Pearson Extends EDI Offer Acceptances To June 10

Pearson PLC (PSON.LN), said Friday that the Offer for Education Development International PLC (EDD.LN) or EDI, has been extended to 1200 GMT on June 10, which, unless the Offer is further extended with the consent of EDI and the Takeover Panel, will be the latest time at which the Offer may become or be declared unconditional as to acceptances.

MAIN FACTS:

-Pearson announces that, as at 1200 GMT on June 3, valid acceptances had been received in respect of a total 45,312,892 EDI Shares, representing 80.39% of the issued share capital of EDI.

-This total includes acceptances received in respect of 17,091,460 EDI Shares representing 30.33% of the issued share capital of EDI which were subject to irrevocable commitments procured by Pearson.

-On March 7, the boards of directors of Pearson plc ("Pearson") and Education Development International announced the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of EDI to be made by Pearson.

-On May 5, Pearson announced the extension of the offer timetable with the consent of EDI and the Panel.

-Shares closed Friday at 1,137 pence, valuing the company at GBP9.25 billion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [e-mail]