Exhibit 99.2

UNAUDITED PRO FORMA FINANCIAL INFORMATION

On April 17, 2008, the ChinaCast Education Corporation (“the Company”) received confirmation that on April 11, 2008, the Chongqing Municipal Bureau of the Administration for Industry accepted the consummation of the acquisition by Yu Pei Information Technology (Shanghai) Limited, the Company’s wholly owned subsidiary in China, of 80% of Hai Lai Education Technology Limited (“Hai Lai” ) from Beijing Heng Tai Jufu Investment Limited (“Heng Tai”). Hai Lai holds 100% of the Foreign Trade Business College of Chongqing Normal University (“FTBC”) and Hai Yuen Company Limited (“Hai Yuen”), a newly set up services company. FTBC is an independent, for-profit, private university affiliated with Chongqing Normal University. FTBC offers four-year bachelor’s degree and two-year diploma programs in finance, economics, trade, tourism, advertising, IT, music and foreign languages, all of which are fully accredited by the Ministry of Education.

The Company paid RMB480 million (USD $68.6 million, (using an exchange rate of USD$1 equal to RMB7)) (the “Purchase Price”) for 80% of Hai Lai. 50% of the Purchase Price was paid by April 7, 2008, 45% of the Purchase Price will be paid by the second quarter of 2008, and 5% of the Purchase Price will be paid on August 8, 2008. The source of the cash used for the acquisition was from working capital of the Company.

The following unaudited pro forma consolidated condensed financial statements reflect the acquisition using the purchase method of accounting. The pro forma adjustments are based upon available information and assumptions that the Company believes are reasonable. The pro forma adjustments are preliminary and have been prepared to illustrate the estimated effect of the acquisition. Consequently, the amounts reflected in the unaudited pro forma consolidated condensed financial statements are subject to change, and the final amounts may differ substantially.

The unaudited pro forma consolidated condensed balance sheet as of March 31, 2008 gives effect to the Hai Lai acquisition as if it was completed on that date, and was derived from the historical unaudited balance sheet of Hai Lai as of March 31, 2008, consolidated with ChinaCast’ historical unaudited balance sheet as of March 31, 2008.

The unaudited pro forma consolidated condensed statement of operations for the year ended December 31, 2007 illustrates the effect of the acquisition of Hai Lai as if it had occurred on January 1, 2007, and was derived from the historical audited statement of operations for Hai Lai for the year ended December 31, 2007, consolidated with ChinaCast’ historical audited statement of operations for the year ended December 31, 2007.

The unaudited pro forma consolidated condensed statement of operations for the three months ended March 31, 2008 illustrates the effect of the acquisition of Hai Lai as if it had occurred on January 1, 2008 and combines the historical unaudited statement of operations of ChinaCast for the three months ended March 31, 2008 and the historical unaudited statement of operations of Hai Lai through the date of acquisition.

The pro forma consolidated condensed financial statements should be read in conjunction with the historical audited financial statements and notes thereto of ChinaCast contained in its 2007 Annual Report on Form 10-K SB, filed with the Securities and Exchange Commission on March 31, 2008, the historical unaudited financial statements and notes thereto of ChinaCast contained in its March 31, 2008 Quartely Report on Form 10-Q filed with the Securities and Exchange Commission on May 12, 2008 and the historical audited financial statements and notes thereto of Hai Lai which are included as Exhibit 99.1 to this Current Report on Form 8-K. The unaudited pro forma consolidated condensed financial statements do not include any pro forma adjustments relating to costs of integration that the consolidated company may incur as such adjustments.

The pro forma information is presented for illustrative purposes only and is not necessarily indicative of the operating results or financial position that would have occurred if the acquisition had occurred as of the date or during the period presented nor is it necessarily indicative of future operating results or financial position.

UNAUDITED PRO FORMA CONSOLIDATED CONDENSED BALANCE SHEET
MARCH 31, 2008

	Historical			Historical		Pro Forma					Pro Forma
	ChinaCast			Hai Lai		Adjustments			Notes		Consolidated
	RMB			RMB		RMB					RMB
	(In thousands, except share-related data)
Assets
Cash and cash equivalents		135,814			12,693		—					148,507
Term deposits		621,076			—		(480,000	)	(a	)		141,076
Accounts receivable, net		53,682			—		—					53,682
Inventory		1,993			—		—					1,993
Income taxes recoverable					—		—					—
Prepaid expenses and other current assets		9,187			1,790		—					10,977
Amount due from related parties		3,448			—		—					3,448
Total current assets		825,200			14,483		(480,000	)				359,683
Non-current assets:
Non-current deposits		1,087			—		—					1,087
Property and equipment, net		10,387			195,014		20,523		(c	)		225,924
Land use rights, net		—			50,850		86,275		(c	)		137,125
Acquired intangible assets, net		21,218			—		45,049		(d	)		66,267
Long term investments		10,757			—		—					10,757
Non-current advances to a related party		111,097			—		—					111,097
Goodwill		1,652			—		284,534		(b	)		286,186
Total assets		981,398			260,347		(43,619	)				1,198,126
Liabilities, minority interest and shareholders’ equity
Current liabilities:
Account payable		19,256			—		—					19,256
Deferred revenue		—			35,452		—					35,452
Dividends payable		—			1,186		—					1,186
Accrued expenses and other current liabilities		56,831			49,405		—					106,236
Income tax payable		34,441			12,909		(6,470	)	(k	)		40,880
Current portion of capital lease obligation		—			—		—
Amount due to a shareholder		—			—		—
Total current liabilities		110,528			98,952		—					203,010
Notes payable		—			78,400		—					78,400
Deferred tax liability		—			—		22,777		(j	)		22,777
Unrecgnized tax benefits		28,016			—		6,470		(k	)		34,486
Total non-current liabilites		28,016			78,400		22,777					135,663
Total liabilities		138,544			177,352		22,777					338,673
Minority interests		20,896			—		16,599		(i	)		37,495
Shareholders’ equity:
Share capital		21			25,000		(25,000	)	(e	)		21
Additional paid-in capital		778,119			9,719		(9,719	)	(e	)		778,119
Statutory reserve		17,433			8,354		(8,354	)	(e	)		17,433
Accumulated other comprehensive loss		(5,388	)		—							(5,388	)
Retained earnings (Accumulated deficit)		31,773			39,922		(39,922	)	(e	)		31,773
Total shareholders’ equity		821,958			82,995		(82,995	)				821,958
Total liabilities, minority interest and shareholders’ equity		981,398			260,347		(43,619	)				1,198,126

UNAUDITED PRO FORMA CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31, 2008

	Historical			Historical			Pro Forma					Pro Forma
	ChinaCast			Hai Lai			Adjustments			Notes		Consolidated
	RMB			RMB			RMB					RMB
	(In thousands, except share-related data)
Revenues:
Service		40,205			25,064			—					65,269
Equipment		19,289			—			—					19,289
		59,494			25,064			—					84,558
Cost of revenues:
Service		(11,986	)		(11,119	)		(6,607	)		(g) (h)		(29,712	)
Equipment		(19,105	)		—			—					(19,105	)
		(31,091	)		(11,119	)		(6,607	)				(48,817	)
Gross profit		28,403			13,945			(6,607	)				35,741
Operating (expenses) income:
Selling and marketing expenses		(3,487	)		—			—					(3,487	)
General and administrative expenses		(18,216	)		(134	)		—					(18,350	)
Foreign exchange loss		(465	)		—			—					(465	)
Management service fee		798			—			—					798
Total operating expenses, net		(21,370	)		(134	)		—					(21,504	)
Income from operations		7,033			13,811			(6,607	)				14,237
Impairment loss on cost method investment		—			—			—					—
Gain on disposal of cost method investment		—			—			—					—
Interest income		5,852			6			(3,765	)		(f)		2,093
Interest expense		(4	)		—			—					(4	)
Other expense		—			—			—					—
Income before provision for income taxes, earnings in equity investments, and minority interest		12,881			13,817			(10,372	)				16,326
Provision for income taxes		(3,859	)		(2,078	)		991			(l)		(4,946	)
Net income before earnings in equity investments and minority interest		9,022			11,739			(9,381	)		(l)		11,380
Earnings in equity investments		(408	)		—			—					(408	)
Minority interest		(384	)		—			(2,348	)		(i)		(2,732	)
Net income		8,230			11,739			(11,729	)				8,240
Net income per share
Basic		0.30											0.30
Diluted		0.29											0.29
Weighted average shares used in computation:
Basic		27,297,256											27,297,256
Diluted		28,292,257											28,292,257

UNAUDITED PRO FORMA CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2007

	Historical			Historical			Pro Forma					Pro Forma
	ChinaCast			Hai Lai			Adjustments			Notes		Consolidated
	RMB			RMB			RMB					RMB
	(In thousands, except share-related data)
Revenues:
Service		148,903			85,289			—					234,192
Equipment		38,827			—			—					38,827
		187,730			85,289			—					273,019
Cost of revenues:
Service		(45,823	)		(45,779	)		(23,001	)	(g	) (h)		(114,603	)
Equipment		(39,678	)		—			—					(39,678	)
		(85,501	)		(45,779	)		(23,001	)				(154,281	)
Gross profit		102,229			39,510			(23,001	)				118,738
Operating (expenses) income:
Selling and marketing expenses		(6,640	)		—			—					(6,640	)
General and administrative expenses		(55,145	)		(949	)		—					(56,094	)
Foreign exchange loss		(4,179	)		—			—					(4,179	)
Management service fee		18,035			—			—					18,035
Total operating expenses, net		(47,929	)		(949	)		—					(48,878	)
Income from operations		54,300			38,561			(23,001	)				69,860
Impairment loss on cost method investment		—			—			—					—
Gain on disposal of cost method investment		10,270			—			—					10,270
Interest income		20,156			304			(13,286	)	(f	)		7,174
Interest expense		(38	)		(1,879	)		—					(1,917	)
Dividends received		—			29			—					29
Income before provision for income taxes, earnings in equity investments, and minority interest		84,688			37,015			(36,287	)				85,416
Provision for income taxes		(21,263	)		(5,612	)		3,450		(l	)		(23,425	)
Net income before earnings in equity investments and minority interest		63,425			31,403			(32,837	)				61,991
Earnings in equity investments		(1,155	)		—			—					(1,155	)
Minority interest		(3,242	)		—			(6,281	)	(i	)		(9,523	)
Income from continuing operations		59,028			31,403			(39,118	)				51,313
Discontinued operations
Income from discontinued operations, net of taxes		(139	)		—			—					(139	)
Minority interest in discontinued operations, net of taxes		(230	)		—			—					(230	)
Loss on discontinued operations		(369	)		—			—					(369	)
Net income		58,659			31,403			(39,118	)				50,944
Net income per share
Basic		2.21											1.92
Diluted		2.10											1.82
Weighted average shares used in computation:
Basic		26,567,240											26,567,240
Diluted		27,975,731											27,975,731

NOTES TO UNAUDITED PRO FORMA CONSOLIDATED CONDENSED
STATEMENTS OF OPERATIONS

     The unaudited pro forma consolidated condensed statements of operations for the year ended December 31, 2007 and the three months ended March 31, 2008 were prepared by combining the Company’s historical statements of operations for the year ended December 31, 2007 and the three months ended March 31, 2008 with GFT’s historical results from continuing operations for the year ended December 31, 2007 and the period from January 1, 2008 to March 5, 2008, respectively, giving effect to the acquisition as though it was completed on January 1, 2007. Certain historical information of GFT has been reclassified to conform to the presentation of the Company’s historical statements.

1. Acquisition

     On April 17, 2008, the ChinaCast Education Corporation (“the Company”) received confirmation that on April 11, 2008, the Chongqing Municipal Bureau of the Administration for Industry accepted the consummation of the acquisition by Yu Pei Information Technology (Shanghai) Limited, the Company’s wholly owned subsidiary in China, of 80% of Hai Lai Education Technology Limited (“Hai Lai” ) from Beijing Heng Tai Jufu Investment Limited (“Heng Tai”). Hai Lai holds 100% of the Foreign Trade Business College of Chongqing Normal University (“FTBC”) and Hai Yuen Company Limited (“Hai Yuen”), a newly set up services company. FTBC is an independent, for-profit, private university affiliated with Chongqing Normal University. FTBC offers four-year bachelor’s degree and two-year diploma programs in finance, economics, trade, tourism, advertising, IT, music and foreign languages, all of which are fully accredited by the Ministry of Education.

     The Company paid RMB480 million (USD $68.6 million, (using an exchange rate of USD$1 equal to RMB7)) (the “Purchase Price”) for 80% of Hai Lai. 50% of the Purchase Price was paid by April 7, 2008, 45% of the Purchase Price will be paid by the second quarter of 2008, and 5% of the Purchase Price will be paid on August 8, 2008. The source of the cash used for the acquisition was from working capital of the Company.

     The Company has completed a preliminary allocation of the purchase price to the fair value of assets acquired and liabilities assumed at the date of acquisition included as adjustment notes 2(b). It is possible that the purchase price allocation will be adjusted upon finalization of the accounting for the acquired assets.

     The amortizable intangibles include RMB45.0 million of acquired customer relationship. Useful live of 41 months has been assigned to the customer relationship intangible. The identifiable intangible asset and goodwill are not deductible for tax purposes.

2. Pro forma adjustments made by ChinaCast in connection with the preparation of the unaudited pro forma consolidated condensed balance sheet as of March 31, 2008 and the unaudited pro forma consolidated condensed statement of operations for the year ended December 31, 2007 and three months ended March 31, 2008 are as follows:

(a)	To reduce term deposits on the RMB480 million of cash utilized by the Company to fund the acquisition
(b)	Purchase price allocation:
	The purchase price for the acquisition amounted to RMB480 million. The estimated purchase price has been preliminarily allocated as follows based on the assets and liabilities acquired as of March 31, 2008:
	Estimated fair value of net tangible assets acquired and liabilities assumed:

	RMB
Cash		12,693
Other current assets		1,790
Property and equipment and land use rights		245,864
Fair value adjustment for property and equipment and land use rights		106,798
Deferred revenue		(35,452	)
Other current liabilities		(63,500	)
Bank loan		(78,400	)
				189,793
Intangible assets acquired
Customer relationship				45,049
Minority interest				(16,599	)
Deferred tax liability				(22,777	)
Goodwill				285,448
Total purchase price				480,000

(c)	To adjust fair value of property and equipment and land use rights based upon the preliminary allocation of the purchase price
(d)	To record intangible asset, namely customer relationship, obtained in the transaction based upon the preliminary allocation of the purchase price. Customer relationship is related to existing students who will continue their courses until graduation.
(e)	To eliminate Hai Lai’s common stock, additional paid-in-capital, statutory reserve and retained earnings
(f)	To reduce interest income on the RMB480 million of cash utilized by the Company to fund the acquisition
(g)	To record the amortization of expense of intangible asset obtained in the transaction based upon the preliminary allocation of the purchase price. The amount being amortized for customer relationship is computed using the accelerated amortization method based on the estimated progression of the students through the respective courses, giving consideration to the revenue and cash flow associated.
(h)	To record the increase in depreciation of property and equipment and amortization of land use rights, after fair value adjustments, based upon the preliminary allocation of the purchase price
(i)	To record minority interest in Hai Lai
(j)	To record deferred tax liabilities as a result of the fair value adjustments for property and equipment, land use rights and the intangible asset
(k)	To record unrecognized tax benefits in accordance with the FASB issued Interpretation No. 48 “Accounting for Uncertainty in Income Taxes — an interpretation of SFAS No. 109” (“FIN 48”)
(l)	To reflect the net tax effects of temporary differences between the carrying amount of property and equipment, land use rights and the intangible asset for financial reporting purposes and the amounts used for income tax purposes.