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Exhibit 99.2
For Immediate Release
Sylvan Contacts:
Sean Creamer
Vice President Corporate Finance
410-843-8991
Chris Symanoskie
Investor Relations Manager
410-843-6394
SYLVAN LEARNING SYSTEMS ANNOUNCES SALE OF ASPECT
BALTIMORE, MD, September 8, 2000-- Sylvan Learning Systems (NASDAQ: SLVN), a
leading provider of educational services, today announced that it has signed a
definitive agreement to sell Aspect, Sylvan's English language instruction
subsidiary.
Aspect is being purchased for $22 million in cash by a management group backed
by Warburg Pincus. Warburg Pincus is a major global private equity investment
firm that has invested more than $10 billion in over 300 diverse companies since
1971. The firm manages approximately $10 billion in assets invested in 24
countries with a further $4 billion available for investment. Based in New
York, the firm also has offices in London, Munich, Hong Kong, Tokyo, Singapore,
and Sao Paulo.
The transaction is expected to close within the next 30 days, subject to certain
regulatory approvals.
About Sylvan Learning Systems:
Sylvan Learning Systems, Inc. (www.sylvan.net) is the leading provider of
educational services to families, schools and industry. The Sylvan Learning
Centers and Educational Solutions divisions provide personalized instruction
services to K-12 students through direct consumer relationships and under
contract to school systems. 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 Sylvan
International Universities subsidiaries. Sylvan Ventures, Sylvan's new e-
learning investment vehicle, focuses on brining emerging Internet technology
solutions to the education and training marketplace. Through its affiliate,
Caliber Learning Network, Inc. (NASDAQ:CLBR), Sylvan also has the ability to
distribute world-class adult professional education and training programs.
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This 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 Security and Exchange Commission filings.
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