Edison Announces Major Detroit Expansion; To Add Approximately 1500 Students to Detroit Academy of Arts & Sciences as Part of Five-Year Contract Renewal

Apr 16, 2001, 01:00 ET from Edison Schools Inc.

    NEW YORK, April 16 /PRNewswire/ -- Edison Schools Inc.(Nasdaq: EDSN), the
 nation's leading private operator of public schools, announced today that it
 will significantly expand its relationship with the Detroit Academy of Arts &
 Sciences, Edison's first charter school in Detroit which opened in 1997.  The
 company reported that it has begun renovations on a new 1,200 student facility
 for a middle and high school complex.  Further, it has started work to expand
 an existing 840 student, K-5 facility by 240 students.  Both sites are
 scheduled to open this fall.  This expansion is part of an anticipated five
 year renewal with the Detroit Academy of Arts & Sciences (DAAS) charter
 school.  New revenues to Edison will be approximately $8 million per year.
     "We are extremely pleased with our current relationship with the Detroit
 Academy of Arts & Sciences and we look forward to this expanded one," said
 Chris Whittle, Edison's CEO.  "When these sites open this fall, the DAAS
 cluster will be educating over 2,300 students."
     "Our partnership with Edison Schools over the past four years has been a
 resounding success for the 840 children we now serve.  We are extremely
 pleased to announce this major expansion, which will more than double our
 school community," said Reverend Jim Holley, Ph.D., President of the Board of
 Directors and founder of DAAS.  "It will be particularly exciting to offer the
 Edison program to junior and senior high school students in the fall as well
 as the K-6 levels offered in the past years."
     Edison Schools currently manages 113 public schools with a total
 enrollment of approximately 57,000 students. Through contracts with local
 school districts and public charter school boards, Edison assumes educational
 and operational responsibility for individual schools in return for per-pupil
 funding that is generally comparable to that spent on other public schools in
 the area.  Over the course of three years of intensive research, Edison's team
 of leading educators and scholars developed an innovative, research-based
 curriculum and school design. Edison opened its first four schools in August
 1995, and has grown rapidly in every subsequent year.
 
     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 February 14, 2001 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.
 
 

SOURCE Edison Schools Inc.
    NEW YORK, April 16 /PRNewswire/ -- Edison Schools Inc.(Nasdaq: EDSN), the
 nation's leading private operator of public schools, announced today that it
 will significantly expand its relationship with the Detroit Academy of Arts &
 Sciences, Edison's first charter school in Detroit which opened in 1997.  The
 company reported that it has begun renovations on a new 1,200 student facility
 for a middle and high school complex.  Further, it has started work to expand
 an existing 840 student, K-5 facility by 240 students.  Both sites are
 scheduled to open this fall.  This expansion is part of an anticipated five
 year renewal with the Detroit Academy of Arts & Sciences (DAAS) charter
 school.  New revenues to Edison will be approximately $8 million per year.
     "We are extremely pleased with our current relationship with the Detroit
 Academy of Arts & Sciences and we look forward to this expanded one," said
 Chris Whittle, Edison's CEO.  "When these sites open this fall, the DAAS
 cluster will be educating over 2,300 students."
     "Our partnership with Edison Schools over the past four years has been a
 resounding success for the 840 children we now serve.  We are extremely
 pleased to announce this major expansion, which will more than double our
 school community," said Reverend Jim Holley, Ph.D., President of the Board of
 Directors and founder of DAAS.  "It will be particularly exciting to offer the
 Edison program to junior and senior high school students in the fall as well
 as the K-6 levels offered in the past years."
     Edison Schools currently manages 113 public schools with a total
 enrollment of approximately 57,000 students. Through contracts with local
 school districts and public charter school boards, Edison assumes educational
 and operational responsibility for individual schools in return for per-pupil
 funding that is generally comparable to that spent on other public schools in
 the area.  Over the course of three years of intensive research, Edison's team
 of leading educators and scholars developed an innovative, research-based
 curriculum and school design. Edison opened its first four schools in August
 1995, and has grown rapidly in every subsequent year.
 
     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 February 14, 2001 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.
 
 SOURCE  Edison Schools Inc.