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Kaplan, Inc.'s FTC Acquires U.K. Accountancy Training Company

LONDON, U.K., July 1, 2003 - The Financial Training Company (FTC), a leader in test preparation for accounting and financial service professionals in the U.K. and Asia, today announced that it has agreed to acquire the assets of ATC, Limited, a provider of accountancy and professional training in the U.K. FTC was acquired earlier this year by Kaplan, Inc., an international leader in educational services and professional training based in the U.S.

ATC will become part of FTC, which is headquartered in London with 18 training centers in the U.K. and operations in Hong Kong, Shanghai and Singapore. William Macpherson, CEO of FTC, will run the combined operations.

Founded in 1965, ATC prepares over 6,000 students a year for professional qualifications such as the ICAEW™ (Institute of Chartered Accountants in England and Wales), AAT™ (Association of Accounting Technicians), ACCA® (Association of Chartered Certified Accountants), CIMA™ (Chartered Institute of Management Accountants), ATT™ (Association of Taxation Technicians) and CTA™ (Chartered Institute of Taxation). ATC is also a leading provider of professional and business training to central government departments.

"ATC offers high quality professional training programs," said William Macpherson. "With Kaplan's sophisticated learning technologies and educational assets, our combined resources will enable us to set new standards for clients and students in the U.K. and Asian markets. This further extends our reach in the global accountancy education market."

One of the U.K.'s longest-established financial training companies, FTC prepares over 25,000 students a year for professional exams such as the ACA™, AAT™, ACCA® and CIMA™, as well as tax qualification programs and courses for investment professionals.

About Kaplan, Inc.
Kaplan, Inc. (www.kaplan.com) is a premier provider of educational and career services for individuals, schools and businesses, and is comprised of four divisions: Kaplan Test Prep, which offers test prep and admissions services worldwide, including K12 services for schools; SCORE!, which offers after-school learning programs for kids; Kaplan Professional, which offers licensing and continuing education training and compliance tracking; and Kaplan Higher Education, which offers post-secondary educational certificate and degree programs online and through 47 campus-based schools. Kaplan is a wholly-owned subsidiary of The Washington Post Company (NYSE: WPO).

Press Contacts: 

Melissa Mack
mmack@kaplan.com

Carina Wong
carina_wong@kaplan.com