NEW YORK, Sept. 2 NY-Princeton-chairman
NEW YORK, Sept. 2 /PRNewswire-FirstCall/ -- The Princeton Review, Inc.
(Nasdaq: REVU), a leading provider of test preparation and educational support
services, today announced the appointment of David Lowenstein, a current
member of its Board of Directors, as Chairman of the company. Lowenstein
assumes the Chairman role from John S. Katzman, the company's founder, who is
leaving the company to start a new business, 2tor, Inc., whose initial program
involves online higher education (but not test preparation).
Lowenstein, 46, brings broad business management experience to his new
role as Chairman, serving most recently as President of Federated Network
Technologies, Inc., a start-up software company. The Princeton Review said he
has brought strong leadership to the Board during his tenure.
Mr. Katzman founded The Princeton Review in 1981 and, as Chief Executive
Officer until July 2007, helped establish it as one of the premier brand names
in American education. Mr. Katzman has most recently been on a six-month
sabbatical; his departure will coincide with its completion on September 5,
2008. He will continue to serve as a Director of the company.
Michael Perik, the current President and Chief Executive Officer of The
Princeton Review, said, "John Katzman has enhanced the academic lives of
millions of students. We wish him well in his new venture."
About The Princeton Review
The Princeton Review (Nasdaq: REVU) is a pioneer in the world of
education. Founded in 1981 and headquartered in New York City, the Company
offers private tutoring and classroom and online test preparation to help
students improve their scores in college and graduate school admissions tests.
The Company's free website, www.PrincetonReview.com, helps over half of
university-bound students research, apply to, prepare for, and learn how to
pay for their higher education. In addition, The Princeton Review works with
school districts around the U.S. to measurably strengthen students' academic
skills by connecting ongoing assessment with professional development and
instruction and by providing districts with college and career resources for
both students and guidance counselors. The Company also authors more than 200
print and software titles on test preparation, college and graduate school
selection and admissions, and related topics.
Safe Harbor Statement
All statements in this press release that are not historical are forward-
looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934. Such forward-looking statements may be identified by
words such as "believe," "intend," "expect," "may," "could," "would," "will,"
"should," "plan," "project," "contemplate," "anticipate," or similar
statements. Because these statements reflect The Princeton Review's current
views concerning future events, these forward-looking statements are subject
to risks and uncertainties. The Princeton Review's actual results could
differ materially from those anticipated in these forward-looking statements
as a result of many factors, including, but not limited to, demand for the
company's products and services; the company's ability to compete effectively
and adjust to rapidly changing market dynamics; the timing of revenue
recognition from significant contracts with schools and school districts;
market acceptance of the company's newer products and services; continued
federal and state focus on assessment and remediation in K-12 education; and
the other factors described under the caption "Risk Factors" in The Princeton
Review's most recent Forms 10-K and 10-Q filed with the Securities and
Exchange Commission. The Princeton Review undertakes no obligation to update
publicly any forward-looking statements contained in this press release.
SOURCE The Princeton Review, Inc.
