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Education Management Corporation Acquires Bassist College in Portland, Oregon.

SEATTLE--(BUSINESS WIRE)--Feb. 27, 1998--

- Establishes The Art Institutes International at Portland, EDMC's

17th School -

Education Management Corporation (Nasdaq: EDMC) today announced at its Investor Field Trip and Seminar held at The Art Institute of Seattle, that it has acquired Bassist College, based in Portland, Oregon. Coincident with the closing, the Company entered into a lease for 27,000 square feet to house the school over the next several years. The acquisition and the lease are subject to obtaining U.S. Department of Education approval and state and accreditation approvals. Terms of the acquisition were not disclosed.

Bassist College, with current student enrollment of approximately 160, is accredited by the Northwest Association of Schools and offers Associate's and Bachelor's degree programs in Apparel Design, Merchandising Management, and Interior Design, and a Bachelor's degree in Business Administration. Education Management will rename the school, The Art Institutes International at Portland.

Robert Knutson, Chairman and Chief Executive Officer, commented, "The acquisition of Bassist College is indicative of Education Management's strategy to add at least two new schools per year to our national network of education institutions. Portland is a growing metropolitan area and the student demographics are very favorable for our educational offerings. This is our 17th school, and 7th to offer Bachelor's degree programs. The College's current curriculum is complementary to ours, and we expect to expand the number of courses offered to mirror our other Art Institutes. Portland's proximity to Seattle will allow the opportunity for students completing Associate's degrees at The Art Institute of Seattle, to continue their education and earn a Bachelor's degree in certain fields in Portland."

Education Management Corporation is among the largest providers of proprietary post-secondary education in the United States, based on student enrollments and revenues. Through its operating units, The Art Institutes, The New York Restaurant School, The National Center for Paralegal Training, and The National Center for Professional Development, the Company offers associate's and bachelor's degree programs and non-degree programs in the areas of design, media arts, culinary arts, fashion and professional development. The Company has provided career-oriented education programs for 35 years, and its schools have graduated over 100,000 students.

This press 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 Securities and Exchange Commission filings.

CONTACT: Education Management Corporation

Robert McDowell

Senior Vice President and Chief Financial Officer

(412) 562-0900


Donna Stein/Stephanie Conzelman

Morgen-Walke Associates, Inc.

(212) 850-5600


Richard Dukas/Ann Travers

Morgen-Walke Associates, Inc.

(212) 850-5600
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Publication:Business Wire
Date:Feb 27, 1998
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