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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ken W who wrote (16716)	9/26/1999 12:41:00 AM
From: scouser	Read Replies (1) \| Respond to of 29382

Ken, whats the scoop on this trick with SLVN? Sylvan Learning Systems, Inc. to Spin Off Sylvan Prometric Testing Division FRIDAY, SEPTEMBER 24, 1999 8:11 AM - BusinessWire BALTIMORE, Sep 24, 1999 (BUSINESS WIRE) -- Sylvan Learning Systems, Inc. (Nasdaq:SLVN) today announced it has filed an S-1 registration statement with the Securities and Exchange Commission to issue shares of a new class of Common Stock for Prometric(R), Inc., its computer-based testing business. The Company intends to sell less than 20 percent of this new class of Common Stock to the public, with the remaining shares to be retained by Sylvan Learning Systems, Inc. Sylvan expects to distribute all of its remaining shares to Sylvan shareholders if it receives a ruling from the IRS that the distribution will be tax-free and no unforeseen adverse business or market conditions exist at the time of the distribution that would be detrimental to Sylvan and/or the stockholders. The offering will be led by Deutsche Banc Alex. Brown, with co-managers to be designated at a later date. Prometric Inc. (doing business as Sylvan Prometric(R)) is a global leader in the delivery of computer-based testing and assessment services for Information Technology industry certification, academic admission and professional licensure/certification. Through its network of more than 2,900 testing centers in 141 countries, Sylvan Prometric delivers more than 2,400 different computerized exams for more than 170 client organizations. In fiscal year 1998, Sylvan Prometric(R) had revenues of $179 million and delivered more than 3.5 million tests. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Sylvan Learning Systems, Inc. (www.sylvan.net) is the leading provider of educational services to families, schools and industry. The company provides lifelong educational services through four divisions and its subsidiary Prometric, Inc. The Sylvan Learning Centers division provides personalized instruction services to students of all ages and skill levels; the Sylvan Contract Education Services division provides supplemental education and other specialized services under contract to public and non-public schools; the Sylvan International Universities division provides higher education through international private universities; and the English Language training division, consisting of Wall Street Institute and ASPECT, delivers English language instruction to adult professionals and college students. Operating within these divisions, other Sylvan businesses include PACE, which provides performance-based consulting, skills and knowledge development and contracted training services to corporate and government organizations, and Canter, which produces training, development and graduate degree programs for teachers. Prometric, Inc. (doing business as Sylvan Prometric) delivers computer-based testing for academic admissions, Information Technology and professional certification programs. Through its affiliate, Caliber Learning Network, Inc., Sylvan also has the ability to distribute world-class adult professional education and training programs. Sylvan's services are delivered through more than 5, 000 education and testing centers around the globe.