NEW YORK — July 17, 2008 — Scholastic Corporation (NASDAQ:SCHL) announced the following schedule and teleconference information for its fiscal fourth quarter and full year 2008 earnings release:

• Earnings Release: Thursday, July 24, 2008 at about 7:00 AM (Eastern) by public distribution and on the Company's website at www.scholastic.com.

• Teleconference: Thursday, July 24, 2008 at 8:30 AM (Eastern) hosted by Richard Robinson, Chairman, President and CEO; and Maureen O'Connell, Executive Vice President, CAO and CFO. To participate in the conference call, please dial (888) 868-9079. The simultaneous webcast will be in listen-only mode via the Company's website at www.scholastic.com.

• Archived Webcast and Audio Replay: The archived webcast and accompanying slides will be available on the Company's website shortly after the completion of the live call. An audio only replay of the call will be available toll-free at (800) 642-1687 or, for international calls, at (706) 645-9291 and by entering access code 52609115. The recording will be available through Wednesday, July 30.

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
Media: Kyle Good, 212-343-4563
Investor Relations: Jeffrey Mathews, 212-343-6741