Sylvan Learning Systems, Inc. Reports Strong First Quarter Results.

      Business Editors

      BALTIMORE--(BUSINESS WIRE)--April 26, 2001--

 Expansion and Acquisitions Generate Revenue Growth of 59% and EPS
        Growth of 43% Excluding The Impact of Sylvan Ventures

      Sylvan Learning Systems, Inc. (NASDAQ: SLVN) today announced
financial results for the quarter ended March 31, 2001.

      Recent Financial and Business Highlights

      --  First quarter 2001 EPS from continuing operations, excluding
        Sylvan Ventures, were $0.10 per share compared to $0.07 per
        share for the same quarter in 2000. These results were $0.02
        per share above the Company's Outlook guidance of $0.08 per
        share, excluding Sylvan Ventures.

      --  First quarter 2001 EPS from continuing operations, including
        Sylvan Ventures, were a loss of $0.31 per share.

      --  As evidence of Sylvan's reputation as a proven leader in
        education, Richard W. Riley, former U.S. Secretary of
        Education and former Governor of South Carolina, agreed to be
        nominated to serve on the boards of Sylvan Learning Systems
        and one of its subsidiaries, Sylvan International
        Universities.

      Post-Secondary

      --  Sylvan International Universities (SIU) announced total
        student enrollment growth of 45% at Universidad de Las
        Americas (UDLA), one of Chile's leading private and fully
        accredited universities. The number of students enrolled at
        UDLA is now 7,925, compared to 5,454 students at the same time
        last year.

      --  UDLA announced that it has opened a second campus in Santiago,
        Chile and has begun its first semester of instruction.

      --  Universidad Europea de Madrid CEES, part of the SIU network,
        became Europe's first known wireless campus with the
        introduction of a wireless local area network (LAN) developed
        in conjunction with Cisco Systems, Inc. This wireless campus
        offers students and faculty anytime, anywhere access to the
        Internet that will enhance the campus communities'
        communication, research capabilities, and access to
        educational resources.

      --  To capture more of the growing global demand for English
        language instruction, Wall Street Institute (WSI) commenced
        operations in three new countries. WSI opened one new
        corporate-owned center and 15 new franchised centers
        worldwide.

      --  Canter, Sylvan's teacher training subsidiary, announced an
        agreement with Walden University to offer a new specialization
        in elementary reading and literacy within Walden's existing
        Master's in Education.

      --  Enrollment in Canter's master's degree programs grew to 8,900
        students, an increase of 25% from the same term last year.

      K-12

      --  Sylvan Learning Centers division reported that same store
        sales for the first quarter of 2001 continue to track at
        growth rates above the 10% level. For over nine consecutive
        years, Sylvan Learning Centers division has generated
        double-digit same store sales growth.

      -- Sylvan Learning Centers reported that it opened 16 new
franchised locations in the first quarter of 2001.

      Sylvan Ventures

      --  eSylvan completed development of and launched its online
        assessment tools, thereby allowing the Company to offer its
        interactive online tutoring programs nationwide. eSylvan is
        currently in a nationwide beta test and expects a national
        rollout of its complete online offering later this year.

      --  iLearning signed several multi-year agreements including a
        six-year exclusive contract with the National Education
        Association (NEA) to develop an integrated, full-service
        education Internet portal that will offer a range of
        educational products and services to the more than 2.6 million
        NEA members.

      --  Sylvan Ventures acquired a 41% interest in Walden University,
        a pioneer in the fast-growing distance and online learning
        market for adults. Walden, a fully accredited university,
        offers Ph.D. and other graduate-level degree programs to
        students nationwide.

      Financial Results

      Total revenues from continuing operations for the first quarter of
2001 were $120.4 million, an increase of 59% compared to total
revenues of $75.5 million in the first quarter of 2000. Total
operating income for the quarter, excluding Sylvan Ventures, was $6.4
million in the first quarter of 2001 compared to $6.3 million in the
first quarter of 2000.
      Income from continuing operations after tax for the first quarter,
excluding Sylvan Ventures' results, was $3.9 million, or $0.10 per
share on shares outstanding of 38.7 million. This compares to $3.8
million (on a full-year tax rate basis), or $0.07 per share on shares
outstanding of 51.6 million for the same period in 2000. Growth at
Sylvan Learning Centers and acquisitions at Sylvan International
Universities drove operating results in the first quarter of 2001.
      For the quarter ended March 31, 2001, Sylvan reported a loss from
continuing operations of $11.6 million (including $15.5 million of
after tax losses associated with Sylvan Ventures and its portfolio
companies). Results for the previously announced dispositions of
Prometric and ASPECT are classified as discontinued operations in the
financial table that follows.
      Total cash and marketable securities at the end of the quarter
stood at approximately $185 million, while total corporate debt stood
at approximately $45 million, excluding the $100 million convertible
debenture. The Company made its final tax payment relating to the gain
on the sale of Prometric in March of 2001.
      Douglas Becker, Chairman and CEO, commented, "We are excited to
report that during the first quarter of 2001 each Sylvan business
division met or exceeded our expected operational and financial
milestones. This quarter demonstrates our ability to expand our
domestic and international businesses as well as deliver predictable
results. We are especially pleased with the strength of our Sylvan
International Universities division, which continues to show strong
student growth and improved financial visibility."
      Mr. Becker added, "Our strong performance this quarter puts us on
track for achieving our 2001 goals, particularly given the upcoming
second and fourth quarters, which are seasonally strong quarters for
our Sylvan International Universities division. We remain confident in
our year-end 2001 EPS guidance of $0.63 to $0.65 per share, excluding
Sylvan Ventures."
      Christopher Hoehn-Saric, Chairman and CEO, Sylvan Ventures,
stated, "The significant market adjustments that occurred in 2000
allowed us to take advantage of more reasonable valuations for
technology-based companies. This year, Sylvan Ventures is focused on
helping our existing portfolio companies develop and ensuring we
maintain financial flexibility as we seek additional investment
opportunities."

      Second Quarter 2001 Outlook

      The following statements are based on current expectations. These
statements are forward-looking, and actual results may differ
materially.

      --  The Company anticipates total revenues of $119 to $127 million
        for the second quarter 2001.

      --  Second quarter 2001 operating income excluding Sylvan Ventures
        is expected to be $14 to $16 million.

      --  General and administrative expenses are expected to be
        approximately $6 million.

      --  The Company currently believes that it will achieve EPS in the
        range of $0.20 to $0.21 per share for second quarter of 2001
        (excluding Sylvan Ventures).

      Sylvan Learning Group - Expects $75 to $80 million in revenue with
approximately 20% operating margins

      --  Sylvan Learning Centers expects revenues of $30 to $32 million
        with operating margins of approximately 25%.

      --  Sylvan Education Solutions anticipates revenues of $33 to $35
        million with operating margins of approximately 20%. Included
        within Sylvan Education Solutions is Canter, which expects
        approximately 30% operating margins and revenues between $13
        and $14 million.

      --  English Language Instruction revenues should range from $11 to
        $13 million with operating margins of approximately 5%.

      Sylvan International Universities (SIU) - Anticipates $44 to $47
million in revenue, with operating margins of approximately 10%, after
the impact of SIU overhead.

      Forward Looking Statements

      This release includes 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.
Political, economic, currency, tax, regulatory, technological,
competitive and other factors could cause actual results to differ
materially from those anticipated in the forward-looking statements.
Additional information regarding these risk factors and uncertainties
is detailed from time to time in the Company's filings with the
Securities and Exchange Commission, including but not limited to our
most recent Forms 10-K and 10-Q, available for viewing on our website.
(To access this information on our website, please click on "Investor
Relations," "SEC Filings").

      Sylvan Learning Systems, Inc. (www.sylvan.net) builds profitable,
market-leading, learning networks on a global scale. Sylvan provides
courses to adult students throughout the world in the areas of English
language, teacher training and accredited university offerings through
the Wall Street Institute, Canter and Associates, and Sylvan
International Universities subsidiaries. The Sylvan Learning Centers
and Sylvan Education Services divisions provides personalized
instruction services to K-12 students through direct consumer
relationships and under contract to school systems.
-0-
*T

            Sylvan Learning Systems, Inc. and Subsidiaries
                    Consolidated Income Statements
                  (Thousands, except per share data)

                                      Three Months Ended March 31,
                                   2001          2000      % Variance
                                 ---------    ----------   ----------

Revenues
    Franchise Services            $  9,109     $ 7,596          20%
    Company-owned
       Learning Centers             14,715      11,114          32%
    International                    4,018       3,949           2%
                                  --------    --------     --------
 Learning Centers total            27,842       22,659          23%

                                  --------    --------     --------

    Sylvan At School                19,805      19,834           0%
    Career Starters                  1,806         803         125%
    Canter                           5,159       5,308          -3%

                                  --------    --------     --------
 Education Solutions total          26,770      25,945           3%
                                  --------    --------     --------

 English Language
    Instruction total               13,017      12,435           5%
                                  --------    --------     --------


  Universidad Europea
       de Madrid (UEM)              16,063      14,501          11%
  Les Roches                         3,345           -          NA
  Universidad de
     Las Americas (UDLA)             2,728           -          NA
  Universidad del
   Valle de Mexico (UVM)            30,681           -          NA
                                   -------    --------     --------
   International
     Universities total             52,817      14,501          NA
                                   -------    --------     -------
Total Revenues                     120,446      75,540          59%
                                   -------    --------     --------

Operating Expense

  Divisional Operating
    Expenses - total               108,074      64,429          68%
  General & Administrative           5,986       4,801          25%

                                   -------     -------     --------

Total Operating Expenses           114,060      69,230          65%

Operating Income                     6,386       6,310           1%

Non-Operating items
   Interest & Other Income           3,132       2,721          15%
   Interest Expense                 (2,229)     (1,918)        -16%
   Equity in
    Affiliates of Sylvan              (126)       (596)         79%
   Minority Interest                (1,420)       (751)        -89%
   Exchange Gain/(Loss)                195          98          99%
                                   -------     -------      -------
Total Non-Operating items             (448)       (446)          0%

Pretax Income (Loss)
   before Sylvan Ventures            5,938       5,864           1%
   Income Tax Expense               (2,019)     (1,458)        -38%
  Sylvan's Interest
    in Sylvan Ventures (1)         (15,503)       (997)         NA
                                  --------     -------      -------

Income (Loss) from
 Continuing Operations             (11,584)      3,409          NA
                                   -------     -------      -------

Discontinued Operations:
   Income (loss) from
     operations of discontinued
     operations, net of tax              -      (3,868)        100%
   Gain (loss) on disposal
     of discontinued operations,
     after tax                           -     288,454        -100%
                                  --------    --------       ------

Net Income (Loss)                 $(11,584)  $ 287,995        -104%
                                  --------   ---------       ------

   Earnings per share

 Weighted Average
   Shares Outstanding - Basic       37,441      50,802
 Weighted Average
   Shares Outstanding - Diluted     37,441      51,570
   EPS - Net Income (Loss)          ($0.31)      $5.58
   EPS - Continuing Operations      ($0.31)      $0.07
   EPS - Operations prior
     to Sylvan Ventures              $0.10       $0.07
   Weighted Average Shares
        Used in Calculation         38,701      51,570

Operating Profit:
   Learning Centers                 $5,690      $5,001          14%
   Education Solutions              $1,675      $1,867         -10%
   English Language                   $688      $1,558         -56%
   International Universities       $4,319      $2,685          61%

      (1) 2001 Ventures loss is presented net of tax benefit ($8,969)
and minority interest allocations ($1,291). 2000 Ventures loss is
presented net of tax benefit ($665).

    --30--kk/ny*

    CONTACT: Sylvan Contacts
             Sean Creamer, 410/843-8991
             Steve Drake, 410/843-6295
             Chris Symanoskie, 410/843-6394

      KEYWORD: MARYLAND
      INDUSTRY KEYWORD: E-COMMERCE EDUCATION INTERNET EARNINGS