CORRECTING and REPLACING: Kaplan to Acquire Bradford College, Grange Business School

Kaplan has corrected and replaced the following press release. Its
prior release indicated that it had acquired Bradford College. In
fact, it has agreed to acquire Bradford College and expects the
parties to complete the transaction shortly.

The corrected release reads:

KAPLAN TO ACQUIRE BRADFORD COLLEGE, GRANGE BUSINESS SCHOOL

Kaplan, a leading international provider of higher and
professional education, announced today that it has agreed to acquire
Bradford College and Grange Business School, based in Adelaide,
Australia. The parties expect to complete the transaction shortly. The
price of the transaction was not disclosed.

Bradford College provides pathway programs for the University of
Adelaide, a member of the "Group of 8" schools that make up
Australia's leading institutions of higher education. It is located on
the University of Adelaide campus. Grange Business School offers
programs in accounting and other business subjects.

Mark Coggins, President, Kaplan Asia with responsibility for
operations in Australia, said, "We look forward to welcoming Bradford
College and Grange Business School to the Kaplan family, and to the
Kaplan operations in Australia. Australia's status as an education hub
makes it a key location for Kaplan's growth, and we look forward to
playing an increasing role in the market for higher and professional
education in the region."

"This acquisition reflects Kaplan's continuing investment in
Australian higher education sector. It also reflects a commitment to
creating opportunities for people to come to Australia to study and
opportunities for further development of the Australian education
brand in Asia," he said.

In April, 2007 Kaplan announced an agreement with the Financial
Services Institute of Australia (Finsia) to acquire Finsia Education,
the association's education division. That acquisition was approved by
Finsia's membership in June. In 2006 Kaplan acquired Tribeca Learning
Limited, a leading provider of professional training to institutions
and their employees in Australia's financial planning, stockbroking,
accounting, self managed superannuation, real estate and mortgage
broking markets. Tribeca has since been renamed Kaplan.

Kaplan also provides college pathway and foundation programs in
the United Kingdom, through partnerships with the University of
Sheffield, Glasgow University and Nottingham Trent University among
others, and in the U.S. with Northeastern University. In China a joint
venture, Kaplan ACE, provides preparation courses for entry into a
consortium of U.K. universities at centers throughout China, along
with degree programs at its campus in Shanghai.

Additional higher education programs in Asia include APMI Kaplan
in Singapore, which provides undergraduate and postgraduate programs
in cooperation with universities in Australia, the U.K. and the U.S.

Kaplan, based in New York, is a world leader in education, serving
more than one million students per year in 600 locations in 33
countries. Kaplan's programs include higher and professional
education, language instruction, test preparation and services to
elementary/secondary students and schools. In the area of professional
education alone, Kaplan last year provided some 600,000 courses to
individuals and firms in financial services and related fields around
the globe.

Bradford College was founded in 2002. Its pathway program for
international students has two components: a degree transfer option
under which students study for the first year of their bachelor's
degree with a subsequent transfer to the second year at the University
of Adelaide on successful completion of the program; and a foundation
program that provides prerequisites for admission to the University of
Adelaide and other members of the prestigious "Group of 8", including
the University of Melbourne and the University of Sydney.

Grange Business School, founded in 2006, provides programs in
accounting, entrepreneurship, marketing, management and finance. The
school has articulation and credit transfer agreements with a number
of Australian universities.