Edison Schools wins renewal of contract with Dade County Public Schools Thursday, May 17, 2001 Edison announced that it won the renewal of its contract to manage Henry E.S. Reeves Elementary School in Miami. By a unanimous vote of 9-0, the Dade County School Board made its decision to renew Edison's contract for another five years. The Henry E.S. Reeves Elementary School opened in partnership with Edison in the fall of 1996 and currently serves approximately 1150 students in kindergarten through fifth grade. In addition to the renewal of this management agreement, Edison also said that it is on track with its plan to open a major new cluster of 9 charter schools - in partnership with the United Teachers of Dade County - with an expected enrollment of over 10,000 students. These schools are slated to begin opening in the Fall of 2002. Any statements in this press release about future expectations, plans and prospects for the Company, including statements about opening the new cluster of schools in the Fall of 2002 and other 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 May 17, 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 May 17, 2001.
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