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 The Edison-PPL School in Minneapolis Posts Strong Gains on Nationally Normed Test Monday, June 11, 2001 Edison Schools announced that The Edison-PPL School posted dramatic gains on the Northwest Achievement Level Test (NALT), the nationally normed achievement test of record for the Minneapolis Public School District. Over the past two years, the gains at Edison-PPL, which serves an economically disadvantaged community, have far exceeded average national gains on this exam. Edison-PPL students in grades 3-7 gained an average of 8.2 scale points in reading, and 10.0 scale points in math against their scores from the previous grade level. These gains exceeded those of the district-the district's average gains were 5.6 and 8.2 scale points in reading and math, respectively. In all but one instance, the gains at Edison-PPL exceeded or equaled the district's gains in both subjects at all grade levels. These most recent gains build on the significant achievement progress that began last year. Over the two-year period from spring 1999 to spring 2001, Edison-PPL students have gained more than the district average on all measures. An analysis of improvement over two grade levels, show that Edison-PPL students improved 12.7 and 18.0 scale points in reading and math versus 11.7 and 14.5 scale points, respectively, for district students. Viewed differently, students at the same grade level in 1999 and 2001 improved 5.3 and 6.0 scale points in reading and math, respectively, at Edison-PPL, versus 1.3 and 2.5 scale points, respectively, in the district. Project for Pride in Living is a locally based nonprofit working throughout the Twin City Metro area. The agency's mission is to assist low- and moderate-income people to become self-sufficient by addressing their job, housing, and neighborhood needs. Formed in 1972 and guided by the simple philosophy of teaching people to fish, PPL now directly serves over 3,000 families and individuals every year, and indirectly assists thousands more through neighborhood and economic development. PPL owns and manages over 588 quality, affordable rental housing units and provides opportunities for growth through several integrated programs relating to employment and job training, education, and life skills development. Any statements in this press release about future expectations, plans and prospects for the Company, 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 the Company's estimates as of June 11, 2001. The Company anticipates that subsequent events and developments will cause the Company's estimates to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to June 11, 2001.
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