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Mission Statement

Mission Statement. Kaplan helps individuals achieve their educational and career goals.  We build futures one success story at a time. Higher Education. Supplemental Education. Kaplan Year-to-Date Results 2005 (6 months). Kaplan Year-to-Date Results 2005 (6 months).

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Mission Statement

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  1. Mission Statement Kaplan helps individuals achieve theireducational and career goals.  We build futures one success story at a time.

  2. Higher Education Supplemental Education

  3. Kaplan Year-to-Date Results 2005(6 months)

  4. Kaplan Year-to-Date Results 2005(6 months) *Other includes charges accrued for stock-based incentive compensation and amortization of certain intangibles.

  5. Kaplan Revenue 2000-2004 ($ in millions)

  6. Revenue by Business Unit 2002 2004 $621M $1,135M

  7. Areas of Kaplan’s Growth Since 2002 • Acquired 27 businesses for $365M • Expanded international presence • Nearly doubled number of higher education campuses • Grew online operations

  8. Drivers of Growth in Education Market

  9. “Knowledge Economy” By contrast, in 1998… In 1973… 10% 16% 30% 32% 12% 33% 9% 40% 18% Bachelor’s or advanced degree Associate’s degree Some college Finished high school and stopped there Workers that had not completed high school Source: Anthony P. Carnevale, Donna M. Desrochers, Richard A. Fry, & Stephen R. Rose, Educational Testing Service Office of Public Leadership: “ETS analysis of Current Population Survey (March 1994 & 1999),” 2001

  10. No Child Left Behind Increased spending on assessments and remediation Market size ($ in millions) Source: Eduventures, “Testing in Flux: Future Directions in the Pre-K-12 Assessment Market,” 2004; Eduventures, “K-12 Solutions Learning Markets & Opportunities 2004,” 2004

  11. Competition for University Admissions Projected number of U.S. high school graduates 2005-2009 Number of students (in millions) Source: National Center for Education Statistics, “Projections of Education Statistics to 2013,” 2003

  12. International Student Growth Global demand for international higher education Number of students (in millions) Source: IDP Education Australia, “Global Student Mobility 2025,” 2002

  13. Acceptance of Online Learning Students enrolled in 100% online education Number of students (in millions) Source: Eduventures, “Online Distance Education Market Update 2005,” 2005

  14. Units of Kaplan

  15. Kaplan Test Prep and Admissions • 159 centers, 280,000 students • K12     • Pre-College • Graduate • Medical • English Language

  16. KTPA Highlights • Increased revenue 25% from 2002 to 2004 • In 2004, grew revenue at nearly twice the rate of The Princeton Review • Expanded international presence with Kidum acquisition • Launched programs for new UK postsecondary exams

  17. K12 Learning Services • Seven of nation’s ten largest school districts since 2002 • Curriculum development and support • Teacher training • After-school instruction

  18. K12 Highlights • Increased revenue 125% from 2002 to 2004 • Helped New York’s Region 5 achieve city’s greatest math and reading improvements • Developed new curriculum for high schools in Philadelphia and Camden, NJ • Created after-school program for Los Angeles public schools

  19. KTPA Challenges • Growth of local competitors focused on single products • Declining numbers of test-takers for some graduate admissions exams • Scaling up to meet growing demand for K12 services in response to NCLB

  20. Kaplan Professional • 51 locations, 500,000 courses sold in 2004 • Financial services • Real estate • IT • Publishing

  21. KP Highlights • Increased revenue 35% from 2002 to 2004 • Acquired 12 companies since 2002 • Achieved solid growth in real estate and publishing • Diversified into new professional market segments

  22. KP Challenges • Sustainable growth in highly cyclical markets • Integration of acquisitions • Maximizing return on technology investments

  23. Financial ServicesTraining and Compliance • Modest growth in insurance and securities education • Industry shift from education to compliance services • No providers successfully serving both segments • Acquisition of BISYS Education and eMind • Consolidation enables Kaplan to become “one-stop-shop”

  24. SCORE! • 167 centers, 82,000 students • Computer-based programs and personal tutoring • Positive reinforcement and feedback • Enrichment and remediation

  25. SCORE! Highlights • Increased revenue 15% from 2002 to 2004 • Opened 25 new centers since 2002 • Doubled number of students in last five years • Expanded early learning services through Headsprout partnership

  26. SCORE! Challenges • Reinventing curriculum and establishing internet delivery • Staffing strategy reliant on recent college graduates • Center redesign and technology upgrade

  27. Kaplan Higher EducationCampus-based • 76 campuses, 32,000 students • Market-driven education • Career-focused programs in allied health, business, legal, IT • Certificate, associate’s and bachelor’s programs

  28. KHE – Campus Highlights • Increased revenue 83% from 2002 to 2004 • Since 2002: • Acquired or opened 30 campuses • Added 11,400 students • Introduced 125 new programs

  29. KHE – Campus Challenges • Reduction in unemployment rates • Increased competition • Industry players under increased scrutiny • Rapid growth challenges management capacities

  30. Kaplan University • 19,000 students online • Career-oriented programs for working adults • Extensive support network for students • Major economic force in South Florida KU Ft. Lauderdale

  31. KU Highlights • More than tripled revenue from 2002 to 2004 • Doubled enrollment each year since 2002 • Added 10 degree programs since 2002 • Achieved university status with introduction of master’s degree programs KU Ft. Lauderdale

  32. KU Challenges • Higher Education Act reauthorization • Higher cost per lead • Student retention in online environment • Faculty and administrator recruitment KU Ft. Lauderdale

  33. Concord Law School • 1,600 students • World’s first fully online law school • Among largest law schools in the U.S. • More than half of students already have advanced degrees

  34. Concord Law School “The process inevitably loses somethingvital when students learn in isolation.” Justice Ginsburgdiscussing Concord Law School in remarksat Rutgers Law SchoolSeptember 9, 1999 Source: Legal Times

  35. Concord Law School Justice Scaliaparticipated in anonline chat with Concord studentson June 25, 2004

  36. KHE Management • Kaplan President Andy Rosen to oversee both domestic higher education businesses • New management structure to: • Combine expertise of campus and online leadership • Increase collaboration on lead sharing, curriculum, hybrid programs • Provide strong platform for long-term growth

  37. Kaplan International • 29 locations, 46,600 students • Financial Training Company (UK, Asia) • Dublin Business School (Ireland) • Asia Pacific Management Institute (Singapore, Hong Kong) • Kaplan International Colleges (UK)

  38. KI Highlights • Increased FTC revenue 32% in first full year of ownership (2004) • Through first six months 2005, FTC achieved equal market share with BPP • Expanded higher education presence in UK and Asia • Created partnerships with UK universities to serve international students

  39. KI Challenges • Potential tightening of visa policies • New management at several businesses • Maintaining relationships with university partners • Limited experience in international markets

  40. Evolving the Kaplan Brand

  41. The Kaplan Brand • Kaplan still struggles to overcome perception as test prep company • Multiple brand identities confuse customers • Recognition as a global education provider requires unifying the Kaplan brand

  42. Kaplan Today

  43. New Corporate Identity

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