<PAGE>
For Immediate Release
Sylvan Contacts:
Sean Creamer
VP Corporate Finance
(410) 843-8991
Chris Symanoskie
Investor Relations Manager
(410) 843-6394
SYLVAN LEARNING SYSTEMS, INC. ANNOUNCES FINAL
RESULTS OF SELF-TENDER OFFER
BALTIMORE, September 28, 2000 - Sylvan Learning Systems, Inc. (NASDAQ:
SLVN) today announced the final results of its self tender offer, which expired
on September 13, 2000.
Consistent with the preliminary results announced September 14, 2000,
Sylvan will purchase 4,552,042 shares of its common stock at 15.00 per share.
The 4,552,042 shares being purchased represent approximately 10.9% of the
company's 41.9 million shares outstanding on September 13, 2000. The aggregate
purchase price being paid will be approximately $68.3 million.
Douglas L. Becker, Chief Executive Officer, stated "Completion of this most
recent self-tender allowed the Company to acquire shares at a price we believe
to be attractive, while offering all shareholders the opportunity for greater
liquidity. This buyback will provide our continuing shareholders with a greater
share in the company's future."
The Dealer Manager for the tender offer was Credit Suisse First Boston and
the information agent was D.F. King & Co., Inc.
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 Education Solutions 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 / ASPECT, Canter and Sylvan International
Universities subsidiaries. Sylvan Ventures, Sylvan's new e-learning investment
vehicle, focuses on bringing emerging Internet technology solutions to the
education and training marketplace. Through its affiliate, Caliber Learning
Network, Inc. (NASDAQ: CLBR - news), Sylvan also has the ability to distribute
---- ----
world-class adult professional education and training programs.
# # # #
