To: caly who wrote (59000 ) 3/1/1999 11:34:00 AM From: MikeUSA Respond to of 119973
In CLCX, time to drive shorts nuts! Monday March 1, 10:46 am Eastern Time Company Press Release Illinois School Superintendent Lifts Curbs On Computer Learning Center Schaumburg FAIRFAX, Va,--(BUSINESS WIRE)--March 1, 1999--Computer Learning Centers, Inc. (Nasdaq National Market: CLCX) (''CLC'') announced today that Illinois State Superintendent of Education Glenn W. McGee has authorized the Company's Schaumburg Learning Center to resume normal advertising, marketing and enrollment activities, effective today. The action lifts a cease-and-desist order issued in December 1998. CLC Schaumburg ''demonstrated the substantial personnel changes in management it has made to improve regulatory compliance,'' Michael J. Hernandez, Illinois State Board of Education (''ISBE'') General Counsel, wrote in a letter informing the Company of the decision to lift the restrictive order. ''We are pleased by the ISBE action,'' stated Reid Bechtle, CLC's Chief Executive Officer. ''It is particularly gratifying that the state has recognized the effort we have made to ensure our schools operate in full compliance with state requirements.'' ISBE representatives will be conducting a site visit at the Schaumburg Learning Center later this week. In his letter, Mr. Hernandez said that ''if regulatory compliance is further buttressed by the visit'' the state board will issue a report that will serve as ''conditions of final approval'' for the renewal of the CLC Schaumburg certificate. Mr. Hernandez said that a further site visit will be made in June 1999. ''If the conditions continue to be complied with, the year 2000 Schaumburg application, assuming all other reapplication requirements are met, will be approved without conditions.'' The ISBE letter concludes with the statement that a ''final document will be forthcoming after what we believe will be a successful site visit to memorialize the conditions for final approval'' of the Schaumburg Learning Center operating certificate. Computer Learning Centers provides information and computer-related education and training at 27 Learning Centers in the United States and Canada. The Company designs programs and courses to meet current information technology education needs, offering instruction focused on client/server systems and applications programming, networking administration and management, help desk operations and computer technical support. This press release contains forward-looking statements. The words ''believe,'' ''expect,'' ''intend,'' ''anticipate,'' and ''project,'' and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.