[New Oriental Announces Formation of Independentecialmmittee STYLE="font-family:Times New Roman" SIZE="2"> Beijing, July20, 2012 STYLE="font-family:Times New Roman" SIZE="2">As previously stated, New Oriental believes that the Muddy Waters reportntains numerous errors of facts, misleadingeculations and malicious interpretations of events. Nevertheless, in order to provide the highest level of transparency to its shareholders, the board of directors of] [New Oriental Announces Senior Management Share Purchase Plan STYLE="font-family:Times New Roman" SIZE="2"> Beijing, July20, 2012 Michael Minhong Yu, Chairman and Chief Executive Officer of New Oriental,mmented, we remainnfident in the long-term prospects of New Orientals business and this share purchase plan demonstrates ournfidence.out New Orientalfe Harbor Statement]