- 17 May, 2002 -

Futurekids founders, Peter Markovitz and David Ullendorff, announced today that they are partnering to launch Mathnasium LLP, a learning center concept which will specialize in teaching mathematics to the K 8 market. Instruction will take place after school in neighborhood learning centers which the partners plan on establishing in North America, as well as international markets. Futurekids inc. was founded 20 years ago in Los Angeles. The company is a world leader in technology literacy instruction for school children, as well as school teachers. Futurekids taught millions of students in thousands of local schools and learning center locations around the globe. Futurekids offices were established in 73 countries. The company was responsible for the first technology training received by many in a generation of young entrepreneurs and workers who helped build technology products, services and infrastructure, which transformed industry and lifestyle in many countries. Futurekids was sold in 1999 to education technology pioneers Bob and Jan Davidson, who built Davidson and Associates into the world's leading educational software company. In launching Mathnasium , Markovitz and Ullendorff have surprised their peers by going "back to basics". With Futurekids they led a global effort to promote the idea of technology literacy as a new set of skills which should be integrated into the school curriculum. Now, with math, they are embracing ancient skills. But they see certain parallels. "We like math instruction today for the same reason we embraced technology instruction two decades ago", says Ullendorff. "It's the combination of two elements. The first is massive demand. The second is that others are afraid of it". Ullendorff says that the difference with math is that the demand is real today, whereas, in the case of technology literacy, they predicted future demand and needed to create the market. "Other leading education executives think it's not much fun to teach math, and not fun to run a math instruction company", adds Markovitz, who started the first Futurekids center as a graduate student at USC in 1983. "The result is that major players in the education industry have passed on a great opportunity. Our view is that teaching math, and learning math, can be exciting. It's all a question of how it's done". Markovitz feels that the $5 billion market for after school math instruction is under-served and that existing companies in the field "invite challenge". "Competitors have used their successes to broaden menu offerings, or diversify into other businesses", he says. "The result has been diminished effectiveness and value for the consumer. The fact is, parents who are looking for extra help with math for their children, are forced to choose from offerings that are either too low on quality, or too high on price". Mathnasium will charge $145 per month for two or three sessions a week - an average of about $14 per session - far below the cost of private tutors or tutoring centers. To provide high quality instruction at this price Ullendorff, architect of Futurekids' landmark curriculum, needs to identify systems which deliver effective, engaging instruction, while keeping student/teacher ratios in check crucial to the business model. "Parents want measurable results. Their children want to get ahead, but have fun. We want to make a profit", says Ullendorff. There is more pressure than ever to do well in math. Only a few years ago, high math scores were crucial, only if a student wanted to go to a top level university. Today, in a markedly more competitive environment, even second and third tier universities are demanding high scores. Half of the SAT the most important independent measurement of student ability for universities in the United States is based on math. The prominence that is given to math in industry, and the academic community which prepares workers for industry, continues to grow. Experts expect the pressure to continue to build. "Math isn't going away," observes Ullendorff. "It's getting bigger." Mathnasium plans on opening a pilot center in Los Angeles the fall. About Mathnasium Learning Centers Mathnasium Learning Centers offer "math-only" after-school educational programs in an attractive and supportive setting for children to develop much-needed math skills and build confidence in their abilities. Developed over 30 years of hands-on experience with thousands of children, the Mathnasium educational method is designed for children of all ages and skill levels. Mathnasium offers an environment and method in which children really do develop the mathematics understanding they will need to succeed in the information age. Mathnasium is headquartered in 5120 W. Goldleaf Circle, Suite 130, Los Angeles, CA 90056. Mathnasium can be reached at (323) 389-1100, info@mathnasium.com, and www.mathnasium.com.

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