarter of fiscal year 2010. Non-GAAP income from operations, which excluded share-based compensation expenses, increased by 74.9% to US$4.3 million, from US$2.5 million in the third quarter of fiscal year 2010.

Income Tax Expense

Income tax expense was US$0.3 million in third quarter of fiscal year 2011, as compared to US$0.2 million in the third quarter of fiscal year 2010.

Net Income from Continuing Operations

Net income from continuing operations increased by 7.9% to US$2.6 million, from US$2.4 million in the third quarter of fiscal year 2010.

Net Income Attributable to TAL Education Group

Net income attributable to TAL decreased 2.2% to US$2.3 million, from US$2.4 million in the third quarter of fiscal year 2010. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, increased by 77.3% to US$4.3 million, from US$2.4 million in the third quarter of fiscal year 2010.

Basic and Diluted Net Income per ADS

Basic and diluted net income per ADS were US$0.03 and US$0.03, respectively, in the third quarter of fiscal year 2011. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were US$0.06 and US$0.06, respectively.

Loss from Discontinued Operations

During the third quarter, the Company discontinued its operations in Qianjiang and Jianli in Hubei province based on management’s judgment that there will be more potential to focus on our operations in the city of Wuhan. The operating results were reported as discontinued operations. Loss from discontinued operations was US$0.2 million for the third quarter of fiscal year 2011.

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