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 Edison Schools Reports Strong Achievement at Schools Across the Country Wednesday, September 26, 2001 Edison Schools (NASDAQ: EDSN), Americas largest private manager of public schools, announced today that 84 percent of Edison schools are achieving at higher levels now than when they opened, as reported in its soon to be released Fourth Annual Report on School Performance. A copy of the report will be available on Edisons website, www.edisonschools.com, on October 1st. The report offers an analysis of improving levels of student achievement at Edison schools across the country. The average achievement gains of all Edison schools have averaged five to six points annually since 1995 and improved to seven points on criterion-referenced tests in the academic year just concluded. "These results are truly impressive," said John Chubb, Edisons Chief Education Officer. "To see so many schools gain such meaningful amounts over such a long period of time is very gratifying. The results mean that thousands upon thousands of students are improving their knowledge and skills by substantial amounts." On criterion-referenced tests, Edison schools have, from 1995 to 2001, increased the percentage of students achieving standards by an average of six percentage points every year from 1995 to 2001. In 2000-2001, Edison schools increased the percentage passing by seven percentage points, an improvement from the six-point rate of gain from 1995 onward. Criterion-referenced tests are the accountability measure used in more than two-thirds of Edison schools. These tests gauge the ability of students to achieve specified standards and are the tests used increasingly by states to hold schools accountable. On norm-referenced teststests that gauge the achievement of students relative to their peers nationwideEdison schools have, from 1995 to 2001, increased the national percentile rank of students by an average of five percentiles every year. In addition to compiling a strong record of achievement, Edison schools have also managed to sharply decrease the numbers of students failing state tests. From 1995 to 2001, Edison schools reduced the failure rate on criterion-referenced tests an average of six percentage points per year. In 2000-2001, Edison schools reduced failure rates an average of nine percentage points per school, a fifty percent improvement over the strong record of past years. "When you consider that the rate of economic disadvantage among Edison students is twice the national average, our increases merit real attention," said Chubb. "Edisons gains have improved while enrolling higher percentages of economically disadvantaged students: 70 percent this year versus 65 percent in 1999-2000, and 57 percent in the previous year." Although many educational observers have noted that there is a "minority achievement gap" in America, this is less true at Edison. Edison schools are succeeding while serving an increasing percentage of students for whom achievement has traditionally lagged. The average percentage of African American students in Edison schools has increased from 46 percent in 1998-1999, to 55 percent in 1999-2000, to 64 percent in 2000-2001all the while achievement gains have been steadily improving.
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