NEW YORK, July 15 /PRNewswire-FirstCall/ -- Edison Schools (Nasdaq: EDSN),
the nation's largest manager of public schools, announced today that Edison
Receivables Company LLC, its wholly owned subsidiary, has extended its
$55 million revolving credit agreement from July 15, 2003 until November 15,
2003.
About Edison Schools
Founded in 1992, Edison partners with school districts and charter boards
to raise student achievement through its research-based school design, aligned
assessment systems, interactive professional development, integrated use of
technology, and other program features. Edison students are achieving academic
gains above national norms. Edison Schools now serves more than 110,000 public
school students in more than 20 states through four business channels: (1) the
management of schools for school districts, (2) charter schools, (3) summer
and after-school programs, and (4) achievement management solutions for
school systems. For the 2002-2003 school year, the company operated
149 full-year schools and 178 summer schools.
Between 1992 and 1995 and in ongoing efforts, Edison's team of educators
and scholars conducted research to develop its school design and support
systems. Edison opened its first four schools in August 1995 and has grown 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. The forward-looking statements included
in this press release represent Edison's estimates as of July 15, 2003.
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 15, 2003.
SOURCE Edison Schools
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Related links:
http://www.edisonschools.com
CONTACT:
Adam Tucker, VP, Communications of Edison
Schools, +1-212-419-1602
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