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Pearson Education Moves 500 Jobs Into Heart Of Boston

City’s Reputation As Publishing Center A Major Factor in Relocating Company’s School Publishing Group

Boston, MA – September 27, 2004 – Building on more than 136 years as a major business and cultural presence in Boston, global publishing leader Pearson Education today announced plans to relocate a key business unit and 500 related jobs to the city, a move that bolsters Boston’s reputation as one of the nation’s preeminent publishing centers.

Pearson, the world’s leader in educational publishing, will relocate its School Publishing Group to The Newbry, the landmark building formerly known as the New England Life Building, in Back Bay. The relocation enlarges the Boston footprint of the company’s influential publishing businesses. With this move, Pearson Education will have 1200 Boston-based employees, including 700 in Pearson’s Higher Education Group located at 75 Arlington Street.

Martha Smith, President, Pearson Education School Publishing Group, said, “From this great city, Pearson will be developing innovative, scientifically-based preK-12 instructional content enhanced with the newest advances in digital learning.

“As our need to expand became apparent, Boston’s vibrancy, location, and importance not only to our company but to the world of publishing made it the natural choice,” Smith continued. “And the Newbry, a newly modernized building rich in history, is a perfect site for our employees.”

Pearson Education’s close association with Boston also includes the company’s philanthropic and community service, which is focused on Jumpstart, the Boston-based national service and literacy organization. The Pearson Jumpstart Teacher Fellowship inspires talented university graduates to join the teaching profession.

In recognition of Pearson Education’s continuing contributions to Boston, and to celebrate the School Publishing Group’s move to the city, Mayor Thomas M. Menino is proclaiming September 28, 2004, to be “Pearson Day.” Mayor Menino will preside over a ribbon-cutting ceremony at the Newbry on that date.

“Pearson Education’s commitment to scholarship and creativity has made it a leader in the industry, and we are delighted that Pearson has chosen The Newbry,” said Alan M. Leventhal, Chairman and Chief Executive Officer at Beacon Capital Partners. “Pearson’s relocation to Boston signals a strong vote of confidence in the Back Bay as a desirable office location, and it is a wonderful complement to The Newbry.”

Pearson Education is leasing 102,751 square feet on the 9th and 10th floors of The Newbry for a 16-year term. Stephen D. Lynch, principal of CBRE/Lynch Murphy Walsh Advisors, represented the landlord, 501 Boylston Property LLC. Pearson Education was represented in the transaction by Phil Giunta, Executive Vice President/Partner and George Nugent, Senior Vice President/Partner, both of CB Richard Ellis/Whittier Partners. Pearson Education’s School Publishing Group’s move will be completed in August 2005.

About Pearson Education School Group
The School Publishing Group consists of Pearson Scott Foresman, the leading U.S. elementary educational publisher; Pearson Prentice Hall, the nation's leading educational secondary publisher for today's 6–12th grade classrooms; The Pearson Learning Group, the leading publisher of supplemental materials for grades preK-12; Pearson Early Learning, a leader in the field of early childhood education; and Pearson Digital Learning, the leader in technologies for proven, comprehensive curriculum, assessment, and enterprise data management.

About Pearson Education
Educating 100 million people worldwide, Pearson Education is the global leader in educational publishing. With brands such as Pearson Prentice Hall, Pearson Longman, Pearson Addison-Wesley, Pearson Allyn & Bacon, Pearson Benjamin Cummings, Pearson Custom Publishing, Pearson NCS, and many others, Pearson Education provides quality content, assessment tools and educational services in all available media, spanning the learning curve from birth through college and beyond. Pearson Education is part of Pearson (NYSE: PSO), the international media company. Pearson's primary operations also include the Financial Times Group and the Penguin Group.

Contact:
Rod Granger
Pearson Education
212-782-3486
rod.granger@pearsoned.com