Advantage Charter Schools Post Stellar ITBS Scores; Kindergarten Students Lead the Nation in Reading; Lower Grades Soar in Core Subjects.

BOSTON--(BUSINESS WIRE)--Sept. 2, 1999--

The Mystic Valley Advantage Regional Charter School in Malden and the Abby Kelly Foster Regional Charter School in Worcester released today impressive data on student performance on the Iowa Test of Basic Skills (ITBS), a widely respected national standardized test administered to all students in grades K-5 during the fall and spring of the Schools' first year. An independent scoring of the results shows strong gains in performance in the elementary grades and spectacular gains in kindergarten and grade one.

"We are extremely proud of our teachers and students at Mystic Valley Advantage Regional Charter School," said Henry Gennetti, Chairman of the School's Board of Trustees. Mary Beth Burke, Chairman of the Abby Kelly Foster Regional Charter School, added: "These impressive results provide further evidence that our students' parents have made a wonderful choice for their children's education."

"We have made phenomenal progress in our first year," said Doris Schroeder, Abby Kelly Foster School Director. Dr. Anthony Biegler, Mystic Valley School Director, added: "The test scores illustrate impressive learning gains, the product of highly skilled teachers, top-notch curricula, supportive parents, and engaged students."

Highlights of the ITBS results include:

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-    Kindergartners at Mystic Valley scored in the 96th percentile in
     reading, while Abby Kelly Foster kindergartners scored in the
     93rd percentile in reading and the 94th percentile in language

-    Abby Kelly Foster kindergartners increased scores across all core
     subjects from the 64th to the 85th percentile, a 21 percentile
     point gain

-    Mystic Valley first-graders increased scores from the 43rd to the
     81st percentile in language, a 38 percentile point gain

-    Abby Kelley Foster second- and third-graders gained 15 and 14
     percentile points respectively across reading, language, and
     math, while Mystic Valley fourth-graders increased their scores
     across all core subjects by nine percentile points, going from
     the 52nd percentile to the 61st percentile

-    Fifth-graders gained ten percentile points at Abby Kelly Foster,
     climbing from the 46th to the 56th percentile across the core
     subjects, and seven percentile points at Mystic Valley, going
     from the 56th to the 63rd percentile

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"We are extremely pleased with the substantial learning gains achieved at both schools. Not only did the schools demonstrate impressive growth in the early elementary grades, we saw significant progress in the upper grades, where students had only been with us for a small fraction of their time in school," said Theodor Rebarber, Chief Education Officer for Advantage Schools, which manages the Malden and Worcester charter schools. "Typically, educators expect no gains during the first year that a new curriculum is implemented, or even a slight decline, as teachers become familiar with the material and students adjust."

Results were reported for all students who were present for both the fall and the spring tests. Student answers were scored independently by Riverside Publishing, publishers of the ITBS. Analyses of the students' results on the pre- and post-tests were conducted by Ron Ripa, Director of Assessment for Advantage Schools.

The Mystic Valley Advantage Regional Charter School and the Abby Kelly Foster Regional Charter School both opened in August 1998 and each now serve over 600 students in grades K-6. Advantage Schools, a national education management company, was hired by the schools' Boards of Trustees to implement the Advantage curriculum and school design and to oversee the day-to-day operations of the schools. Both schools will continue to expand a grade each year; when fully developed they will provide a comprehensive K-12 program.

Advantage Schools, Inc. is a national leader in the emerging education management industry. Working with local school founders, the company opened its first two charter schools in 1997 and six additional schools in 1998. With the opening of nine new schools this fall, Advantage will serve more than 10,000 children from primarily low-income families during the 1999-2000 school year.

Each school will implement the Advantage school design, which includes rigorous academic standards, research-based curricula and instructional practices, and character education. Advantage currently operates in nine states and the District of Columbia. In addition to Malden and Worcester, Advantage cities include Phoenix, Arizona; Benton Harbor, Michigan; Albany, New York; Charlotte, North Carolina; Newark, New Jersey; Philadelphia, Pennsylvania; and Dallas, Houston, Midland, and San Antonio, Texas.