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Presentation for First Analysis

Presentation for First Analysis. Schoolco March 22, 2001. IHI Vision. Mission Statement

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Presentation for First Analysis

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  1. Presentation forFirst Analysis Schoolco March 22, 2001

  2. IHI Vision • Mission Statement • To build an industry leading post-secondary and vocational education company through the acquisition, integration and consolidation of operations and assets of acquired companies under a strong management team with the ultimate exit strategy of taking the company public.

  3. InterboroFinancial Data For more info see tabs 2 and 11 in the appendix

  4. Value Proposition of IHI Programs • Provide vocational education and practical business skills for high-demand jobs • At reasonable and affordable prices • In accelerated time frames • With superior quality training • Leverages Intellectual Assets of EVCI • Proprietary videoconferencing technology • Highly experienced management team • Professional acquisition team • Ability to integrate marketing strategies

  5. Target Markets IBS and Interboro Institute Strategic Markets • Adults seeking job specific training • to change careers • to upgrade skills • to rejoin the workforce after an absence • High school graduates seeking • preparation for vocational employment • certification and licensing • basic skills enhancement (e.g. ESL) For more info see tab 2 in the appendix

  6. Target Markets IBS and Interboro Institute Expanded Strategic Initiatives • Non-Traditional Students • Women and minority students • IBS/Interboro Alumni • International students • Videoconferencing and asynchronous distance learning • Continuing education • Job certification and licensing • Undergraduate and graduate degrees • Double cohort 2003 in Ontario For more info see tab 2 and tab 6 in the appendix

  7. Target Markets Canadian Market Size • 25 million Canadians between the ages of 18-35 • Five million post secondary education candidates • In IT alone, there are 50,000 vacant jobs Greater New York Market Size • Five million New Yorkers between the ages of 18-35 • One million post secondary education candidates • In ophthalmic dispensing, Interboro is #1 in New York state For more info see tab 6 in the appendix

  8. Enrollment International Business Schools • Actual 2000……………..8,630 students • Projected 2001………..9,541 students • Projected 2002……….10,495 students Interboro Institute • Actual 2000……………..2,377 students • Projected 2001………..2,910 students • Projected 2002………..3,200 students For more info see tabs 2, 3,4,5,10 and 12 in the appendix

  9. Enrollments byMajor Programs International Business Schools • Business Administration……………………..33.5% • Administrative Studies……………………...31.3% • Information Technology……………………..28.9% • Health Care…………………………………………..6.3% Interboro Institute • Computer Studies………………………………….28% • Business Management and Accounting...28% • Paralegal and Secretarial Science………..30% • Ophthalmology……………………………………..11% • Security…………………………………………………..3% For more info see tabs 2, 3, 4, 5 and 10 in the appendix

  10. IBS Competition Community Colleges Private Vocational Schools • DeVry • Academy of Learning • Institute for Computer Studies • CDI Education Corporation • Herzing Academy • ITI Education Corporation For more info see tab 2 in the appendix

  11. Interboro Competition Community Colleges • City University of NY Community College • Hostos Community College Proprietary Colleges • DeVry • Monroe • Katherine Gibbs Selected Four Year Colleges • Mercy College • College of Insurance

  12. IBS Strategy • #1 proprietary school in Canada • Establish several new locations in Canada and United States • Create new vocational and academic programs • Increase retention and placement rates of students • Increase facility utilization for evening and weekend classes • Increase target market penetration • Increase international student population • Utilize EVCI videoconferencing technologies to maximize economies of scale and profits For more info see tabs 1, 2 and 3 in the appendix

  13. IBS Financial Strategy • Profitable operations will go to bottom line through restructuring of debt (2001) • Continued emphasis on bringing down default rate • Enhance revenue through aggressive growth strategy • Close unprofitable IBS locations • Increase EBIDTA over next 3 years from 8% in 2000 to 22% • Increase margins for IBS For more info see tabs 2, 4, 9 and 11 in the appendix

  14. Interboro Strategy • Continue to significantly increase revenue, EBIDTA, profits • Open new Extension Centers and Branch Campuses throughout New York state • Create new Associate and Bachelor Degree programs • Increase international student population • Incorporate IBS modular curriculum system as part of Interboro’s vocational programs • Increase student retention and placement rates • Utilize EVCI videoconferencing technologies to maximize economies of scale and profits For more info see tabs 1, 2, 3 and 12 in the appendix

  15. IHI Strategy • Acquire independent educational facilities, with at least one million dollars in EBITDA • Target between two and four acquisitions per year • Open new locations to address different student market niches • Attract experienced, senior level management with proven records of excellent performance • Increase shareholder value For more info see tabs 1 and 2 in the appendix

  16. Interboro Holding Executive Management Team • Dr. Arol I. Buntzman, Chairman and CEO • Dr. John J. McGrath, President and Director • Richard Goldenberg, CFO and Director • Allan N. Ebedes, President and COO (IBS) • Stephen H. Adolphus, President (Interboro Inst.) • Arthur Goldberg, Chief Financial Consultant (IHI)

  17. Interboro Holding Senior Management Team • Philip D. Forster, Chief Financial Officer (IBS) • Dr. Norman Puffett, VP for Academic Projects (EVCI) • Frank Gallo, Vice President for Operations (EVCI) • Kay Schmalz, VP for Regulation and Compliance (EVCI) • William Neumeister, Vice President/Technology (EVCI) • Ove Jornaes, Exec. Director of Info Technology (EVCI) • Michael J. O’Brien, General Counsel (EVCI)

  18. Use of ProceedsU.S.$8 million raise • Proceeds $8,000,000 • Retire Bank Debt $3,333,000 • Retire 1/2 debenture 899,000 • Other (see schedule) 2,588,000 6,820,000 • Working Capital$1,180,000 For more info see tab 9 in the appendix

  19. IHIConsolidated Numbers For more info see tabs 2 and 11 in the appendix

  20. Conclusion: Investment Drivers • IBS is one of only two private Canadian vocational schools with their own financial aid student processing center • Increasing “skills gap” in Canada, exacerbated by “brain drain” to USA • Canadian public higher education system unable to meet the needs of today’s modern workplace • Increasing numbers of unserved and new student population segments • More flexible training options required by busy adults (course times, duration of classes, scheduling etc.) • Expectation of strong revenue growth through internal and geographic expansion and acquisitions For more info see tab 2 in the appendix

  21. Conclusion: Investment Drivers • Enhance existing and new educational offerings and profitability through synchronous and asynchronous distance learning • Valuable IBS and Interboro content plus other educational offerings available from EVCI • Excellent balance sheet after restructuring • Attractive cash flow characteristics • Skilled management team with ability to implement profitable business strategies For more info see tab 2 in the appendix

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