Two Edison schools in Baltimore post strong gains on citywide standardized test Thursday, May 24, 2001 Edison announced that two of its schools in Baltimore posted strong gains on citywide standardized tests, significantly improving their median percentiles in reading and math on the CTBS/5 exam. In addition, the Maryland State Board of Education approved expansions of all three Edison schools. Edison Schools - via a unique arrangement with the Maryland State Department of Education - manages three schools in Baltimore, Furman L. Templeton Elementary, Gilmor Elementary, and Montebello Elementary, currently serving approximately 1400 students. Beginning in the fall of 2001, each of these K-5 schools will be expanded to include a sixth grade. The State Board's action is contingent on the approval of the Board of Public Works. Montebello, Edison's largest school in Baltimore, posted exceptional scores with an average median percentile gain in each grade of 28.6 in reading and 39.8 in math. Gilmor also posted strong results, with an average median percentile gain up 3.4 in both math and reading. Templeton was up .6 in reading and down 3.4 in math. The scores of all three schools appear to compare very favorably with gains made by the city of Baltimore as a whole. Any statements in this press release about future expectations, plans and prospects for Edison, including 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 Edison's estimates as of May 24, 2001. Edison anticipates that subsequent events and developments will cause Edison'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 24, 2001.
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