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 Edison Announces Major Detroit Expansion Monday, April 16, 2001 Edison Schools announced that it will significantly expand its relationship with the Detroit Academy of Arts & Sciences, Edison's first charter school in Detroit which opened in 1997. The company reported that it has begun renovations on a new 1,200 student facility for a middle and high school complex. Further, it has started work to expand an existing 840 student, K-5 facility by 240 students. Both sites are scheduled to open this fall. This expansion is part of an anticipated five-year renewal with the Detroit Academy of Arts & Sciences (DAAS) charter school. 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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