TENGTU INTERNATIONAL REPORTS 3RD QUARTER PROFIT AND REVENUE GROWTH

Company Prepares for Operating Role and New Revenue Growth in Chinas Education Portal Development

TORONTO & BEIJING...May 21, 2002... Tengtu International Corp. (OTCBB: TNTU), a developer, marketer, distributor and integrator of distance learning solutions and e-education software, announced today third quarter profit and revenue growth for the three months ended March 31, 2002.

Sales for the three months ended March 31, 2002, the third quarter of the 2002 fiscal year, rose to $3,485,665 compared with $1,450,879 for the third quarter of 2001. For the nine months, sales increased nearly four-fold to $11,955,379 when compared with $2,953,704 for the year-ago period.

Tengtu reported a small net profit of $50,554 for the third quarter after deducting $358,712 in research, depreciation and amortization expenses. This compares with a net loss of $(238,776) in 2001 after deducting research, depreciation and amortization expenses of $13,531. This net income represents $0.00 per share based on 48,658,990 basic shares outstanding and compared with a net loss of $ (0.01) per share on 24,146,972 basic shares outstanding in the year ago period. For the nine months, Tengtu reported net income of $736,455, or $0.02 per share, on 48,636,028 basic shares outstanding, compared with a loss of $(2,403,357), or $(0.10) per share, on 24,072,849 basic shares outstanding for the first nine months of fiscal 2001.

These results are a strong indicator of the stable underpinnings of the Company and the execution of its business strategies in regard to the opportunities in China" stated John Watt, Tengtu President.
In this quarter the Company was fully engaged in preparing for its operating role and deployment with regard to Chinas national e-education/distance learning portal and provincial portals. The school system was also closed for holidays in this quarter, affecting the installation and sales of Tengtus Total Solution" software applications. The Company still managed steady sales growth while laying the foundation for future growth from two new revenue streams: recurring annual connectivity fees and user/service fees that will be generated from the operation of the national and provincial portal systems. The consolidation of these opportunities positions Tengtu on a significant growth curve for its Total Solution" sales and revenues as an operator and content provider in Chinas national e-education market", Mr Watt added.
We have managed the Companys resources and executed well in meeting the opportunities facing the Company", stated Chairman and CEO of Tengtu China, Fan Qi Zhang.
Our collection of receivables is improving quarter to quarter and we continue to work with our partners and the Ministry of Education to significantly improve this. We are confident in the solutions that will be implemented. At the same time the fundamentals and the business model are proving to be sound and profitable and will only improve as we make measured adjustments in this early history of the Company in preparing it for the build out ahead," Mr. Zhang concluded.

TENGTU-INTERNATIONAL CORP.

Consolidated Statement of Operations
(Unaudited)

   For the 3 Mos. Ended Mar. 31,   For the 9 Mos. Ended Mar. 31,
   2002   2001   2002   2001
            
Revenues   $3,485,665   $1,450,879   $11,955,379   $ 2,953,704
Net Income (Loss)   $50,554   $(238,776)   $736,455   $ (2,403,357)
Net Income (Loss) Per Share: Basic   $0.001   $(0.010)   $0.015   $(0.100)
Weighted Average Number of Shares:Basic   48,658,990   24,146,972   48,636,028   24,072,849
            
Note: All figures given in U.S. dollars         

About Tengtu International Corp.
Tengtu International Corp. (www.tengtu.com) is a developer, marketer, distributor, and integrator of distance learning solutions and e-education software. Under agreement with the Peoples Republic of China, Tengtu International Corp controls 57% of a joint venture with its China partner, Tengtu China. The JV (Tengtu) has been chosen by Chinas Ministry of Education to be the operating partner in the deployment of Chinas national education portal and distance learning network. Tengtu is a key player in "Operation Morning Sun," Chinas national initiative to make computerized education available to 250 million students in the country's 800,000 kindergarten through 12th grade (K-12) schools. Tengtu has $163 million in contracts with the government of China for its "Total Solution" application software and e-learning systems. Tengtu has also entered into agreements with provincial branches of the Ministry of Education to establish and operate local portals. These agreements represent an additional $450 million in sales of Tengtus proprietary software applications and connectivity fees. These agreements will represent 25% of the e-education market of China.
To be added to Tengtu's email list for Company news, please send your email address to info@tengtu.com

Contact:
     Tengtu International Corp., Canada
     Anu Dhir, 416/963-3999

Note: Portions of this press release include forward-looking statements made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Actual results could differ materially from the results discussed in this release and in the forward-looking statements contained herein for many reasons. Investors are cautioned that all forward-looking statements involve numerous risks and uncertainties, including but not limited to product development, product acceptance, licensing opportunities and general economic conditions. For more information concerning Tengtu International Corp., and risk factors that may affect its future results and may cause actual results to vary from results anticipated in forward-looking statements, investors should review the Company's public filings with the U.S. Securities and Exchange Commission.