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 Edison Schools Selected To Manage Majority of Chester Upland Schools Thursday, March 29, 2001 Edison announced that it has been selected by the Chester Upland School District in Chester, PA, to assume responsibility for the management of six of the ten public schools in that community, effective in the fall of 2001. Edison, working in cooperation with Chester community leaders, the Chester Upland Education Association and the Pennsylvania State Education Association, will provide its program to approximately 3,200 students in grades K-8. The Board of Control also announced that two other education management organizations, Learn Now and Mosaica, will be invited to operate schools in Chester Upland beginning this fall, serving approximately 2,400 and 700 students respectively. Final contractual and financial arrangements will be subject to negotiations with the Board of Control. 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 February 14, 2001 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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