- 20 April, 2004 -

Stanley Grant, President and CEO of S. J. S. Services, announced today that 11 franchises have been awarded by Mathnasium in the past 4 months. S. J. S., a franchise sales consulting company, was retained by Mathnasium to communicate its offering to prospective franchisees and to screen applicants. Grant said that new Mathnasium centers would be opening, or had already opened in Portland, Oregon; Yorba Linda, Cerritos, Costa Mesa, and Bakersfield, California; Honolulu, Hawaii; Cary, North Carolina; Huntsville, Alabama; Arlington and Plano, Texas; Pittsburg, Pennsylvania; with more franchises to be announced soon both domestic and international. Grant, a 25 year veteran of the franchising industry who specializes in education franchises, said that he is overwhelmed by the response. "I have never seen or even heard of -- this level of interest, "Grant said. "Although the Mathnasium franchise offering is relatively new, the volume of franchises awarded in such a short time catapults the company into the league of the fastest growing franchises in the United States." More than 500 prospective franchisees have contacted Mathnasium to enquire about its franchise offering, since the company made public its intention to franchise its learning centers late in 2003. Grant said that he has advised Mathnasium on how to maintain selectivity while growing aggressively. "Mathnasium needs to balance to two imperatives. It needs to build a franchise system on a foundation of carefully selected franchisees who believe in the company's mission and share its values. At the same time, Mathnasium needs to grow fast enough to achieve not only market penetration but market dominance." Grant said that Mathnasium has been opening one center every ten to twelve days. The company plans to limit center openings to a maximum of two centers per week over the remainder of 2004. A range of drivers is fueling the enthusiastic interest in Mathnasium, according to Grant. "People want to love the work they do. In Mathnasium, they see an opportunity to make a difference, have a fulfilling career, and achieve financial success." Grant said prospective Mathnasium franchisees have a bias for research. "They do their homework," he adds. "They want to see real market demand and effective, proprietary systems to service that demand." The biggest surprise, according to Grant, has been the high level of accomplishment and the diversity of Mathnasium franchise applicants. "Because the investment is relatively small, with an unusually low initial franchise fee, I expected applicants with very little business experience. We certainly welcome and are equipped to help business novices succeed. But many of our applicants have been highly successful in other fields. Mathnasium is experiencing strong demand from individuals with significant business, professional and academic backgrounds." Mathnasium attracts more conservative investors than many other franchises, he noted. "They don't want to put a lot of capital at risk. But they are nevertheless sophisticated investors, with many interested in opening multiple locations." The first franchisee to enter the Mathnasium community is an attorney who is also a CPA and has an MBA from New York University. Other franchisees include a scientist with a Ph.D. in Molecular Biology, an MBA trained business consultant from a premiere consulting company, an executive from a Fortune 100 company, a technology expert from a leading software company, and a college lecturer. Grant said the management of Mathnasium would like to see more school teachers and homemakers, along with the experienced professionals they are currently attracting. "I look forward to some real competition for franchise excellence awards within the Mathnasium system," he mused. "Will it be the school teachers, the Ph.D's or the Fortune 500 business executives on top at this time, it's too close to call!" About Mathnasium Learning Centers Mathnasium Learning Centers offer "math-only" after-school educational programs in an attractive and supportive setting for children to develop much-needed math skills and build confidence in their abilities. Developed over 30 years of hands-on experience with thousands of children, the Mathnasium educational method is designed for children of all ages and skill levels. Mathnasium offers an environment and method in which children really do develop the mathematics understanding they will need to succeed in the information age. Mathnasium is headquartered in 5120 W. Goldleaf Circle, Suite 130, Los Angeles, CA 90056. Mathnasium can be reached at (323) 389-1100, info@mathnasium.com, and www.mathnasium.com.

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