Contact: Scholastic Corporation
 Investors: Jeffrey Mathews 212-343-6741 (investorrelations@scholastic.com)
Media: Kyle Good 212-343-4563 (< ahref="mailto:kgood@scholastic.com">kgood@scholastic.com)

New York — SEPTEMBER 19, 2012 — Scholastic Corporation (NASDAQ: SCHL) announced that its Board of Directors today declared a quarterly cash dividend of $0.125 per share on the Company’s Class A and Common Stock for the second quarter of fiscal 2013. The dividend is payable on December 17, 2012 to all shareholders of record as of the close of business on October 31, 2012.

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 related services and children’s media. Scholastic creates quality books, print and technology-based learning materials and programs, magazines, multi-media and other products that help children learn both at school and at home. The Company distributes its products and services worldwide through a variety of channels, including school-based book clubs and book fairs, retail stores, schools, libraries, on-air, and online at www.scholastic.com.