Open less than a year, and previously among the lowest performing schools in Dallas, six of the seven Edison partnership schools made clear academic progress. This "cluster" of schools represents one of Edison's largest concentrations of students.

Six out of seven Edison schools improved their average scores (of percent meeting minimum expectations) from spring 2000 to spring 2001 in reading and math. The average improvement across the six schools was six percentage points in reading and 18 percentage points in math for cohorts of students moving from grade three to four, grade four to five, and grade five to six.

When scores are evaluated by comparing students in each grade level last year to the students in the respective grade levels this year (e.g., grade three in 2000 with grade three in 2001), the gains are also strong. Again, looking at the six improved schools: reading scores improved an average of 6.4 percentage points; math improved an average of 10.0 percentage points; and writing improved an average of 15.2 percentage points.

These gains, based on scores from Dallas Independent School District (DISD) that include English and Spanish TAAS and corrected for exemptions and out-of district students, generally exceed the district-wide improvements in elementary schools in Dallas which averaged 3.8, 10.2, and 4.6 percentage points in reading, math, and writing respectively.

Significantly, three schools (Hernandez, Maple Lawn, and Medrano elementary schools) that were previously labeled "low performing" within the state accountability system made large gains and may progress beyond their low performing status, becoming "acceptable" campuses. Comparing same grade levels, their gains were the largest of all Edison schools in Dallas. Hernandez was up 4.3, 11.4, and 7.2 points in reading, math, and writing respectively; Maple Lawn: 8.2, 12.8, and 23.0 points in reading, math, and writing respectively, and; Medrano was up 25.5, 21.6, 66.1 points in reading, math, and writing respectively.

The only major disappointment in Edison's scores is the performance of Titche Elementary School where there was not full implementation of the Edison program. The leadership at Titche was changed in January to get that school on track. It will be a "low performing" school based on its 2001 scores. One other school, Henderson Elementary, which saw students gain on average as they moved up in grade levels-up 3 points in reading and 12 points in math-also failed to get all sub-populations above the 50 percent passing hurdle and will most likely be labeled "low performing."

Any statements in this press release about future expectations, plans and prospects for Edison, including statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the risk factors discussed in our most recent quarterly report filed with the SEC. In addition, the forward-looking statements included in this press release represent Edison's estimates as of May 29, 2001. Edison anticipates that subsequent events and developments will cause Edison's estimates to change. However, while Edison may elect to update these forward-looking statements at some point in the future, Edison specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Edison's estimates or views as of any date subsequent to May 29, 2001.

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