Board Votes 5-0 to Retain Edison Management for an Additional Five Years
NEW YORK, July 9 /PRNewswire-FirstCall/ --
Edison Schools Inc. (Nasdaq: EDSN), the nation's leading private manager of
public schools, announced today that the Chula Vista School District has
decided by a unanimous vote of 5-0 to renew its management agreement with
Edison. Edison began its partnership with Chula Vista in 1997, and will
continue to manage Feaster-Edison Charter School for the next five years.
Edison manages eight schools throughout the state of California.
Feaster-Edison serves approximately 1,130 students in kindergarten through
sixth grade. Historically a low performing school, Feaster-Edison has steadily
made academic gains over the past five years. Since spring 1998, the school
has gained an average of 16 percentile points across all subjects and grade
levels on the SAT9. In addition, since 1999 the school has surpassed its
projected API (Academic Performance Index) growth in all subjects and grade
levels by an average of 53 points. Hispanic students, who make up 77 percent
of the student population, have grown by 131 points on the API over the past
two years and socio-economically disadvantaged students, who make up
79 percent of the student population, have grown by 133 points on the API
since 1999. More than 40 staff members regularly volunteer as mentors for
troubled students.
"We are pleased to be able to continue to work in partnership with Chula
Vista School District to serve the students and families of Chula Vista," said
Edison Chief Operating Officer Chris Cerf. "Our partnership has been a
productive one at Feaster-Edison. We believe the school has truly had an
impact on the educational opportunities and outcomes for children in this
California community."
"[Feaster-Edison Charter School] is a school that has brought that
community together," said Mr. L. Cunningham of the Chula Vista School Board.
"It is a remarkable school and the next five years will be even greater than
the first five years."
About Edison
Edison Schools manages 133 public schools with a total enrollment of
approximately 74,000 students. Through contracts with local school districts
and public charter school boards, Edison generally assumes educational and
operational responsibility for individual schools in return for funding that
is 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. For more information, please visit
http://www.edisonschools.com .
Any statements in this press release and any other press release issued by
Edison on or about the date hereof 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, and other factors such as, among other
things, the possibility that: (1) Edison, its independent auditors and/or the
SEC may identify additional items that materially and adversely affect
Edison's financial results; (2) the financing discussed separately by Edison
today may not be consummated; and (3) the events relating to the informal SEC
inquiry or its settlement may result in defaults under Edison's material
agreements or give rise to costly and protracted litigation against Edison.
The forward-looking statements included in this press release represent
Edison's estimates as of July 9, 2002. Edison anticipates that subsequent
events and developments will cause its estimates to change. 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 July 9, 2002.
SOURCE Edison Schools Inc.
 back to top
Related links:
http://www.edisonschools.com
CONTACT:
Adam Tucker of Edison Schools Inc.,
+1-212-419-1602
|
