NEW YORK, Nov. 6 /PRNewswire-FirstCall/ -- After three years of
partnership, Edison and the Nash-Rocky Mount Board of Education agreed that
the Swift Creek Edison Elementary School should be run on an independent basis
by the district. The decision is a mutual one between the Nash-Rocky Mount
School District and Edison Schools (Nasdaq: EDSN), the nation's leading
private manager of public schools. Edison and the Board are in the final
stages of negotiations and will work to create a transition plan.
Swift Creek Edison Elementary School serves approximately 210
kindergarteners through fifth-grade students from Nash-Rocky Mount Schools of
North Carolina. The model for Swift Creek incorporates an extended calendar
and school day into its program. The school has worked to build a culture of
student achievement over the past three years.
"We are pleased that we have been able to work in partnership with the
Nash-Rocky Mount School District over the past three years to serve the
students and families of Nash-Rocky Mount," said Chris Cerf, Edison President
and COO. "While we are proud of our collective effort in Swift Creek, we also
must acknowledge that the school's low enrollment and distance from other
district schools presented operational challenges at times. From a business
perspective, the good news for Edison Schools is that ending this partnership
will be beneficial to our financial standing." Cerf continued, "We are
committed to working closely with the district to assure that there is smooth
transition of management at this school."
"Edison Schools was instrumental in helping us implement a new school
model at the Swift Creek School," said Dr. George Norris, Superintendent of
Schools. "In fact, we will continue to use several aspects of the Edison
model, including their SFA Reading program and Everyday Mathematics. Edison
also helped us to develop our school improvement plan. We now, however,
believe it is in our best interest to reassume full control of the school."
About Edison
Edison Schools manages 150 public schools with a total enrollment of
approximately 80,000 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
annual report on form 10-K/A filed with the SEC. The forward-looking
statements included in this press release represent Edison's estimates as of
November 6, 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 November 6, 2002.
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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