Knowledge Investment Partners Successfully Launches Second Hedge Fund with over $50mm.

KIP Presidium Fund L.P. Expected to Close in 2007

CLEVELAND -- Knowledge Investment Partners (KIP) announced that it has launched the KIP Presidium Fund L.P. with over $50mm from major institutional investors and over $100 million already committed to the fund. KIP Presidium expects to have an initial closing of approximately $200mm later this year. The KIP Presidium Fund, KIP's second hedge fund, is a sector fund focused on education and related information services companies. KIP's first hedge fund, the KIP Education Fund, is in its 4th year. KIP manages the only dedicated hedge funds focused on the education sector and also has a separate private equity arm.

"Rob Herman, the portfolio manager for the new fund, has a proven track record as a successful hedge fund manager and adds valuable depth to KIP's team," said Robert C. Daugherty, KIP's Managing Partner and Chairman of the KIP Presidium Fund Investment Committee. "Our firm is focused exclusively on the education sector and we have developed in-house expertise on every sub-sector of the education market, supplementing this in-house knowledge with a network of industry experts."

Added Rob Herman, "KIP's information network has created, and will continue to create, proprietary trading ideas because of the difficulties many investors have in interpreting or having access to the unique characteristics of the sector." Daniel Pianko, who has significant education and investment experience, is the lead analyst on the KIP Presidium Fund. "The success of our launch is recognition of both the opportunity that education-related companies in the public markets represent and KIP's competitive information advantage in evaluating these companies," concluded Herman.

About KIP:

Established in 2002, Knowledge Investment Partners LLC (KIP) is the leading manager of alternative investments in the education sector. KIP manages capital on behalf of institutional investors and high net worth individuals. KIP has built its reputation on a consistent track record of financial returns, a distinctive approach that combines financial and operating skills, and a best-in-class team from the education and investment arenas. KIP has two hedge funds, Knowledge Investment Partners Education Fund LP, a market neutral, long short fund, and the KIP Presidium Fund LP. KIP also invests in the private securities of leading education businesses.