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Learnscape Corporation
326 1st Street, Suite 38
Annapolis, MD 21403
Ph: (410) 626-9773
Fax: (410) 626-9774

Pierce Quinlan, Chairman & CEO
Gary Almond, Executive VP & Chief Technology Officer

Product Line or Service — LearnScape offers a portfolio of computer-based education and training programs and services in the following categories: 1) Basic Skills in reading, math and work habits; 2) Career skills such as communications and sales skills and telecommunications fundamentals; 3) Workplace and regulatory skills such as safety & health, team building, affirmative action, and ISO 9000 standards; 4) Learning Management through an Internet ready product and 5) Training services including customized software development and the outsourced management of corporate training.

Technology/Proprietary Rights — LearnScape has licensed the Job Skills Education Program from the US Army and is in the process of converting this program into the Windows format and LearnScape is advance marketing the program under the name skillsCOMPASS™. The product will be completed in the Fall of 1998. LearnScape also owns the rights to its Learning Management Product. Other products are licensed for resale from the manufacturers.

Market Opportunities — The computer based training market is growing at a 35% annual rate according to Smith-Barney. Robertson Stephens & Co. estimates the total market will grow to $5B annually by 2001. The National Alliance of Business estimates that over 50% of training will be technology based in 1998. LearnScape is focusing on the corporate and community college markets initially and has developed joint ventures with community colleges.

Marketing/Sales and Distribution — LearnScape markets through direct sales staff to mid and large sized corporations, through distributors to public agencies, schools and prisons, and over the Internet through our joint venture with the CyberChalk Learning Network. The skillsCOMPASS™ product will be marketed heavily to public agencies and welfare to work programs. Presently over $2 million in prospects are being worked by the limited direct sales staff.

Competition — The principal competition is from individual trainers who provide instructor-led training. The corporate competition is from TRO (TUTR) Learning with $35M in sales and the Industrial Training Corporation (ITCC) with sales of $22M. Instructor led training is quickly being replaced with technology based training because of lower cost and better learning retention.

Manufacturing — Not applicable.

Financial — Revenues in 1997 were $100,000, projections for 1998 are $500,000 and $2,561,000 in 1999. In five years, LearnScape will be a $35M Corporation with net margins of nearly 30%.

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