The Princeton Review Appoints Frank F. Britt as Interim President of Penn Foster

The Princeton Review, Inc., a leading provider of test preparation, educational support services and online career education services, has appointed Frank F. Britt as interim president of Penn Foster, succeeding Thomas O’Keefe who will be resigning at the end of September to pursue other interests.

"We’d like to thank Tom for his significant contributions, including transforming Penn Foster into the online school it is today," said John Connolly, interim president and CEO of The Princeton Review. "With Tom’s upcoming departure, we have identified an accomplished and highly capable executive to lead Penn Foster as we implement critical initiatives aimed at engaging more committed students, introducing new courses and pursuing new customer acquisition channels. Frank Britt brings outstanding operational leadership skills and deep knowledge of the education community, as evidenced by his role in leading a trusted education platform like Pri-Med in delivering critical content to healthcare providers."

Britt, who also is an executive-in-residence at Bain Capital Ventures, previously served as president and CEO of M|C Holding Corporation and its portfolio companies, including M|C Communications and its brand, Pri-Med. Pri-Med is a communication and education platform for science and medicine, representing a community of healthcare providers and their need to access the latest information and education through a network of meetings, resources, online, and new media tools. Prior to joining M|C, he has 20 years of experience focused on helping build and lead tier-one solutions-based business services firms in the technology, industrial, education and consumer services industries. He has held a variety of senior executive level sales, marketing and operations positions, including at IBM Global Services, where he led a $400 million division, as well as directing the consumer products business-consulting group in the U.S.

"Penn Foster is a global leader in the online education industry, with a rich 100-plus year history," noted Britt. "I see tremendous opportunity to leverage the strength of the Penn Foster brand to empower adult learners in advancing their careers. I look forward to working with The Princeton Review team and facing the exciting challenges ahead."

About The Princeton Review

The Princeton Review (Nasdaq: REVU) has been a pioneer and leader in helping students achieve their higher education goals for 30 years through college and graduate school test preparation and private tutoring. With more than 165 print and digital publications and a free website, www.PrincetonReview.com, the company provides students and their parents with the resources to research, apply to, prepare for, and learn how to pay for higher education. The Princeton Review partners with schools and guidance counselors throughout the U.S. to assist in college readiness, test preparation and career planning services, helping more students pursue postsecondary education.

The company also owns and operates Penn Foster Education Group, a global leader in online education, providing career-focused degree and vocational programs in the fields of allied health, business, technology, education, and select trades through the Penn Foster High School and Penn Foster Career School (www.pennfoster.edu). Penn Foster creates the platform to leverage the company’s Career Education Partnerships division with the National Labor College (NLC). This venture was formed to bring high-quality bachelor degree completion and certificate programs to the AFL-CIO’s 13 million members and the working adults in their families. For more information, visit www.PrincetonReview.com.

Safe Harbor Statement
All statements in this press release that are not historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by words such as "believe," "intend," "expect," "may," "could," "would," "will," "should," "plan," "project," "contemplate," "anticipate," or similar statements. Because these statements reflect The Princeton Review’s current views concerning future events, these forward-looking statements are subject to risks and uncertainties. The Princeton Review’s actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors, including, but not limited to, demand for the company’s products and services; the company’s ability to compete effectively and adjust to rapidly changing market dynamics; the timing of revenue recognition from significant contracts with schools and school districts; market acceptance of the company’s newer products and services; continued federal and state focus on assessment and remediation in K-12 education; and the other factors described under the caption "Risk Factors" in The Princeton Review’s most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. The Princeton Review undertakes no obligation to update publicly any forward-looking statements contained in this press release.

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