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 United Teachers of Dade, Edison Schools announced a proposal to create 10 new charter schools in Miami Thursday, September 07, 2000 Already recognized as pioneers in creating public/private partnerships, this historic next step will bring one of the nation's largest local teacher unions and America's largest private manager of public schools together to help the needs of children in our public schools. UTD will sponsor seven elementary schools, two middle schools and one senior high school. These innovative schools will operate within the context of the union contract. UTD will head up the governance board of the charter schools and will enter into a management agreement with Edison. The UTD Charter Board will oversee all of the charter schools. The seven elementary schools are slated to open in 2001 with plans to serve 1,000 children in each school. One middle school is planned to open in 2001 with the second opening in 2002. The student population estimate for each middle school is 1,600. The senior high is scheduled to open in 2003, serving 2,000 students. Except for the historical information contained in this announcement, the matters discussed are "forward looking statements" (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including risks detailed from time-to-time in Edison's filings with the Securities and Exchange Commission. In particular, Edison calls to the reader's attention the risk factors described in its Quarterly Report on Form 10-Q dated May 15, 2000 under the heading "Additional Risk Factors That May Affect Future Results." Any such forward-looking statements speak only as of the date such statements are made, and Edison undertakes no obligations to publicly release the results of any revision to these forward-looking statements or otherwise update or supplement this announcement or risk factors contained herein.
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