VCMP VCampus Corporation (CE)

VCampus Corporation (OTCBB:VCMP.OB), a leading provider of technology-based learning solutions for corporations, government agencies and associations, today announced that the Department of Veterans Affairs has awarded a contract to VCampus to support its Web-based training initiatives through the operation of VA Learning Online (VALO). Additionally, the contract provides for the development of a Veterans e-Learning Online (VeLO) pilot program that provides selected veterans with vocationally relevant online training opportunities. The value of the contract to VCampus is approximately $2 million. Under the terms of the contract, VCampus will design, deploy and host VA Learning Online (VALO), an online learning environment that makes VA-provided or -developed courses, together with VCampus' certification preparation and other courses from its library, readily available to up to 350,000 VA employees, contractors, volunteers and veterans at all VA locations. VALO, first implemented VA-wide in 2002 through VCampus, has become a stable pillar of the VA�s educational activities. The contract also provides for VCampus to design, deploy and host a Veterans e-Learning Online (VeLO) pilot program for veterans in the Compensated Work Therapy/Transitional Residence Program. The goal of this program is to provide veterans with the opportunity to increase the knowledge and skills necessary to gain employment through access to a library of vocationally relevant online courses. The VA contract underscores VCampus' continued support of online learning initiatives in the federal government. The Social Security Administration, Department of Homeland Security and General Services Administration are among the numerous government agencies that have used the VCampus Learning Management System to support their human capital management initiatives. "VA's vision to increase the quality of its workforce and help establish the Department as an employer of choice through e-Learning is exactly on target with the intent of Executive Order 13111," said Ronald E. Freedman, VCampus Senior Vice President of e-Learning Solutions. "VCampus' full-service e-Learning model, which meshes the rapid-implementation processes of an outsourced solution with a heavy emphasis on service and flexibility, is an excellent fit for the needs of the federal government. We back this up with over a decade of solid experience delivering e-Learning, giving agencies confidence in the long-term success of their programs. �We are truly excited to be working with the VA in piloting the Veterans e-Learning Online (VeLO) program. With the large numbers of veterans returning from tours of duty in Iraq and Afghanistan, it is increasingly important that we utilize the best technology to assist them as they re-enter the workforce. We are very optimistic that the VeLO pilot will demonstrate the value of online training in achieving this vital goal.� About the Department of Veterans Affairs The Department of Veterans Affairs (VA) was established on March 15, 1989, succeeding the Veterans Administration. It is responsible for providing federal benefits to veterans and their families. Headed by the Secretary of Veterans Affairs, VA is the second largest of the 15 Cabinet departments and operates nationwide programs for health care, financial assistance and burial benefits. Of the 24.3 million veterans currently alive, nearly three-quarters served during a war or an official period of conflict. About a quarter of the nation's population, approximately 63 million people, are potentially eligible for VA benefits and services because they are veterans, family members or survivors of veterans. The responsibility to care for veterans, spouses, survivors and dependents can last a long time. Five children of Civil War veterans still draw VA benefits. About 440 children and widows of Spanish-American War veterans still receive VA compensation or pensions. VA's fiscal year 2005 spending was $71.2 billion � $31.5 billion for health care, $37.1 billion for benefits, and $148 million for the national cemetery system. President Bush sought $73 billion in the fiscal year 2006 budget for VA, a $1.8 billion increase in budget authority, primarily for health care and disability compensation. About VCampus� VCampus Corporation (OTCBB:VCMP.OB) provides, through its E-Learning Solutions division, comprehensive professional development learning services to government agencies and corporations. Services include learning management systems, custom course development, online assessment tools, hosting, e-commerce and complete e-Learning solutions. VCampus is a leading online learning provider for the U.S. government and hosts one of the world�s largest learning portals for a major U.S. government agency serving 250,000 employees. VCampus has more than a decade of e-Learning experience and has delivered more than 3.1 million courses to more than 1.1 million desktops/users. VCampus distributes a courseware library of more than 3,900 Web-based courses. VCampus also offers leading certification programs in Web-technologies through its Prosoft Learning division and provides publishing and online hosting services to globally branded financial and IT professional certifying bodies such as CFA Institute, Institute of Management Accountants, (ISC)2 and ISACA through its Publishing division. 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 of VCampus Corporation. 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For additional information regarding risk factors that could affect our future results, please refer to the discussions of "Risk and Uncertainties" in our Annual Report on Form 10-K for the year ended December 31, 2006, and other SEC filings.