Worldwide Educational Leader Kaplan, Inc. Acquires Dublin Business School

NEW YORK, NY, December 2, 2003 -- Kaplan, Inc., a leading provider of educational services worldwide announced that it has acquired Ireland's largest private undergraduate institution, Dublin Business School, for an undisclosed sum.

Established in 1975, Dublin Business School has developed a reputation for excellence in the educational sector and is considered the top post-secondary school in Ireland. The School has approximately 5,000 students with 300 staff members providing a diverse range of undergraduate, postgraduate, professional, lifelong learning and skills development programs.

The School's main campus is located in Dublin City Center, providing a rich educational environment serving both Irish and international students. Internationally, the School has a number of significant connections, including a successful satellite campus in Kuala Lumpar, Malaysia along with established relationships with leading international business schools on mainland Europe and in the United Kingdom.

Under the terms of the deal, the School will retain its existing management and organizational structure along with all staff. Qualifications from the institution will continue to be awarded by the Higher Education and Training Awards Council (HETAC), Liverpool John Moores University and other accrediting bodies.

Commenting on the acquisition, Jonathan Grayer, Kaplan Chairman and CEO said, "This is an important strategic investment that enables us to bring our higher education experience and resources to the European market. We look forward to further developing the School's programs for students."

Harold O. Levy, Kaplan's Senior Vice President, added, "In addition to higher education, Kaplan provides professional education services to some of the world's leading companies. Our programs in financial services, accounting and taxation are among the many resources we hope to bring to bear at Dublin Business School."

Through its Financial Training Company (FTC) unit, Kaplan is a leading provider of professional qualifications and business training in the UK and Asia. FTC, led by Chief Executive William Macpherson, prepares over 30,000 students a year for professional exams. Kaplan provides similar offerings in the U.S. through its Schweser Study Program and Dearborn Financial Services units.

Professor Brian Farrell, President, Dublin Business School, said, "The School will benefit greatly from Kaplan's resources and expertise, as Kaplan has an exceptional track record of acquiring and growing many schools in the U.S., infusing resources to introduce new programs, improve facilities, achieve higher levels of accreditation and serve growing student populations. We will in turn help Kaplan to develop accredited programs and strategic alliances in the European market and beyond."

Michael Meagher, Chief Executive, Dublin Business School, added, " We view this as an exciting development that will help to develop the depth and breath of course offerings available to our students."

About Kaplan:
In recent years, Kaplan has emerged as a leading provider of higher education in the U.S. With approximately 60 schools, Kaplan's Higher Education division provides certificate and degree programs in fields such as healthcare, business, information technology and legal studies, both online and on campus. Each of the schools is separately accredited by one of several national or regional accrediting agencies approved by the U.S. Department of Education. In 2002, this division served 44,000 students.

Kaplan (www.kaplan.com) is a premier provider of educational and career services for individuals, schools and businesses. In addition to Higher Education, Kaplan's divisions are: Kaplan Test Prep, which offers test prep and admissions services worldwide, including K12 services for schools; SCORE!, which offers after-school learning programs for children; and Kaplan Professional, which offers licensing and continuing education training and compliance tracking. A wholly-owned subsidiary of The Washington Post Company (NYSE: WPO), Kaplan reported $621 million in 2002 and nearly $600 million in revenue for the first nine months of 2003. Kaplan today has 700,000 students, nearly 20,000 employees and 3,000 classroom locations.

Press Contacts:

Paul McSharry (Ireland)
+353 1 6633 633 (o) or + 353 87 2406642
paulmc@fdireland.com

Melissa Mack (US)
212-492-5849 (o), 917-685-8152 (c)
mmack@kaplan.com

Carina Wong (US)
212-492-5992 (o), 646-436-1083 (c)
carina_wong@kaplan.com 

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