Edison Schools Announces Expansion of Schools in New York State Monday, January 29, 2001 Edison announced that it will manage two new charter schools in the Buffalo, New York area. In the fall of 2001, Edison will open the Charter School for Applied Technologies, in Kenmore-Tonawanda, and the Stepping Stone Academy Charter School, in Buffalo. The Charter School for Applied Technologies will open its doors to approximately 700 students in grades K-6 for the 2001-2002 academic year. Edison and the Charter School for Applied Technologies plan to expand the school to include one additional grade each subsequent year and expect to serve as many as 1300 students in grades K-12. The school plans to offer students the opportunity to apply their skills in internships, mentor programs and apprenticeships with local building, engineering and manufacturing industries. Beginning in fall 2001, Stepping Stone Academy Charter School will enroll up to 300 students in grades K-5. It will expand one grade per year through to grade 8 when it will serve as many as 900 students. 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 November 14, 2000 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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