KnowledgeFunding Ohio Extends Offer for Outstanding Student Loan Revenue Bonds

CINCINNATI, April 26 /PRNewswire/ -- KnowledgeFunding Ohio, Inc. (the "Corporation") announced today that it has extended until 5:00 p.m., New York City time, on May 14, 2010 (the "Expiration Date") its consent solicitation and cash tender offer (the "Offer") for the following series of its outstanding student loan revenue bonds: Senior Series 2005A-1 Bonds, Senior Series 2005A-2 Bonds, Senior Series 2005A-3 Bonds, and Subordinate Series 2005C-1 Bonds, all issued on December 21, 2005 and Senior Series 2006A-1 Bonds, Senior Series 2006A-2 Bonds, Senior Series 2006 A-3 Bonds, and Subordinate Series 2006C-1 Bonds, all issued on December 20, 2006 (collectively, the "Bonds").  Additionally, the Corporation has extended the period during which holders of Bonds may tender them and be eligible to receive an early tender premium until 5:00 p.m., New York City time, on May 10, 2010 (the "Early Tender Date").

The Offer is made pursuant to the Consent Solicitation Statement and Offer to Purchase, dated April 12, 2010 (the "Statement"), that was previously distributed to holders of the Bonds, as amended hereby.  Only the Expiration Date and the Early Tender Date are being modified; the remaining terms of the Offer will continue unchanged.

As of 5:00 p.m., New York City time, on Friday, April 23, 2010, $9 million of Senior Series 2005A-2, $71.2 million of Senior Series 2005A-3, $11.6 million of Senior Series 2006A-1, and $23.4 million of Senior Series 2006A-3 Bonds had been tendered.

The Bonds are auction rate securities and have been subject to failed auctions since February 12, 2008.  The Corporation is making the Offer to obtain the consents required to make certain changes to the indenture and to provide liquidity to bondholders that tender Bonds pursuant to the Offer.  J.P. Morgan Securities Inc. is the Dealer Manager for the Offer and may be contacted at (212) 834-5435.  Bondholder Communications Group is the Information and Tender Agent for the Offer.  Holders are urged to read the Statement in its entirety before making any decision with respect to the Offer.  Copies of the Statement may be obtained by contacting:

SOURCE KnowledgeFunding Ohio, Inc.