SOURCE: Serebra Learning Corporation

February 13, 2006 10:00 ET

Serebra Reports Profitable Results for Third Quarter of Fiscal 2006

VANCOUVER, BC -- (MARKET WIRE) -- February 13, 2006 -- Serebra Learning Corporation (TSX-V: SBR), a global provider of e-learning solutions, today reported profitable results for the third quarter of fiscal 2006, which ended December 31, 2005.

Key Quarterly Financial Highlights:

--  Revenue of $1,678,755 compared to $605,549 for the same
    quarter a year ago
--  Royalties, selling and support costs of $1,309,316 compared
    to $348,740 a year ago
--  General and administrative costs including amortization of
    $263,353 compared to $189,797 for the same period last year
--  Profit of $106,086, compared to a profit of $67,012 for the
    quarter ended December 31, 2004
    

"The close of Serebra's third quarter and 2005 calendar year marks not only a period of strong operating performance for the company, but also further demonstrates that our international initiatives are working. We delivered balanced execution across most of our geographical territories, market segments and product categories," said Ted Moorhouse, president and CEO, Serebra Learning Corporation. "We are especially pleased with the improving business momentum in the United States, the strength of our Cortex Learning Management System and the acceleration of the EasyLearning program, which has become our fastest growing business segment. Our long-term product architecture strategy is taking hold. By coupling our advanced technologies with our international inroads, Serebra's approach is allowing customers to more effectively meet their education objectives. Going forward, we will continue to foster a culture of innovation, incorporating both internal development and external partnerships to anticipate the evolving needs of our customers."

On Behalf of the Board of Directors,

SEREBRA LEARNING CORPORATION

Ted Moorhouse

President and CEO

About Serebra Learning Corporation

Serebra Learning Corporation (TSX-V: SBR) designs and delivers e-learning solutions for corporations, including the Fortune 1000, universities and schools, government organizations and individuals. Backed by a library of over 3,500 courses and a global network of partners, Serebra's powerful Learning Management System, Serebra Cortex, hosts and manages Information Technology, Desktop Skills and Professional Development titles. Serebra is uniquely positioned to provide a broad range of on-line learning solutions to individuals who wish to advance their personal and professional development. For more information on Serebra, visit www.serebra.com and www.easylearning.org or call 800 567.7766.

About EasyLearning

The EasyLearning program (www.easylearning.org) facilitates and enhances a culture of lifelong learning. EasyLearning improves the lives of its users by providing the skills and tools needed to succeed in the new knowledge-based economy. EasyLearning was designed by Serebra to overcome a number of significant e-learning issues that have long been impediments to the dissemination of educational material: inconsistent infrastructure and intermittent on-line access. With this breakthrough, those enrolled in a Serebra course will experience cost-effective Internet connections, straightforward log-in procedures and timely courseware delivery.

Serebra Learning Corporation
Suite 600 - 1188 West Georgia Street
Vancouver, BC Canada V6E 4A2

T 604 676.5480
F 604 676.5490
Toll Free 1 800 567.7766
www.serebra.com
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact:

    Ted Moorhouse
    President and CEO
    Serebra Learning Corporation

    Tel: 604 676.5480
    Fax: 604 676.5490
    Toll Free: 800 567.7766
    Email Contact