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 Edison has entered into an alliance with Vantage Learning to co-develop advanced assessment system Friday, July 28, 2000 The new system, to be built on Vantage's IntellimetricTM platform, will enable the online creation, delivery, and reporting of Edison's Benchmark Assessment System. Edison and Vantage have entered into a four-year contract. Consistent assessment of student progress is a key component of the Edison design. Edison's Benchmark Assessment System-linked to state and national standards-enables its teachers to closely follow students' academic progress by evaluating their performance on a monthly basis in the core subject areas of reading, mathematics, and language arts. Additional assessment tools in science and social studies are being developed. Vantage Learning, a division of Vantage Laboratories and the leading provider of online tests, developed IntelliMetric (www.intellimetric.com) to meet the needs of business, education, and government agencies needing a comprehensive Internet-based test authoring, delivery, scoring and reporting platform. IntelliMetric administers and scores responses to open-ended questions over the Internet using advanced artificial intelligence technology. IntelliMetric is used by a variety of state school districts, publishers and assessment organizations, including The College Board, The Secondary School Achievement Test Board (SSATB) and the State of Pennsylvania. 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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