Kaplan Introduces a Custom Interactive Program to Help CPA Students Beat the Odds

Review Courses Increase Odds of CPA Pass Rate by 77 Percent

NEW YORK, May 9, 2003 - Only 17 percent of all students taking the CPA test pass all four parts of the notoriously difficult, content-heavy exam the first time - and most take sections of the exam multiple times before they pass. Kaplan, the largest provider of educational and test preparation services, aims to increase the odds with the launch of CPA Review Online, an Internet-based, customizable preparatory course for students preparing for the CPA exam.

"With the accounting industry becoming more regulated and heavily scrutinized by the public, students entering the field are finding they need to learn more CPA exam material and meet higher standards than ever before. They need interactive, customizable tools to help them meet and surpass these increasingly high expectations," said Eric Cantor, president of Kaplan Professional, a division of Kaplan, Inc. "Given our experience in test preparation and providing quality education and training to financial services professionals, this expansion to the CPA arena was a natural fit."

Cantor noted that more than 100,000 candidates took part or all of the CPA exam in 2001, with 33,000 of these taking the full exam for the first time. Of the first-time test takers, fewer than 6,000 passed all four sections of the exam. However, studies have shown that students who take CPA review courses increase their odds of passing by 77 percent (National Association of State Boards of Accountancy, Candidate Performance on the Uniform CPA Examination, 2002).

Kaplan's CPA Review Online provides access to more than 4,000 questions. Test takers complete modular tests based on fundamental and frequently tested topics. Once they have identified their strengths and weaknesses, they can customize their own tests by subject matter and length and, after mastering problem material, retake the modular tests to gauge improvement. Kaplan currently offers a premium home study CPA course that includes textbooks, video instruction, practice software and interactive question and answer sessions between professors and students.

Kaplan's launch comes as recent shakeups in the accounting industry highlight the need for qualified accountants who are well-versed in an increasingly complex regulatory environment. The introduction of the Sarbanes-Oxley Act in July 2002 and the creation of the Public Company Accounting Oversight Board have paved the way for significant, long-term impact on a number of accounting issues, including: corporate governance, disclosure, regulation of auditors, SEC enforcement, securities litigation, the role and responsibilities of research analysts, and benefits for directors and executive officers.

Kaplan already has a variety of prep programs for students looking to advance in financial services careers, including CFA prep through Schweser Study Program and NASD licensing training for securities professionals through Dearborn Financial Services and Kaplan Professional Schools.

About Kaplan CPA Review
Kaplan CPA Review is a comprehensive, personalized convenient portfolio of resources to help test takers review for the CPA exam. Resources include subject-specific textbooks, CD/DVD video lessons, and a customizable question bank that enables test takers to identify and focus on weak areas. All products can be purchased by subject matter or as a set. To learn more about Kaplan's new CPA Review suite of tools, please visit http://www.kaplancpareview.com. About Kaplan Professional:
Kaplan Professional, a division of Kaplan, Inc., is a leading provider of education and training solutions to companies and individuals in the financial services, insurance, banking, real estate, legal, information technology, and call center industries. Kaplan Professional meets its clients training, certification and continuing education needs through traditional and e-learning management tools, combining classroom and web-based products and services designed to maximize the performance of people and organizations. Kaplan has been providing educational and career services to students, schools, professionals, and businesses worldwide for more than 60 years. Kaplan is a wholly-owned subsidiary of The Washington Post Company (NYSE: WPO - News). For more information about Kaplan, please visit http://www.kaplan.com.

Press Contacts:

Carina Wong
212-492-5992
carina_wong@kaplan.com

Karen Blass
212-974-6233
karen_blass@kaplan.com 

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