Scholastic Corporation (SCHL) to Ring the NASDAQ Stock Market Opening Bell

MEDIA ADVISORY, Sept. 14, 2006 (PRIMEZONE) --

What: Mary Winston, Chief Financial Officer for Scholastic, the global children's publishing, education and media company, will preside over the opening bell to celebrate the 20th Anniversary of The Magic School Bus(r), the most successful science book series and franchise for children. Winston will be joined by Magic School Bus author Joanne Cole, illustrator Bruce Degen, as well as everyone's favorite classroom teacher who loves science Ms. Frizzle. The Magic School Bus book series has been enchanting and educating children around the globe since 1986, with 131 titles and more than 58 million books in print. The award-winning series is also a groundbreaking science franchise with a successful animated television show on TLC's Ready Set Learn! programming block and the network's digital channel, Discovery Kids, as well as the "Kicks Up a Storm" bi-lingual, weather-themed travelling museum exhibit which is currently touring children's museums through 2008. To mark the 20th anniversary, Scholastic has recently published and released a brand new book title, The Magic School Bus and the Science Fair Expedition. Where: NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio When: Friday September 15th, 2006 at 9:30 a.m. EDT Contacts: Sara Sinek SSinek@Scholastic.com NASDAQ MarketSite: Stephanie Lowenthal; 646.441.5220

Feed Information:

The opening bell is available from 9:20 a.m. to 9:35 a.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Stephanie Lowenthal at (646) 441-5220.

Photos:

To obtain a hi-resolution photograph of the Market Open, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice.

About Scholastic Corporation (SCHL)

Scholastic Corporation (Nasdaq:SCHL) is the world's largest publisher and distributor of children's books and a leader in educational technology. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs, school-based book fairs, and school-based and direct-to-home continuity programs; retail stores, schools, libraries and television networks; and the Company's Internet site, www.scholastic.com.

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