Edison Schools Announces Twelve Expansions and Two New School Openings Thursday, May 23, 2002 Edison Schools Inc. announced today that school expansions are underway at twelve Edison schools around the country, including schools in Albany, the Bronx, Rochester, and Buffalo in New York; Phoenixville and Philadelphia in Pennsylvania; Washington, DC; Milwaukee, Wisconsin; Atlanta, Georgia and Dayton, Ohio. These expansions represent a total increase of over 1,500 students. In addition, Edison announced the opening of two additional new schools this fall the first Edison school in Indiana and a new charter school in Kansas City, Missouri together these two schools expect to enroll more than 1,250 students. These students will join the more than 14,000 students who attend twenty schools in Philadelphia which the School Reform Commission voted for Edison to manage last month.. We are pleased to expand our growing national school system into places both new and familiar, and we are proud of the exemplary performance and increasing levels of student achievement at all of our schools across the country, said Chris Whittle, Edisons CEO. The opening of new schools and expansion of existing schools will provide us with the opportunity to offer an outstanding education to even more students, and to build on our positive working relationships with our local partners. Additional New School Openings The Jeremiah Gray School in Indianapolis, Indiana will open its doors in fall 2002 to approximately 640 district students in grade K-5. The contract between Edison and the Metropolitan School District of Perry Township also calls for a second school to open in the fall of 2003. Edison will increase its presence in Kansas City, Missouri by opening the Derrick Thomas Academy, which serve approximately 648 students in grades K-5. It will expand by approximately 100 students each year over three years to become a school serving grades K-8. Named in honor of the late Kansas City Chiefs linebacker, the Derrick Thomas Academy will strive to embody the civic-minded virtues that the NFL star championed. Edison currently manages four other charter schools and one contract school in Kansas City. School Expansions Edison Schools will expand grades and enrollment in 12 of its schools across the country, including: An expansion of the Woodson campus of the Edison-Friendship Public Charter School in the District of Columbia, will increase enrollment in the eleventh grade and add a twelfth grade to the school beginning in fall 2002. This expansion will increase enrollment by approximately 280 students. Two Edison schools in Dayton, Ohio, will also expand for fall 2002. Dayton View Academy, which will add a seventh grade, will be able to serve an additional 172 students. Dayton Academy will expand to include eighth grade, and will serve an additional 203 students overall. The Mariana Bracetti Academy in Philadelphia, PA will add a tenth grade and approximately 235 new students overall in the fall of 2002. The New Covenant Charter School in Albany, New York, a school serving grades K-8, will add 141 students across several grades in the fall of 2002. Renaissance Academy-Edison Charter in Phoenixville, Pennsylvania, will be adding tenth grade beginning in the fall of 2002. The school will expand to serve an additional 70 students overall. Additional school expansions are at Charles R. Drew Charter School in Atlanta, Georgia; Harriet Tubman Charter School in Bronx, New York; Stepping Stone Academy Charter School in Buffalo, New York; Charter School for Applied Technology in Tonawanda, New York; The Charter School of Science and Technology in Rochester, New York; and Milwaukee Urban League Academy of Business & Economics in Milwaukee, Wisconsin. The new and expansion sites detailed above are included in the base case guidance provided during the companys last earnings call.
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