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 Edison Schools reports accelerating student achievement gains Thursday, August 10, 2000 Edison announced that the rate of increase by its students on state and national achievement tests is climbing. For the first four years of its operations, the company reported average increases per year on norm- and criterion-referenced exams of 4 percentiles and 6 percentage points respectively. For the academic year just ended, these rates of gain were up 20 percent to 5 percentiles and 7 percentage points, as reported in a 150-page annual analysis. The report covers more than 450 achievement trends in reading, writing, spelling, language arts, math, science and social studies. It also provides a look at 40 different schools from coast to coast, all open long enough to measure their gains in student achievement. The company noted that many of its schools in urban settings were performing particularly well, pointing to one of its largest "clusters" in Washington D.C. Edison's District schools gained an average of 9 percentiles on nationally normed tests and 10 percentage points on criterion-referenced tests. Edison also reported that its parent satisfaction was higher than national norms for the fifth consecutive year, with 85 percent of parents rating Edison's schools an "A" or a "B". 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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