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 Edison Schools Announces Opening of Schools in California and Michigan Monday, May 22, 2000 Edison Schools announced that it will expand its operations in California, managing a new school in the Long Beach Unified School District. Edison also announced that it will launch operations in Inkster, Michigan. As a result of the Long Beach agreement -- Edisons largest to date in California -- Edison will now manage eight schools in that state. This fall, the Starr King Elementary School will come under Edison management, in partnership with Long Beach Unified School District, with an enroll approximately 1140 students in grades K-5. The agreement with the District of Inkster represents the first whole-district contract for Edison Schools. Edison will manage three schoolsto be collectively known as Inkster Public Schools, an Edison Partnership School Districtserving approximately 1,800 Pre-K to 12th grade students. Under the terms of the contract, Edison will operate the schools for five years and, during that period, total enrollment could grow to as many as 2,400 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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