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PLATO Learning, Inc. and Lightspan, Inc. Announce Termination of The
Hart-Scott-Rodino Waiting Period
MINNEAPOLIS and SAN DIEGO, Nov. 4 /PRNewswire-FirstCall/ -- PLATO Learning,
Inc. , a leading provider of K-Adult computer-based and e-learning solutions,
and Lightspan, Inc. , a leading provider of curriculum-based educational
software and online products and services used in schools, at home and in
community colleges, today announced the expiration of the waiting period under
the Hart-Scott-Rodino Antitrust Improvements Act related to the proposed merger
of the companies. The waiting period expired at 11:59 p.m. E.S.T. on November
3, 2003.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020917/PLATOLOGO )
PLATO Learning and Lightspan have each scheduled special meetings of their
respective shareholders on November 17, 2003 to vote on the merger proposal. The
transaction remains subject to a favorable vote by PLATO Learning and Lightspan
shareholders, as well as other customary closing conditions.
About PLATO Learning
PLATO Learning, Inc. is a leading provider of computer-based and e- learning
instruction for kindergarten through adult learners, offering curricula in
reading, writing, math, science, social studies, and life and job skills. PLATO
Learning also offers innovative online assessment and accountability solutions
and standards-based professional development services. With over 4,000 hours of
objective-based, problem-solving courseware, plus assessment, alignment and
curriculum management tools, we create standards-based curricula that facilitate
learning and school improvement.
With trailing 12-month revenues of about $78 million, PLATO Learning is a
publicly held company traded as TUTR on the NASDAQ-NMS. PLATO(R) Learning
educational software is marketed to K-12 schools, colleges, job training
programs, correctional institutions, military education programs, corporations
and individuals and delivered via networks, CD-ROM, the Internet and private
intranets. It is available for immediate purchase and electronic download on the
PLATO Learning's Web site.
PLATO Learning is headquartered at 10801 Nesbitt Avenue South, Bloomington,
Minnesota 55437, (952) 832-1000 or (800) 869-2000. The Company has domestic
offices throughout the United States and international offices in the United
Kingdom and Canada. International distributors are located in Puerto Rico,
Singapore, South Africa and the United Arab Emirates. PLATO Learning's Web
address is http://www.plato.com/ .
About Lightspan
Lightspan, Inc. provides curriculum-based educational software and on-line
products and services that increase student achievement and enhance teacher
professional development. These products are used in schools and homes and align
to all key federal education reform initiatives, offering school districts a
complete solution to assess, align, instruct and evaluate, as a comprehensive
achievement and accountability system. More than 1,000 independent studies prove
Lightspan products enhance student achievement, improve teacher effectiveness
and help build stronger connections with families.
Lightspan is headquartered at 10140 Campus Point Drive, San Diego, California
92121, (858) 824-8000. Lightspan's Web address is http://www.lightspan.com/ .
Investors and security holders are advised to read the joint proxy
statement/prospectus dated October 10, 2003 regarding the proposed merger,
because it contains important information. Such joint proxy statement/prospectus
was filed with the Securities and Exchange Commission by Plato Learning and
Lightspan. Investors and security holders may obtain a free copy of the joint
proxy statement/prospectus and other documents filed by Plato Learning and
Lightspan at the Securities and Exchange Commission's web site at
http://www.sec.gov/. The joint proxy statement/prospectus and such other
documents may also be obtained from Plato Learning by directing such request to
Plato Learning, Steve Schuster, tel: (952) 832-1502; e-mail: . The joint proxy
statement/prospectus and such other documents may also be obtained from
Lightspan by directing such request to Lightspan, Lynne Goldacker, tel: (858)
824.8210; e-mail:
PLATO Learning, Lightspan and their respective executive officers and directors
may be deemed to be participants in the solicitation of proxies from
stockholders of PLATO Learning and Lightspan with respect to the transactions
contemplated by the merger agreement. A description of any interests that PLATO
Learning's or Lightspan's directors and executive officers have in the proposed
merger will be available in the joint proxy statement/prospectus. Information
regarding Lightspan officers and directors is included in Lightspan's Proxy
Statement for its 2003 Annual Meeting of Stockholders filed with the Securities
and Exchange Commission on July 29, 2003. Information regarding PLATO Learning
officers and directors is included in PLATO Learning's Proxy Statement for its
2003 Annual Meeting of Stockholders filed with the Securities and Exchange
Commission on January 31, 2003. These proxy statements are available free of
charge at the Securities and Exchange Commission's web site at
http://www.sec.gov and from Lightspan and PLATO Learning.
This announcement includes forward-looking statements. PLATO Learning and
Lightspan have based these forward-looking statements on its current
expectations and projections about future events. Although PLATO Learning and
Lightspan believe that the assumptions made in connection with the forward-
looking statements are reasonable, no assurances can be given that its
assumptions and expectations will prove to have been correct. These forward-
looking statements are subject to various risks, uncertainties and assumptions.
PLATO Learning and Lightspan undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise. Any forward looking statements made are subject to
the risks and uncertainties as those described in the joint proxy
statement/prospectus dated October 10, 2003 and the PLATO Learning and Lightspan
Annual Reports on Form 10-K for the years ended October 31, 2002 and January 31,
2003, respectively. Actual results may differ materially from anticipated
results.
(R) PLATO is a registered trademark of PLATO Learning, Inc.
(R) Lightspan is a registered trademark of Lightspan, Inc.
http://www.newscom.com/cgi-bin/prnh/20020917/PLATOLOGO
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DATASOURCE: PLATO Learning, Inc.
CONTACT: John Murray, President & CEO, Greg Melsen, CFO, or Steve
Schuster, VP & Treasurer, all of PLATO Learning, Inc., +1-952-832-1000, or
John Kernan, Chairman & CEO, or Michael A. Sicuro, CFO, both of Lightspan,
Inc., +1-858-824-8000
Web site: http://www.plato.com/
http://www.lightspan.com/