Press Releases

FINANCIAL NEWS, EARNINGS RELEASES

PRESS RELEASE   For Immediate Release

Date: August 25, 1999

Contacts: James Peoples, 201-712-0090

Peoples Educational Holdings, Inc. Announces Additions to Board and Management

MAYWOOD, NJ, AUGUST 25, 1999 -- James Peoples, Chairman & CEO of Peoples Educational Holdings, Inc., (PEH) announced today the election of Mr. James P. Dolan to the Company's board of directors as well as the hiring of Mr. Matti Prima to the position of Senior Vice President of Business Development.

Mr. Dolan is the President, Chairman & CEO of Dolan Media Company, a Minneapolis-based business information company. Dolan Media currently operates 24 business units in 12 metropolitan areas, including business information databases, court and commercial newspapers, business newspapers, and related media operations. Mr. Dolan has a distinguished career as a media executive, investment banker, and entrepreneur including terms of employment with the Chicago Sun-Times, NewsCorp., and The Jordan Edmiston Group. Mr. Dolan will join the PEH board later this month.

Matti Prima will join PEH arriving from a position as VP- Finance of Siegel & Gale, a New York communications, consulting and interactive agency. Prior to that time, Mr. Prima was Director of Corporate Finance for KPMG Peat Marwick. He had also worked as an investment banker for The Jordan Edmiston Group and Henry Ansbacher, Inc., two New York firms focused on the publishing and media industry. Mr. Prima will begin his employment with the Company in mid-September.

"We are very pleased to announce the addition of Jim Dolan to our board of directors and of Matti Prima to our corporate staff with a particular emphasis on the extraordinary expertise in mergers and acquisitions these two individuals will bring to our company," said CEO James Peoples. "Given our recent growth in sales and profits, we now feel well positioned to begin a more aggressive and structured acquisition program which requires new highly talented personnel to properly identify, analyze, and implement," added Peoples.

This news release contains forward-looking statements regarding the expected performance of Peoples Educational Holdings. The achievement of results referred to in such statements is subject to certain risks and uncertainties, including the success of its sales and marketing efforts, its ability to attract new customers and compete effectively and changes in state and local levels of educational spending. Readers are cautioned not to place undue reliance upon forward-looking statements which reflect management's analysis only as of today's date. PEH does not intend to update any forward-looking statements.