SOURCE: Scholastic Inc.

March 18, 2008 10:29 ET

Scholastic Names Michael Hansen Executive Vice President Overseeing Scholastic Book Fairs and Scholastic International

NEW YORK, NY--(Marketwire - March 18, 2008) - Scholastic (NASDAQ: SCHL), the global children's publishing, education and media company, today announced the appointment of Michael Hansen as Executive Vice President of the Company and President of Book Fairs and International. Mr. Hansen, who has served as President and CEO of Harcourt Assessment, Inc. since 2006, is an experienced executive with significant accomplishments in publishing and media businesses. In his new role, he will be responsible for the strategic direction of two important divisions of Scholastic that, combined, generate more than $800 million in annual revenue. Mr. Hansen will join the Management Executive Committee and will report to Richard Robinson, Chairman, President and CEO of Scholastic, who has been overseeing Scholastic Book Fairs since last September.

Alan Boyko, President of Scholastic Book Fairs, located in Lake Mary, Florida, remains in that role and will report to Mr. Hansen. Hugh Roome, who has been President of Scholastic International since 2001 and built the international business into a major contributor to the Company, has been named to a new position of President of Consumer and Professional Publishing. He will continue to operate Scholastic consumer and professional magazines, Quality Education Data (QED), and Scholastic Marketing Partners. In addition, he will develop a plan for online courses for grades 11-12 and post-secondary.

In making the announcement, Mr. Robinson said, "Michael Hansen will be a very strong addition to the management team in important areas of growth and profitability within Scholastic. He brings a strong track record, both domestically and internationally, and a unique combination of strategic thinking ability, decisiveness and team-building skills. His arrival will also free some of my time to work on the Company's digital strategy which is so important to our future."

Michael Hansen was born in Germany and has lived and worked in the U.S. for more than 20 years. He began his career in 1989 as a consultant with the Boston Consulting Group, where he stayed for 11 years, becoming a partner and developing a New York-based media practice. Following a one-year position at Proxicom, Inc., he joined Bertelsmann AG in 2001 as Executive Vice President, Operational Excellence. At Bertelsmann, Mr. Hansen helped improve operations in consumer publishing, direct marketing and the music business.

Most recently, as CEO of Harcourt Assessment, he was responsible for one of the strongest business performance improvements in the education field in which sustained revenue growth and rapid operating income improvement led to the successful sale of the business to Pearson PLC.

Mr. Hansen holds a law degree from the University of Bonn and earned his MBA at Columbia Graduate School of Business in New York. He lives in New York City with his wife and 3 young children.

About Scholastic

Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books and a leader in educational technology and children's media. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs and school-based book fairs, retail stores, schools, libraries, television networks and the Company's Internet Site, www.scholastic.com.

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