Server: Netscape-Enterprise/2.0a Date: Mon, 29 Dec 1997 19:12:04 GMT Accept-ranges: bytes Last-modified: Fri, 05 Dec 1997 14:19:45 GMT Content-length: 3524 Content-type: text/html
FOR:Nobel Education Dynamics, Inc.
FOR IMMEDIATE RELEASE
CONTACT:
Jack Clegg
Chairman/Chief Executive Officer
Brian Zwaan
Executive Vice President/Chief Financial Officer
(610) 891-8200
INVESTOR RELATIONS:
Cheryl Schneider, Stacey Levitz
Michael McMullan (media)
Morgen-Walke Associates, Inc.
(212) 850-5600
Media, PA, July 15, 1997 -- Nobel Education Dynamics, Inc. (Nasdaq: NEDI), stated the Company will build 12 new schools during 1997. Three schools have already opened in 1997. The remaining schools are scheduled to open between late July and October 1997.
With these new school builds and the Company's recent acquisitions, Nobel expands its presence in existing markets and into new markets including Florida, Nevada, Oregon and Washington. At the end of 1997, Nobel Education will have built a total of 30 new schools, all of which have been opened over a three-year period. New 1997 school locations include:
California:
Sacramento (2 schools)
North Carolina:
Preston
Charlotte (2 schools)
Southpoint
South Carolina:
Columbia
New Jersey:
Glassboro
Virginia:
Ashburn
Nevada:
Las Vegas (2 schools)
Oregon:
Portland
Jack Clegg, Nobel Chairman and Chief Executive Officer said, "These new schools are part of Nobel's long-term cluster strategy, similar to the structure we have in place for our Merryhill school system in California. Our cluster strategy allows students to receive a seamless educational experience from preschool all the way through eighth grade."
Mr. Clegg continued, "We are dedicated to providing a productive educational environment in partnership with the communities we serve. Including the new schools announced today, our growth to date has been aggressive, with 30 new schools and 49 acquired schools opened over a three-year period. We are excited about further expanding our market presence and look forward to accelerating our growth rate going forward."
Nobel Education Dynamics, Inc., the largest non-sectarian private school system in the U.S., is a national leader in private quality education from preschool through eighth grade operating 123 schools in 14 states.
Except for historical information contained in this report, the information in the report consists of forward looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Potential risks and uncertainties include changes in market demand, market conditions, competitive activities, as well as the acceptance of newly-developed and converted schools and the performance of acquired businesses. Other risks and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission.
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