February 26, 2009 — New York, NY — Scholastic (NASDAQ: SCHL) announced today the launch of an online resource to help educators access up-to-date information about the American Recovery and Reinvestment Act of 2009 (ARRA). The information portal is available at www.scholastic.com/economicrecovery.

The information portal, which will be updated as new details become available, provides educators with:

• Frequently Asked Questions about how ARRA will directly impact their schools and districts,
• Fast facts about ARRA and how it will directly improve student achievement,
• Quick links to resources around the web that provide clear and useful explanations of ARRA, and
• Programs and resources that align to funding for Title I (Improving the Academic Achievement of the Disadvantaged), IDEA (Individuals with Disabilities Education Act), EETT (Enhancing Education through Technology) and other categories.

"School and district leaders have told us that they need a reliable source with easy-to-access and up-to-date information about the funding available through ARRA," said Clayton Wilcox, Vice President, Scholastic Education and Community Relations. "As a partner to American schools for almost 90 years, Scholastic is happy to make this information available on our heavily-trafficked website for educators.

"The increased funding for education in the economic stimulus package is good for schools and good for the country. We’re particularly pleased to see that funding for Title I and IDEA – programs that support the students who need it most — is nearly doubled in the Act. These struggling students are the population Scholastic has focused on for many years with innovative programs and resources that are proven to raise student achievement."

Wilcox added: "Effective and efficient use of funds is a shared responsibility, and we will continue to support districts with strategic consultation, rapid and efficient implementation, and ongoing training and support to ensure that this two-year increase in federal resources results in a permanent investment in our students' futures."

For more information about Scholastic 21st Century Learning Solutions and the American Recovery and Reinvestment Act, please visit www.scholastic.com/economicrecovery.

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.

Contact:

Kyle Good 212.343.4563
kgood@scholastic.com

Sarah Trabucchi 212.343.6424 strabucchi@scholastic.com