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Pearson Signs Nine-year Testing Agreement with the National Association of Securities Dealers

Bloomington, MN, December 16, 2003 - Pearson VUE, the electronic testing business of Pearson Education, today announced that it has signed a nine-year testing agreement with the US National Association of Securities Dealers (NASD).

Under the agreement, Pearson VUE will provide computer-based qualification and continuing education exams through its network of more than 200 professional testing centres throughout the US, beginning in 2004. To support the contract, Pearson will build a new test centre - its largest yet - in the New York financial district. Pearson VUE currently offers NASD testing in countries outside the U.S.

As part of their registration process, securities professionals must pass an examination to demonstrate competence their areas of work. These mandatory qualification examinations cover a broad range of subjects on the markets, as well as the securities industry and its regulatory structure. Securities professionals are also subject to mandatory continuing education requirements. About 450,000 qualification exams and continuing education sessions are administered each year.

"NASD can be confident its exams will be delivered in an environment specifically built to provide a secure, controlled and consistent testing experience. NASD member firms and securities professionals will appreciate our high level of customer service, convenient test center locations and availability of appointment times," said Bob Whelan, vice president and general manager of Pearson VUE. "Our company and staff focus is on providing the best technology, exceptional service and the finest test centers. The result is a testing experience that is unmatched in quality.”

Pearson VUE is the electronic testing business of Pearson Education, the world's largest education company, which in turn is part of Pearson (NYSE: PSO; LSE: PSON), the international media company. Pearson's primary operations also include the Financial Times Group and the Penguin Group.

Media Contact
David Hakensen
david.hakensen@pearson.com