- 13 August, 2003 -

Mathnasium LLC announced today that it has established Mathnasium Center Licensing LLC, a subsidiary created exclusively to franchise Mathnasium Learning Centers. Peter Markovitz, education business pioneer and President of Mathnasium and David Ullendorff, veteran children's programming expert and Mathnasium Vice President, previously used the strategy of franchising to build Futurekids Inc., an education technology company that succeeded in launching over 690 franchise operations in more countries than any other education company in history. Markovitz pointed to a unique convergence of trends creating the opportunity for franchising the Mathnasium concept. "The information age demands a population with strong math skills," he explained. "Kids are not gaining the critical understanding they need in school, so parents look to after-school programs to fill in the gaps. At the same time, the economic shakeup has stirred entrepreneurship, through franchising opportunities in particular, as a solid way to build a rewarding career leaving behind concerns about the next round of layoffs." Mathnasium announced separately that Mitch Brown, formerly Director of Business Development for Ofoto (now a subsidiary of Kodak), would be joining the company to spearhead the franchising effort. Brown said that Mathnasium will be especially careful in the selection of its first few franchisees. "Our rollout will be highly controlled", he said. "We'll choose candidates who share our passion for helping children. Then we'll focus our resources on helping franchisees to emulate the success of the model center established in 2002." The original Mathnasium center surprised the company's executives with its rapid growth and the acclaim it received from parents. "We had high hopes," said Markovitz. "but the rate of growth far exceeded our expectations." Markovitz attributes the rate of growth to strong word of mouth. A parent survey showed that most parents believed that their children had advanced in their math skills in just a few months many with "significant" gains. And notably, more than two-thirds of parents noted improvements in their children's attitude toward math. "We believe we have developed a model that works and that parents demand," said Ullendorff. "We are excited to share this formula with franchisees." Brown envisions the franchise community's success "in a culture where franchisees and the company mutually support each other, and are relentlessly focused on providing every child with an effective and engaging experience." "We'll build a global brand not one center at a time," said Brown. "We'll build it one child at a time." 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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