New York — September 23, 2009 — Scholastic Corporation (NASDAQ: SCHL) announced that its Board of Directors today declared a quarterly cash dividend of $0.075 per share on the Company’s Class A and Common Stock for the second quarter of fiscal 2010. The dividend is payable on December 15, 2009 to shareholders of record as of the close of business on October 30, 2009.

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
Scholastic Corporation

Investors
Jeffrey Mathews
212-343-6741

Media
Kyle Good
212-343-4563