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The Bahamas Financial Services Board and its Partners Team with Rosetta Stone & The Bahamas Ministry of Education to Expand Language Learning Program

(Thomson Reuters ONE via COMTEX) -- 

The Bahamas Financial Services Board and its Partners Team with 

Rosetta Stone & The Bahamas Ministry of Education to Expand Language Learning Program

ARLINGTON, VA (August 27, 2015) -The Bahamas Financial Services Board (BFSB) and the Ministry of Financial Services today announced that they have partnered with the Ministry of Education and language leader Rosetta Stone Inc. (NYSE:RST) to introduce a world language program within public junior and senior high schools throughout The Bahamas. The program builds upon the existing training program through which Rosetta Stone has already helped more than 300 members of the BFSB improve language proficiency.  The expanded program will now make language education available to approximately 200 learners from schools around The Bahamas through a nine-month program utilizing Rosetta Stone's K-12 language solutions. The program will begin in September and continue through the end of the 2015-2016 school year.

"Ideally positioned at the crossroads of the Americas, The Bahamas has benefitted from its many natural advantages.  However, a key ingredient of its success has been and always will be found in the capacity of its people," said BFSB CEO Aliya Allen.  "As we seek to expand economic opportunities for Bahamians, we have to ensure that we are ready to participate in a global job market that is demanding, exacting and highly competitive. Language learning is critical to achieving this goal, and we're thrilled to continue working with Rosetta Stone to help expand its programs to students in our country." 

 

The high school program is part of the BFSB's "Towards a Bilingual Bahamas" initiative, which was created in recognition of the importance of starting this process earlier in the lives of young people who have not entered the job market yet. Added Ms. Allen, "It is a small, but important, start to achieving the vision of a bilingual Bahamas."  Currently, more than 100 financial services adult learners are participating in the 2015 Rosetta Stone program, demonstrating keen interest in expanding their knowledge of a foreign language and eventually gaining fluency.  In previous years, as many as 250 learners have participated. 

 

In recent years, the BFSB has worked towards positioning The Bahamas as a hub for Latin America, highlighting the fact that there is a noticeable dearth of language skills necessary in the Bahamian workforce.  The Ministry of Financial Services of The Bahamas says that bilingual employees are immediately more marketable and can command as much as 10 to 15 percent more in compensation just by virtue of the skill.  This advantage is not confined to strictly the financial services sector; tourism, manufacturing and retail all benefit from the ability to converse with customers in their language. 

 

"This partnership is a great example of collaboration with the public and private sectors of a nation and serves as a model for how leaders can make an impact on the future of their residents through education," said Hector Gomez, Head of Strategic Partnerships in Latin American and Caribbean for Rosetta Stone. "Today's global market has changed the game for workers around the world and The Bahamas is making strides by investing in language training to help its people build the core competencies required to compete in a global workforce."

 

# # #

About Rosetta Stone Inc.

Rosetta Stone Inc. (NYSE: RST) is dedicated to changing people's lives through the power of language and literacy education. The Company's innovative, personalized language and reading programs drive positive learning outcomes in thousands of schools, businesses, government organizations and for millions of individual learners around the world.

Founded in 1992, Rosetta Stone pioneered the use of interactive software to accelerate language learning and is widely recognized today as the industry leader in providing effective language programs. The Company's cloud-based programs allow users to learn online or on-the-go via tablet or smartphone, whether in a classroom, in a corporate setting, or in a personal learning environment. Rosetta Stone is also a leader in the literacy education space, helping millions of students build fundamental reading skills through its Lexia Learning division. Additionally, the Company's Fit Brains business offers personalized brain training programs developed by neuroscientists and award-winning game designers to be fun and help keep your brain sharp.

 

Rosetta Stone is based in Arlington, VA, and has offices and operations around the world. For more information, visit www.rosettastone.com. "Rosetta Stone" is a registered trademark or trademark of Rosetta Stone Ltd. in the United States and other countries.

Media Contacts:

Aliya Allen, CEO, BFSB - info@bfsb-bahamas.com

Michelle Alvarez, Head of Global Communications, Rosetta Stone - malvarez@rosettastone.com

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Rosetta Stone via Globenewswire

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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Rosetta Stone PR's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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