$150 million

Scholastic Corporation Announces Intent to Commence Modified Dutch Auction to Repurchase $150 Millon of Common Stock

New York — September 23, 2010 — Scholastic Corporation (NASDAQ: SCHL), the global children's publishing, education and media company, today announced that its Board of Directors has authorized the repurchase of up to $150 million of the Company’s common stock through a modified "Dutch Auction" tender offer. Scholastic intends to commence the tender offer during the week of September 27, 2010.

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