Caliber Learning Network Completes Initial Public Offering of 5.7 Million Shares.

BALTIMORE--(BUSINESS WIRE)--May 5, 1998--Caliber Learning Network, Inc. today announced it has completed the initial public offering of 5.7 million shares of Common Stock priced at $14.00 per share. The shares will begin trading today on The Nasdaq National Market under the symbol "CLBR." The offering was managed by BT Alex. Brown and NationsBanc Montgomery Securities LLC.

Caliber sold 4.5 million shares of Common Stock, and a stockholder of the Company sold 1.2 million shares in the offering. The Company and the selling stockholder have granted the underwriters a 30-day option to purchase up to 855,000 additional shares of Common Stock, solely to cover over-allotments, if any. Proceeds to the Company will be used to repay debt and for general corporate purposes.

This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

A copy of the prospectus relating to this security may be obtained by calling BT Alex. Brown at [phone] or NationsBanc Montgomery Securities at [phone].

Caliber Learning Network, Inc. is establishing a state-of-the-art, graduate level learning and professional training distribution network throughout the United States designed to meet the needs of prominent universities, major corporations and working adults. Caliber intends to distribute courses developed by prominent universities and to distribute professional development and training programs to Fortune 1000 companies. Currently the Company has 38 Caliber Campuses. Sylvan and MCI organized Caliber in November 1996, bringing together the educational services expertise of Sylvan and the technology and telecommunications expertise of MCI. -0-

This release may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the Company's Security and Exchange Commission filings.

CONTACT: Caliber Learning Network, Inc.

Rick Frier

Chief Financial Officer

410/843-8000

or

INVESTOR CONTACTS:

Donna Stein/Stephanie Conzelman

Morgen-Walke Associates, Inc.

212/850-5600

PRESS CONTACTS:

Stacy Berns/ Jeff Siegel

Morgen-Walke Associates, Inc.

212/850-5600