The Princeton Review's Joint Venture with National Labor College Approved by Middle States Commission on Higher Education

FRAMINGHAM, Mass., Nov. 24, 2010 /PRNewswire-FirstCall/ -- The Princeton Review, Inc. (Nasdaq: REVU), a leading provider of test preparation, educational support services and online career education services, announced that the National Labor College has received approval from the Middle States Commission on Higher Education to move forward with its contractual joint venture with The Princeton Review. The approval will become effective upon the State of Maryland's recognition of the NLC's initial programs under this joint venture, which is expected by year end.

The Princeton Review's joint venture with the NLC brings the technical and financial resources of The Princeton Review and its subsidiary, Penn Foster, to support the NLC's delivery of new academic programs and expanded educational opportunities for over 13 million working adults who are members of AFL-CIO unions.

"We are pleased that the NLC will now move forward with its expansion plan," said Michael Perik, President and CEO of The Princeton Review. "This is an important milestone for our joint venture with the NLC and the expansion of our support for higher education. We are continuing to work toward an expected launch of the program in the Spring of 2011."

About The Princeton Review

The Princeton Review (Nasdaq: REVU) has been a pioneer and leader in helping students achieve their higher education goals for more than 28 years through college and graduate school test preparation and private tutoring. With more than 165 print and digital publications and a free website, www.PrincetonReview.com, the company provides students and their parents with the resources to research, apply to, prepare for, and learn how to pay for higher education. The Princeton Review partners with schools and guidance counselors throughout the U.S. to assist in college readiness, test preparation and career planning services, helping more students pursue postsecondary education.

The company also owns and operates Penn Foster Education Group, a global leader in online education, providing career-focused degree and vocational programs in the fields of allied health, business, technology, education, and select trades through the Penn Foster High School and Penn Foster Career School (www.pennfoster.edu). Penn Foster creates the platform to leverage the company's Career Education Partnerships division which is comprised of ventures with the National Labor College (NLC) and Community College Partnerships (CCP). The venture with the NLC was formed to bring high-quality bachelor degree completion and certificate programs to the AFL-CIO's 13 million members and the working adults in their families. The CCP venture is a partnership with community colleges to expand distance and hybrid learning opportunities. For more information, visit www.PrincetonReview.com.

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, the ability of the NLC to obtain and maintain required regulatory approvals and licenses; the performance and compliance by other parties of the terms of contractual relationships; demand and competition for the academic offerings of the NLC; the company's ability to use certain operations of Penn Foster to support the venture with the NLC; and the other factors described under the caption "Risk Factors" in The Princeton Review's most recent Form 10-K filed with the Securities and Exchange Commission, and in its other filings. The Princeton Review undertakes no obligation to update publicly any forward-looking statements contained in this press release.

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SOURCE The Princeton Review, Inc.