The Rhode Island AFL-CIO and The Princeton Review Form Educational Partnership

FRAMINGHAM, Mass. and PROVIDENCE, R.I., Aug. 27 /PRNewswire-FirstCall/ -- The Princeton Review, Inc. (Nasdaq: REVU) and The Rhode Island AFL-CIO and the Institute for Labor Studies and Research, organized labor's leading job training and educational program in Rhode Island, announced today that they and The Princeton Review's wholly owned subsidiary, Penn Foster, Inc. will enter into an agreement to help union members and their families continue their education and advance their careers.

"This unique partnership will make educational opportunities much more accessible and affordable for working families," said George Nee, President of the Rhode Island AFL-CIO.  "What will differentiate this partnership is the emphasis it will place on gearing the programs to union members and their families who in these tough economic times have a lot of competing pressures to balance. Through distance learning we will bring the Penn Foster College high quality programs into the workplace, making it much easier for union members to pursue degree or certificate programs while working one and sometimes two jobs."

"What is most exciting is the breadth of offerings we can make available through Penn Foster College," said Bob Delaney, Executive Director of The Institute for Labor Studies and Research, which will run this program.  "Out of the gate we will be making over 25 new programs easily accessible to our members.  These programs will train our workers to be pharmacy technicians, child development assistants, home medical aides, and medical information managers, to name just a few growing professions.  This October individuals who wish to begin their pathway to a career as a nurse or physical therapist will be able to enroll in the prerequisite courses.

The Institute for Labor Studies and Research has worked for years with The National Labor College which has provided a path to a college degree in Labor Studies for many of our states' top labor leaders. The opportunity to add to our partnership The Princeton Review's new "E Health Career" programs and their Penn Foster College programs will really help us fill out a full portfolio of vocational certificate and college degree opportunities for the 80,000 members we represent in this state."

Michael Perik, President and CEO of The Princeton Review, noted "We decided to launch our efforts to help working families with their educational needs here in Rhode Island because we believe we can quickly demonstrate state-wide success that can be a model for other state AFL-CIO partnerships.  President Nee and Mr. Delaney share our vision for this project and we look forward to a long and productive relationship."

About The Princeton Review

The Princeton Review (Nasdaq: REVU) has been a pioneer and leader in helping students achieve their higher education goals for more than 28 years through college and graduate school test preparation and private tutoring. With more than 165 print and digital publications and a free website, www.PrincetonReview.com, the Company provides students and their parents with the resources to research, apply to, prepare for, and learn how to pay for higher education. The Princeton Review partners with schools and guidance counselors throughout the U.S. to assist in college readiness, test preparation and career planning services, helping more students pursue postsecondary education. The Company also owns and operates Penn Foster Education Group, a global leader in online education.  Penn Foster provides career-focused degree and vocational programs in the fields of allied health, business, technology, education, and select trades through the Penn Foster High School and Penn Foster Career School (www.pennfoster.edu), which are headquartered in Scranton, PA.

About The Institute for Labor Studies and Research

For thirty years the Institute for Labor Studies and Research (ILSR), a private, non-profit educational institution has been dedicated to providing a wide variety of education and training programs that are responsive to the needs of working Rhode Islanders and organized labor.

ILSR's courses, seminars and workshops range from job skills training, worksite based ESL and GED to labor education and leadership training as well as on-line courses which are open to members of organized labor as well as the community at large.

The ILSR has a rich history of designing and implementing customized training as well as offering college credit courses on site at organized labor facilities in Rhode Island. More than 125,000 individuals have participated in ILSR education and training programs since the Institute opened its doors.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934.  Such forward-looking statements may be identified by words such as "believe," "intend," "expect," "may," "could," "would," "will," "should," "plan," "project," "contemplate," "anticipate," or similar statements. Because these statements reflect The Princeton Review's current views concerning future events, these forward-looking statements are subject to risks and uncertainties. The Princeton Review's actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors, including, but not limited to, demand among union members for the company's products and services; market acceptance of the company's newer products and services; and the other factors described under the caption "Risk Factors" in The Princeton Review's most recent Form 10-K filed with the Securities and Exchange Commission, and in its other filings. The Princeton Review undertakes no obligation to update publicly any forward-looking statements contained in this press release.

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SOURCE The Princeton Review, Inc.