Banc of America Securities and Antares Capital Back Recent Funding Round for iMind Education Systems; Latest infusion brings total investment in iMind to over $15 million.

Business Editors/Education Writers

CORTE MADERA, Calif.--(BUSINESS WIRE)--Nov. 13, 2000

Two major investment firms, Antares Capital and Banc of America Securities, were the most recent to invest in iMind Education Systems, Inc. This latest funding brings the total investment to over $15 million.

Investors and educators continue to offer their unwavering support as iMind(TM) successfully delivers several significant product development projects and sees the adoption of its web-based delivery platform - iMind Education Server(TM) (iES) gain momentum.

In explaining their enthusiasm for iMind, Edward H. Schweitzer, Managing Director of Banc of America Securities said, "The strength behind iMind is in their ability to enable and integrate web-based curriculum and learning into the classroom. They have accomplished this by developing superb products that are delivered through plug-and-play solution components and by creating multiple revenue streams including both an ASP and annual subscription model. We believe this is a winning strategy and are supporting iMind with funding to help insure their continued success."

The iES platform provides a central access point through which instructional tools, curriculum resources, student data, communication tools and operational data may be exchanged and delivered to administrators, teachers, students, and parents. iMind has successfully developed and strategically licensed custom application based upon the iES to leading third party content publishers and educational organizations, including Riverdeep Interactive Learning, Ltd. (Riverdeep) and the National Academy Foundation.

Riverdeep, a leading online developer of K-12 interactive learning solutions with close to one million users, licensed iES for curriculum management tools, including standards correlation, lesson plan design, and an assignment generator. Through the partnership, iMind expands its third party software offering by distributing Riverdeep's vast collection of math, science, and language arts Web-based curriculum to teachers and students for use in the classroom and at home. This partnership marks the first combination of online curriculum with an online management platform in the K-12 education market.

iMind also recently completed a project for the National Academy Foundation (NAF), a not-for-profit educational organization that combines the knowledge and experience of education, business and government to better prepare high school students for their future careers. NAF uses the iES platform to provide industry-validated career education curriculum via the Web to its network of public secondary schools, with enrollment of over 26,000 public high school students in 400 Academies in 40 states and the District of Columbia.

iMind is now delivering iMind TutorPro(TM), a tool that uses a set of diagnostic assessments to pinpoint a students' academic skill levels and prescribe Personalized Education Plans with specific courses-of-action to advance students' skill development. All action-plan course content is delivered over the Internet, allowing students to complete courses anytime, anywhere.

"iMind has been working diligently to exceed the expectations of both the education and investor communities," said Mark A. Popp, iMind chairman and chief executive officer. "I am proud of our team and what they have accomplished. iMind is committed to becoming the leading education company- measured by both its market value and by the quality of the products and services it delivers."

About iMind Education Systems, Inc.

iMind Education Systems, Inc. develops and sells Internet-based education solutions that support student-achievement, teacher-effectiveness, administrative-accountability and parent-involvement. iMind offers the only solution that combines the four pillars of K-12 school technology: digital content, hardware, connectivity, and instructional management tools across multiple generations of both Macintosh(R) and Windows(R) computers. iMind is a scalable, standards-based, technology platform that offers a suite of Internet-based applications, iMind Integrator(TM), iMind TutorPro(TM), and iMind Internet Hubs, that are delivered through the iMind Education Server (iES) platform for the enhancement of learning. The company was founded in 1998 and is headquartered in Corte Madera, California. For more information, visit www.imind.com.

THE SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. iMind's expectations and goals are forward-looking statements. Actual results could differ from those projected in these statements due to portfolio characteristics, economic conditions, competition in the industry and other factors detailed from time to time in the Company's Securities and Exchange Commission filings.

iMind, iMind Integrator, iMind TutorPro, and iMind Education Server are trademarks of iMind Education Systems, Inc.