SOURCE: Scholastic Inc.

Scholastic Inc.

April 13, 2010 10:28 ET

Scholastic and Save the Children Establish Long-Term Education Recovery Fund to Benefit Haiti

Scholastic Invites Public Donations via New Save the Children Web Page; Releases New Edition of Inspirational Book "Hope Is an Open Heart," Bringing Scholastic's Contribution to the Scholastic Education Recovery Fund to $100,000

NEW YORK, NY--(Marketwire - April 13, 2010) -  Scholastic (NASDAQ: SCHL), the global children's publishing, education and media company, has teamed up with Save the Children, the not-for-profit organization that creates lasting change for children in need, to establish a long-term education recovery fund which will benefit the children of Haiti. The Scholastic Education Recovery Fund was seeded by a $50,000 contribution from Scholastic following the earthquake and will receive an additional $50,000 contribution from Scholastic in connection with this month's publication of a new paperback edition of Hope Is an Open Heart by Lauren Thompson (ISBN: 978-0-545-26888-2). The public can contribute directly to the Scholastic Education Recovery Fund to benefit Haiti (www.savethechildren.org/scholastic).

Hope Is an Open Heart, an inspirational children's picture book, was originally published by Scholastic Press in the wake of the 2005 Gulf Coast hurricanes to provide encouragement and inspiration for all children dealing with challenging situations. The new, revised version, available through all of Scholastic's distribution channels to schools and at bookstores nationwide in April 2010, features new photographs and text about the January earthquake that ravaged Haiti. The book pays tribute to children's resilience and ability to consider the brighter aspects of life -- to be hopeful -- even in the most difficult situations. In connection with the reissued book, Scholastic is donating an additional $50,000 to the Scholastic Education Recovery Fund, bringing the total corporate donation to $100,000.

"Scholastic supports organizations that share our mission to provide hope and help, on a long-term basis to children and families after natural disasters," says Karen Proctor, Vice President of Community Affairs and Government Relations at Scholastic. "Through the Education Recovery Fund we can support the rebuilding of Haiti by investing in the children -- recognizing that by providing them with educational resources, we are encouraging them to keep learning, growing and preparing for their futures as the next leaders of their country."

The Haitian Ministry of Education estimates that 90 percent of schools in the affected areas have been damaged or destroyed following the January earthquake, that over 400,000 children have been displaced, and that only 50 percent of students have returned to schools. In addition, many teachers and administrators in the Ministry of Education were killed or injured in the quake or were displaced from their homes.

Save the Children, a not-for-profit organization, is the leading independent organization creating lasting change in the lives of children in need in the United States and around the world. Recognized for their commitment to accountability, innovation, and collaboration, the organization's work takes them into the heart of communities, where they help children and families help themselves. The organization has worked in Haiti since 1978 and has more than 500 staff on the ground.

"We truly appreciate Scholastic's contribution and commitment to helping the children of Haiti get an education through their newly established Scholastic Education Recovery Fund," said Chloe O'Gara, Save the Children's director for Education and Child Development. "Three months after the Haiti quake, the country still faces tremendous challenges in getting children into school, some for the first time. But, they are not insurmountable. The Education Recovery Fund will help us reach more Haitian children through our education programs, getting them back into school and a routine among friends, where they can begin to recover from this crisis, and setting them on a path of learning that will benefit them for years to come."

Scholastic's focus on the long-term education recovery will ensure that needed resources will help rebuild educational infrastructure in Haiti and provide critical educational materials to children in need. Anyone interested in supporting the Scholastic Education Recovery Fund to benefit Haiti can contribute at www.savethechildren.org/scholastic.

For more information about Scholastic, visit our Media Room at http://mediaroom.scholastic.com.

Information concerning Save the Children Federation, Inc., including financial, licensing or charitable purpose(s) may be obtained, without cost, by writing to Save the Children Federation, Inc., Corporate Secretary, 54 Wilton Road, Westport, Connecticut 06880, by calling 1-800-728-3843 or by visiting www.savethechildren.org.