ARAMARK Completes Sale of Child Care Division to Knowledge Learning Corporation.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--May 12, 2003

ARAMARK (NYSE:RMK), a world leader in managed services, today announced that it has completed the sale of its ARAMARK Educational Resources division (AER) to Knowledge Learning Corporation, Inc. for $225 million and prepayment of a $40 million note for $25 million for total cash consideration of $250 million.

ARAMARK expects to record a gain of between $20-$25 million after tax in its fiscal third quarter.

AER is a leading provider of child care and early education services, with fiscal 2002 sales of approximately $455 million.

Knowledge Learning Corporation (KLC) is a leading provider of early childhood education programs and services operating under several names, including Children's Discovery Center, Knowledge Beginnings and Magic Years. KLC also operates employer-sponsored child development centers, before- and after-school programs and other educational enrichment programs. KLC is owned by Knowledge Universe Learning Group, the parent of diverse educational and training companies.

The combined company, called Knowledge Learning Corporation, will become one of the largest providers of early childhood educational programs and services in the nation, with over 800 community child care centers, 100 on-site or near-site corporate child care centers, and over 500 before- and after-school programs. Thomas Heymann, former president of The Disney Stores, Inc., is the new chief executive officer of the combined company.

About ARAMARK

ARAMARK is a world leader in providing managed services -- including food, facility and other support services and uniform and career apparel. ARAMARK has leadership positions serving the business, education, healthcare, government and sports and recreation segments. In FORTUNE Magazine's 2003 survey of the "Most Admired Companies in America," ARAMARK ranks No. 1 in the outsourcing services category and is No. 10 among all companies included in the survey by overall score as evaluated by peers within the industry. Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees serving clients in 18 countries.

Forward-Looking Statements

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Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond our control) that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements.

The forward-looking statements regarding such matters are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.

Factors that might cause such a difference include: unfavorable economic conditions, including ramifications of any future terrorist attacks; increased operating costs; shortages of qualified personnel; currency risks and other risks associated with international markets; risks associated with acquisitions, including acquisition integration costs; our ability to integrate and derive the expected benefits from our recent acquisitions, including our acquisition of ServiceMaster Management Services; competition; decline in attendance at client facilities; unpredictability of sales and expenses due to contract terms and terminations; high leverage; claims relating to the provision of food services; costs of compliance with governmental regulations; liability associated with non-compliance with governmental regulations, including regulations pertaining to food services and the environment; and seasonality.

For further information regarding risks and uncertainties associated with ARAMARK's business, please refer to the "Management's Discussion and Analysis of Results of Operations and Financial Condition" and "Risk Factors" sections of ARAMARK's SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting ARAMARK's investor relations department at www.aramark.com.

Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us.