Press Releases

FINANCIAL NEWS, EARNINGS RELEASES

PRESS RELEASE   For Immediate Release

Date: November 15, 1999

Contacts: James Peoples, 201-712-0090

Peoples Educational Holdings, Inc. Posts Record Sales & Earnings for Third Quarter

SADDLE BROOK, NJ, November 15,1999----Peoples Educational Holdings, Inc., (PEH) today announced financial results for the third quarter period ending September 30, 1999. For the quarter, net sales were $5,329,000, an increase of 106% compared to the prior year's third quarter, and income before taxes was $976,000, an increase of 105% compared to the prior year's third quarter. More complete financial information for the quarter is available as a part of the company's Form 10Q-SB filing which is available through the Securities & Exchange Commission including access at the web site www.sec.gov.

With respect to the quarterly results, James J. Peoples, President & CEO, said "We are very pleased that our third quarter results show such significant growth in sales and profits over prior periods. Quarterly results were particularly strong for our Advanced Placement product line, moreover we are highly encouraged by the reception that our test preparation products are getting, as we roll-out additional states, highlighted by this Fall's release of our first products for New York state."

PEH, located in Saddle Brook, NJ, conducts its primary operations through The Peoples Publishing Group (PPG), its wholly-owned subsidiary.

PPG is a niche market school publisher and focuses its efforts in three market areas:

• Instructional products (for the student-at-risk and multicultural markets)
• Test preparation (materials to prepare students for state and city tests
• Distribution of Advanced Placement materials (for the academically rigorous senior high and college prep markets)

PPG's proprietary products are supplemental in nature, meaning that they are predominantly soft-cover, high gross profit margin titles that can be sold efficiently through niche market catalogs, direct mail, telemarketing, and independent commission sales representatives.

This news release contains forward-looking statements regarding the expected performance of PEH and PPG. 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.