<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
NOBEL EDUCATION DYNAMICS, INC.
(Name of issuer)
Common Stock, Par Value $.001 Per Share
---------------------------------------
(Title of class of securities)
65488410
(CUSIP number)
Hugh Steven Wilson
Latham & Watkins
633 West Fifth Street, Suite 4000
Los Angeles, California 90071-2007
(213) 485-1234
-------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
January 14, 1998
-------------------------------------------------------
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
statement because of Rule 13d-1(b)(3) or (4), check the following box: [ ]
Page 1 of 31 Pages
Exhibit Index is on Page 28
<PAGE> 2
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
KU LEARNING, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC, AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
2
<PAGE> 3
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
EDU, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC, AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
3
<PAGE> 4
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
KNOWLEDGE UNIVERSE, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC, AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
4
<PAGE> 5
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
ET HOLDINGS, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
5
<PAGE> 6
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
ET CONSOLIDATED, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
6
<PAGE> 7
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
HAMPSTEAD ASSOCIATES, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
7
<PAGE> 8
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
MOLLUSK HOLDINGS, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
8
<PAGE> 9
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
CEPHALOPOD CORPORATION
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
9
<PAGE> 10
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
LAWRENCE INVESTMENTS, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
10
<PAGE> 11
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
LAWRENCE J. ELLISON
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
11
<PAGE> 12
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
RIDGEVIEW ASSOCIATES, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
12
<PAGE> 13
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
MICHAEL R. MILKEN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
13
<PAGE> 14
SCHEDULE 13D
CUSIP No. 65488410
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
LOWELL J. MILKEN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,283,500. See Item 5.
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,283,500. See Item 5.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
14
<PAGE> 15
ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the common stock, par value $.001 per share
(the "Common Stock"), of Nobel Education Dynamics, Inc., a Delaware corporation
(the "Company"). The address of the principal executive office of the Company is
Rose Tree Corporate Center II, 1400 N. Providence Road, Suite 3055, Media,
Pennsylvania 19063.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule is being filed by KU Learning, L.L.C., a Delaware limited
liability company ("KU Learning"), EDU, L.L.C., a Delaware limited liability
company ("EDU"), Knowledge Universe, L.L.C., a Delaware limited liability
company ("Knowledge Universe"), ET Holdings, L.L.C., a Delaware limited
liability company ("ET Holdings"), ET Consolidated, L.L.C., a Delaware limited
liability company ("ET Consolidated"), Hampstead Associates, L.L.C., a Delaware
limited liability company ("Hampstead"), Mollusk Holdings, LLC, a California
limited liability company ("Mollusk"), Cephalopod Corporation, a California
corporation ("Cephalopod"), Lawrence Investments , LLC, a California limited
liability company ("Lawrence"), Lawrence J. Ellison, an individual, Ridgeview
Associates, LLC, a California limited liability company ("Ridgeview"), Michael
R. Milken, an individual, and Lowell J. Milken, an individual (collectively, the
"Reporting Persons"). Except as otherwise indicated, the principal executive
offices and principal business of the Reporting Persons are located at 844
Moraga Drive, Los Angeles, California 90049.
The principal business of KU Learning is to acquire interests in, and/or
operate, other companies and businesses, primarily, but not limited to,
companies and businesses engaged in education. EDU is a member of KU Learning.
The principal business of EDU is to act as a member of KU Learning and other
affiliated companies. Knowledge Universe is the manager and a member of KU
Learning. The principal business of Knowledge Universe is to act as an operating
company and to acquire interests in, and/or operate, other companies and
businesses, primarily, but not limited to, companies and businesses engaged in
education and related industries.
ET Holdings is the manager of Knowledge Universe. The principal business
of ET Holdings is to act as the manager and as a member of Knowledge Universe.
ET Consolidated is the manager of ET Holdings. The principal business of ET
Consolidated is to act as the manager and a member of ET Holdings. Hampstead is
the manager of ET Consolidated and EDU. The principal business of Hampstead is
to act as the manager and as a member of ET Consolidated, EDU and other
affiliated companies. Ridgeview is the manager of Hampstead. The principal
business of Ridgeview is to act as the manager and as a member of Hampstead and
other affiliated companies.
Michael R. Milken and Lowell J. Milken are the managers of Ridgeview;
each of whom is also a member of the Board of Directors of Knowledge Universe,
ET Holdings, ET Consolidated and Hampstead. The principal business occupation of
Michael R. Milken is to act as a director of Knowledge Universe. The principal
business occupation of Lowell J. Milken is
15
<PAGE> 16
to act as a director of Knowledge Universe.
The principal business of Mollusk is to act as a member of Hampstead
and affiliated companies. Mollusk may also act as, or appoint, a co-manager of
Hampstead. The principal executive offices and principal business of Mollusk are
located c/o Andrew L. Dudnick, 351 California Street, 15th Floor, San Francisco,
CA 94104. Cephalopod and Lawrence are the managers of Mollusk.
The principal business of Cephalopod is to act as a member and manager
of Mollusk and other entities. The principal executive office and principal
business of Cephalopod are located c/o Carolyn Balkenhol, Oracle Corporation,
500 Oracle Parkway, Redwood Shores, California 94065. Lawrence J. Ellison
("Ellison") owns 100% of the equity securities of Cephalopod.
The principal business of Lawrence is to act as a member and manager of
Mollusk and other entities. Ellison and Philip B. Simon are the managers of
Lawrence. The principal executive office and principal business of Lawrence are
c/o Philip B. Simon, 101 Ygnacio Valley Road, Suite 310, Walnut Creek,
California 94596.
The principal business occupation of Ellison is Chairman and Chief
Executive Officer of Oracle Corporation. The principal executive office and
principal business of Oracle Corporation are located at 500 Oracle Parkway,
Redwood Shores, California 94065. Ellison is also a member of the Board of
Directors of Knowledge Universe, ET Holdings, ET Consolidated and Hampstead.
Michael R. Milken, Lowell J. Milken and Ellison may each be deemed to be
controlling persons of Hampstead, ET Holdings, ET Consolidated, Knowledge
Universe and KU Learning. Michael R. Milken and Lowell J. Milken may each be
deemed to be a controlling person of Ridgeview; Ellison may be deemed to be a
controlling person of Mollusk, Cephalopod and Lawrence.
The name, citizenship, business address, present principal occupation or
employment and, if applicable, the name, principal business and address of any
corporation or other organization in which such employment is conducted, of the
executive officers, if any, and directors, if any, of the Reporting Persons are
set forth in Appendix I hereto, which is incorporated herein by reference.
During the last five years none of the Reporting Persons nor any of the
members, directors or executive officers of the Reporting Persons has been
convicted in any criminal proceeding (excluding traffic violations or similar
misdemeanors), has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
is or was subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violations with respect to such laws.
On March 11, 1991, in the action entitled In the Matter of Michael R.
Milken, the Securities and Exchange Commission (the "SEC") instituted a
proceeding (Administrative Proceeding File No. 3-7461) pursuant to Section
15(b)(6) of the Securities Exchange Act of 1934
16
<PAGE> 17
(the "Exchange Act") (Release No. 34-28951) and ordered that Michael R. Milken
be barred from association with any broker, dealer, investment adviser,
investment company, or municipal securities dealer. On April 24, 1990, Michael
R. Milken consented to the entry of a final judgment in the U.S. District Court
for the Southern District of New York in Securities and Exchange Commission v.
Drexel Burnham Lambert Incorporated, et al. (88 Civ. 6209(MP)), restraining and
enjoining Michael R. Milken from engaging in transactions, acts, practices and
courses of business which constitute or would constitute violations of, or which
aid and abet or would aid and abet violations of, Section 7(c), 7(f), 9(a)(2),
10(b), 13(d), 14(e), 15(c)(3) and 17(a)(1) of the Exchange Act [15 U.S.C.
Sections 78g(c), 78g(f), 78i(a)(2), 78j(b), 78m(d), 78n(e), 78o(o)(3), and
78q(a)(1)], and Regulations T and X and Rules 10b-5, 10b-6, 13d-1, 13d-2, 14c-3,
15c3-1, 17a-3 and 17a-4 promulgated thereunder [12 C.F.R. Sections 220.1, et
seq. and 224.1, et seq., and 17 C.F.R. Sections 240.10b-5, 10b-6, 13d-1, 13d-2,
14e-3, 15c3-1, 17a-3 and 17a-4] and Section 17(a) of the Securities Act of 1933
("Securities Act") [15 U.S.C. Section 77q(a)].
On March 11, 1991, in the action entitled In the Matter of Lowell J.
Milken, the SEC instituted a proceeding (Administrative Proceeding File No.
3-7462) pursuant to Section 15(b)(6) of the Exchange Act (Release No. 34-28950)
and ordered that Lowell J. Milken be barred from association with any broker,
dealer, investment adviser, investment company, or municipal securities dealer.
On April 24, 1990, Lowell J. Milken consented to the entry of a final judgment
in the U.S. District Court for the Southern District of New York in Securities
and Exchange Commission v. Drexel Burnham Lambert Incorporated, et al. (88 Civ.
6209(MP)), restraining and enjoining Lowell J. Milken from engaging in
transactions, acts, practices and courses of business which constitute or would
constitute violations of, or which aid and abet or would aid and abet violations
of, Section 7(c), 7(f), 9(a)(2), 10(b), 13(d), 14(e), 15(c)(3) and 17(a)(1) of
the Exchange Act [15 U.S.C. Sections 78g(c), 78g(f), 78i(a)(2), 78j(b), 78m(d),
78n(e), 78o(o)(3), and 78q(a)(1)], and Regulations T and X and Rules 10b-5,
10b-6, 13d-1, 13d-2, 14c-3, 15c3-1, 17a-3 and 17a-4 promulgated thereunder [12
C.F.R. Sections 220.1, et seq. and 224.1, et seq., and 17 C.F.R. Sections
240.10b-5, 10b-6, 13d-1, 13d-2, 14e-3, 15c3-1, 17a-3 and 17a-4] and Section
17(a) of the Securities Act [15 U.S.C. Section 77q(a)].
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The amount of funds used to purchase the shares of the Common Stock
covered by this Schedule 13D (the "Shares") was approximately $8,045,875
(excluding brokerage commissions). Of such amount, $5,625,000 was provided to KU
Learning by Knowledge Universe as a capital contribution. The source of this
capital contribution was Knowledge Universe's working capital. EDU used
$2,420,875 from its working capital to purchase the balance of the Shares, which
Shares were subsequently distributed to Knowledge Universe, which in turn
contributed those Shares to KU Learning as a capital contribution. Knowledge
Universe and EDU have received direct and indirect capital contributions from
the Reporting Persons and from members of ET Holdings, ET Consolidated,
Ridgeview and Lawrence who are not Reporting Persons. Neither Knowledge Universe
nor EDU received capital contributions in contemplation of any purchase of
Shares.
17
<PAGE> 18
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons acquired the Shares in order to obtain an equity
position in the Company. The Reporting Persons intend to review on a continuing
basis their investment in the Shares in light of the factors discussed herein.
The Reporting Persons may from time to time, subject to the continuing
evaluation of the factors discussed herein, acquire additional shares in the
open market or in privately negotiated transactions, or by tender offer,
exchange offer or otherwise. The Reporting Persons may also explore a
transaction with the Company involving the possible acquisition of additional
securities from the Company which could result in the Reporting Persons
controlling a significantly larger portion of the equity in the Company,
including possibly a majority of the ownership of the Company. The Reporting
Persons may request representation on the Board of Directors of the Company. The
foregoing actions could result in the Reporting Persons participating in the
management of, and the formulation, determination and direction of basic
business decisions and policies of, the Company. Any such actions the Reporting
Persons might undertake will be dependent upon the Reporting Persons' review of
numerous factors, including, among other things, the availability of shares for
purchase and the price levels of such shares, general market and economic
conditions; on-going evaluation of the Company's business, financial condition,
operations and prospects; the relative attractiveness of alternative business
and investment opportunities; the actions of the management and the Board of
Directors of the Company; and other future developments.
Depending on the factors discussed herein, the Reporting Persons may,
from time to time, retain or sell all or a portion of the Shares in the open
market or in privately negotiated transactions.
Although the foregoing reflects activities presently contemplated by the
Reporting Persons with respect to the Company, the foregoing is subject to
change at any time. Except as set forth above, the Reporting Persons have no
present plans or intentions which would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of Schedule
13D.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY
The Reporting Persons beneficially own an aggregate of 1,283,500 shares
of the Common Stock. KU Learning has the power to vote and dispose of all such
shares. According to the Company's Quarterly Report on Form 10-Q for the quarter
ended September 30, 1997, there were 6,051,565 shares of the Common Stock
outstanding as of November 4, 1997. On that basis, the Reporting Persons' Shares
constitute approximately 21.2% of the outstanding shares of the Common Stock.
EDU is a Reporting Person because it purchased a portion of the Shares
which are now held by KU Learning. Knowledge Universe is the manager of KU
Learning, and in such capacity may be deemed to have the power to direct the
voting and disposition of, and to share
18
<PAGE> 19
beneficial ownership of, any shares of the Common Stock beneficially owned by KU
Learning. ET Holdings is the manager and a member of Knowledge Universe, and in
such capacities may be deemed to have the power to direct the voting and
disposition of, and to share beneficial ownership of, any shares of the Common
Stock beneficially owned by Knowledge Universe. ET Consolidated is the manager
and a member of ET Holdings, and in such capacities may be deemed to have the
power to direct the voting and disposition of, and to share beneficial ownership
of, any shares of the Common Stock beneficially owned by ET Holdings. Hampstead
is the manager and a member of ET Consolidated, and in such capacities may be
deemed to have the power to direct the voting and disposition of, and to share
beneficial ownership of, any shares of the Common Stock beneficially owned by ET
Consolidated. Mollusk, as a member of Hampstead, and by virtue of its ability to
act as, or appoint, a co-manager of Hampstead, may be deemed to have the power
to direct the voting and disposition of, and to share beneficial ownership of
any shares of the Common Stock beneficially owned by Hampstead. Cephalopod and
Lawrence are the managers and members of Mollusk, and in such capacities may be
deemed to have the power to direct the voting and disposition of, and to share
beneficial ownership of, any shares of the Common Stock beneficially owned by
Mollusk. Ridgeview is the manager and a member of Hampstead, and in such
capacities may be deemed to have the power to direct the voting and disposition
of, and to share beneficial ownership of, any shares of the Common Stock
beneficially owned by Hampstead. Michael R. Milken, Lowell J. Milken and Ellison
may each be deemed to be a controlling person of Hampstead, ET Consolidated, ET
Holdings, Knowledge Universe and KU Learning and, in such capacity, may each be
deemed to have the power to direct the voting and disposition of, and to share
beneficial ownership of, any shares of the Common Stock beneficially owned by
those entities. Michael R. Milken and Lowell J. Milken may each be deemed to be
a controlling person of Ridgeview and Ellison may be deemed to be a controlling
person of Cephalopod and Lawrence and, in such capacities, they may each be
deemed to have the power to direct the voting and disposition of, and to share
beneficial ownership of, any shares of the Common Stock beneficially owned by
Ridgeview, in the case of Michael R. Milken and Lowell J. Milken, and Cephalopod
and Lawrence, in the case of Ellison.
All transactions in the Common Stock effected by the Reporting Persons
during the past 60 days are set forth in Appendix II hereto which is
incorporated herein by reference. No person other than the Reporting Persons has
the right to receive or the power to direct the receipt of dividends from or,
the proceeds from the sale of, the Shares of the Common Stock covered by this
Schedule 13D.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE COMPANY.
Except as set forth above, none of the Reporting Persons, nor any of
their members, executive officers or directors, has any contracts, arrangements,
understandings or relationships with respect to securities of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 Joint Filing Agreement dated as of January 23, 1998.
19
<PAGE> 20
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: January 23, 1998 KU LEARNING, L.L.C.,
a Delaware limited liability company
/s/ RONALD PACKARD
-----------------------------------------------
By: Ronald Packard
Its: Vice President and Treasurer
EDU, L.L.C.
a Delaware limited liability company
By: HAMPSTEAD ASSOCIATES, L.L.C.,
a Delaware limited liability company
Its: Manager
By: RIDGEVIEW ASSOCIATES, LLC,
a California limited liability company
Its: Manager
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
KNOWLEDGE UNIVERSE, L.L.C.,
a Delaware limited liability company
/s/ STANLEY E. MARON
-----------------------------------------------
By: Stanley E. Maron
Its: Secretary
20
<PAGE> 21
ET HOLDINGS, L.L.C.
a Delaware limited liability company
/s/ STEVEN B. FINK
-----------------------------------------------
By: Steven B. Fink
Its: President
ET CONSOLIDATED, L.L.C.,
a Delaware limited liability company
By: HAMPSTEAD ASSOCIATES, L.L.C.,
a Delaware limited liability company
Its: Manager
By: RIDGEVIEW ASSOCIATES, LLC,
a California limited liability company
Its: Manager
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
HAMPSTEAD ASSOCIATES, L.L.C.,
a Delaware limited liability company
By: RIDGEVIEW ASSOCIATES, LLC
a California limited liability company
Its: Manager
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
21
<PAGE> 22
MOLLUSK HOLDINGS, LLC,
a California limited liability company
By: CEPHALOPOD CORPORATION
Its: Manager
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
By: Lawrence J. Ellison
Its: Chief Executive Officer
CEPHALOPOD CORPORATION,
a California Corporation
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
By: Lawrence J. Ellison
Its: Chief Executive Officer
LAWRENCE INVESTMENTS, LLC,
a California limited liability company
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
By: Lawrence J. Ellison
Its: Manager
RIDGEVIEW ASSOCIATES, LLC,
a California limited liability company
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
/s/ MICHAEL R. MILKEN
-----------------------------------------------
Michael R. Milken, an individual
/s/ LOWELL J. MILKEN
-----------------------------------------------
Lowell J. Milken, an individual
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
Lawrence J. Ellison, an individual
22
<PAGE> 23
APPENDIX I
The following are the names, principal occupation or employment and, if
applicable, the name, principal business and address of any corporation or other
organization in which such employment is conducted, of the individual directors
and executive officers, if any, of each of the Reporting Persons. Each person
listed below and each individual Reporting Person is a United States citizen.
KU LEARNING, L.L.C.
- -------------------
<TABLE>
<CAPTION>
Principal Business Occupation
Name and Business Address Position or Employment
- ------------------------- -------- -----------------------------
<S> <C> <C>
Thomas Kalinske Director President, Knowledge
1350 Old Bayshore President Universe, L.L.C.
Suite 260
Burlingame, CA 94010
Ronald Packard Director Executive employee of
844 Moraga Drive Vice President and Treasurer Knowledge Universe, L.L.C.
Los Angeles, CA 90049
Deborah Bond-Upson Director Executive employee of
1350 Old Bayshore Secretary Knowledge Universe, L.L.C.
Suite 260
Burlingame, CA 94010
</TABLE>
23
<PAGE> 24
EDU, L.L.C.
- -----------
<TABLE>
<CAPTION>
Principal Business Occupation
Name and Business Address Position or Employment
- ------------------------- -------- -----------------------------
<S> <C> <C>
Lawrence J. Ellison Director Chief Executive Officer,
Oracle Corporation, 500 Oracle Oracle Corporation
Parkway
Redwood Shores, CA 94065
Lowell J. Milken Director Director, Knowledge Universe,
844 Moraga Drive L.L.C.
Los Angeles, CA 90049
Michael R. Milken Director Director, Knowledge Universe,
844 Moraga Drive L.L.C.
Los Angeles, CA 90049
EDU has no executive officers.
</TABLE>
KNOWLEDGE UNIVERSE, L.L.C.
- ---------------------------
<TABLE>
<CAPTION>
Principal Business Occupation
Name and Business Address Position or Employment
- ------------------------- -------- -----------------------------
<S> <C> <C>
Lawrence J. Ellison Director (See above)
(See above)
Michael R.. Milken Director (See above)
(See above)
Lowell J. Milken Director (See above)
(See above)
Steven B. Fink Vice Chairman Vice Chairman, Knowledge
844 Moraga Drive Universe, L.L.C.
Los Angeles, CA 90049
Thomas Kalinske President (See above)
(See above)
Stanley E. Maron Secretary Shareholder, Maron & Sandler,
844 Moraga Drive A Professional Corporation
Los Angeles, CA 90049
</TABLE>
24
<PAGE> 25
ET HOLDINGS, L.L.C.
- -------------------
<TABLE>
<CAPTION>
Principal Business Occupation
Name and Business Address Position or Employment
- ------------------------- -------- -----------------------------
<S> <C> <C>
Lawrence J. Ellison Director See above
(See above)
Michael R. Milken Director See above
(See above)
Lowell J. Milken Director See above
(See above)
Steven B. Fink President See above
(See above)
Stanley E. Maron Secretary See above
(See above)
</TABLE>
ET CONSOLIDATED, L.L.C. AND HAMPSTEAD ASSOCIATES, L.L.C.
- --------------------------------------------------------
<TABLE>
<CAPTION>
Principal Business Occupation
Name and Business Address Position or Employment
- ------------------------- -------- -----------------------------
<S> <C> <C>
Lawrence J. Ellison Director See above
(See above)
Michael R. Milken Director See above
(See above)
Lowell J. Milken Director See above
(See above)
</TABLE>
ET Consolidated and Hampstead have no executive officers.
RIDGEVIEW ASSOCIATES, L.L.C., MOLLUSK HOLDINGS,
LLC AND LAWRENCE INVESTMENTS, LLC.
- -----------------------------------------------
Ridgeview, Mollusk and Lawrence have no directors or executive officers.
25
<PAGE> 26
CEPHALOPOD CORPORATION
- ----------------------
<TABLE>
<CAPTION>
Principal Business Occupation
Name and Business Address Position or Employment
- ------------------------- -------- -----------------------------
<S> <C> <C>
Lawrence J. Ellison Director, See above
(See above) Chief Executive Officer,
Chief Financial Officer,
Secretary
Philip B. Simon President Partner, Howson & Simon
101 Ygnacio Valley Road, CPA's L.P.
Suite 310 101 Ygnacio Valley Road,
Walnut Creek, CA 94596 Suite 310
Walnut Creek, CA 94596
</TABLE>
26
<PAGE> 27
APPENDIX II
TRANSACTIONS IN SHARES OF COMMON STOCK,
PAR VALUE $.001 PER SHARE (THE "COMMON STOCK")
OF NOBEL EDUCATION DYNAMICS, INC.
The following is the description of the transactions in the Common Stock
of the Company by the Reporting Persons since November 21, 1997. Except for the
transactions among the Reporting Persons described below, all such transactions
were purchases of shares of Common Stock effected through brokerage transactions
on the NASDAQ National Market System.
<TABLE>
<CAPTION>
AMOUNT OF SHARES OF COMMON
DATE OF PURCHASE STOCK PRICE PER SHARE
---------------- --------------------------- ---------------
<S> <C> <C>
12/30/97 10,000 $ 5.0000
12/31/97 30,000 5.2500
01/14/98 1,000,000 5.6250
---------
1,040,000
</TABLE>
In addition, on December 15, 1997, and on January 14, 1998, EDU
distributed 243,500 and 40,000 Shares, respectively, to Knowledge Universe (the
latter distribution consisting of the Shares purchased by EDU on December 30 and
December 31, 1997, as reflected on the above chart). On the same dates,
Knowledge Universe contributed the same Shares to KU Learning. For purposes of
these distributions by EDU to Knowledge Universe and the corresponding capital
contributions by Knowledge Universe to KU Learning, the Shares were valued at
the previous trading day's closing price, i.e., $5.1250, per Share for the
transactions on December 15, 1997, and $5.750 per Share for the transactions on
January 14, 1998.
27
<PAGE> 28
EXHIBIT INDEX
Exhibit 1 Joint Filing Agreement
28
<PAGE> 1
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) of the Securities Exchange Act of 1934,
as amended, the undersigned agree to the joint filing on behalf of each of them
of a Schedule 13D (including any and all amendents thereto) with respect to the
Common Stock of Nobel Education Dynamics, Inc., and further agree that this
Agreement shall be included as an Exhibit to such joint filings.
The undersigned further agree that each party hereto is responsible for
timely filing of such Schedule 13D and any amendments thereto, and for the
completeness and accuracy of the information concerning such party contained
therein; provided that no party is responsible for the completeness or accuracy
of the information concerning any other party, unless such party knows or has
reason to believe that such information is inaccurate.
This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original instrument, but all of such counterparts
together shall constitute but one agreement.
In evidence thereof the undersigned, being duly authorized, hereby
execute this Agreement this 23rd day of January 1998.
KU LEARNING, L.L.C.,
a Delaware limited liability company
/s/ RONALD PACKARD
-----------------------------------------------
By: Ronald Packard
Its: Vice President and Treasurer
EDU, L.L.C.
a Delaware limited liability company
By: HAMPSTEAD ASSOCIATES, L.L.C.,
a Delaware limited liability company
Its: Manager
By: RIDGEVIEW ASSOCIATES, LLC,
a California limited liability company
Its: Manager
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
29
<PAGE> 2
KNOWLEDGE UNIVERSE, L.L.C.,
a Delaware limited liability company
/s/ STANLEY E. MARON
-----------------------------------------------
By: Stanley E. Maron
Its: Secretary
ET HOLDINGS, L.L.C.
a Delaware limited liability company
/s/ STEVEN B. FINK
-----------------------------------------------
By: Steven B. Fink
Its: President
ET CONSOLIDATED, L.L.C.,
a Delaware limited liability company
By: HAMPSTEAD ASSOCIATES, L.L.C.,
a Delaware limited liability company
Its: Manager
By: RIDGEVIEW ASSOCIATES, LLC,
a California limited liability company
Its: Manager
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
HAMPSTEAD ASSOCIATES, L.L.C.,
a Delaware limited liability company
By: RIDGEVIEW ASSOCIATES, LLC
a California limited liability company
Its: Manager
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
30
<PAGE> 3
MOLLUSK HOLDINGS, LLC,
a California limited liability company
By: CEPHALOPOD CORPORATION
Its: Manager
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
By: Lawrence J. Ellison
Its: Chief Executive Officer
CEPHALOPOD CORPORATION,
a California Corporation
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
By: Lawrence J. Ellison
Its: Chief Executive Officer
LAWRENCE INVESTMENTS, LLC,
a California limited liability company
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
By: Lawrence J. Ellison
Its: Manager
RIDGEVIEW ASSOCIATES, LLC,
a California limited liability company
/s/ LOWELL J. MILKEN
-----------------------------------------------
By: Lowell J. Milken
Its: Manager
/s/ MICHAEL R. MILKEN
-----------------------------------------------
Michael R. Milken, an individual
/s/ LOWELL J. MILKEN
-----------------------------------------------
Lowell J. Milken, an individual
/s/ LAWRENCE J. ELLISON
-----------------------------------------------
Lawrence J. Ellison, an individual
31
