Edison wins unanimous approval for first schools in Indiana Wednesday, May 23, 2001 Edison announced that it plans to add Indiana to its growing network of schools around the country. By a unanimous vote of 5-0, the Board of the Metropolitan School District of Perry Township agreed to move forward with the partnership with Edison to manage two new elementary schools in Indianapolis. This decision brings the number of states in which Edison will manage schools to 22 plus the District of Columbia. The Jeremiah Gray Elementary School, currently under construction, is expected to open in the fall of 2002. Located on the eastside of the district, it will serve approximately 750 students in grades K-5. The West Side Elementary School, expected to open in the fall of 2003, will serve approximately 750 students in grades K-5. The board's approval for this partnership is contingent on the district receiving a Lilly Endowment grant, an agreement with the Perry Township Teachers Association, and agreement on contractual details between Edison and the Board. Any statements in this press release about future expectations, plans and prospects for Edison, including statements about opening the new schools in Indianapolis 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 that Edison and the Board of the Metropolitan School District of Perry Township may not receive a Lilly Endowment grant, reach agreement with the Perry Township Teachers Association or finalize contract arrangements, as well as 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 Edison's estimates as of May 23, 2001. Edison anticipates that subsequent events and developments will cause the Company's estimates to change. However, while Edison may elect to update these forward-looking statements at some point in the future, Edison specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Edison's estimates or views as of any date subsequent to May 23, 2001.
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