Childtime Learning Centers, Inc. Acquires Tutor Time Learning Systems, Inc.

Childtime Learning Centers, Inc. announced that it had successfully completed the acquisition of Tutor Time Learning Systems, Inc. of Boca Raton, Florida. Following the acquisition, Childtime is the nation's second largest publicly traded Child Care provider, employing 7,500 professional staff and providing child care and education for over 50,000 children daily across the United States and Internationally.

"We believe that this acquisition will be a key milestone in our ongoing effort to restructure and rebuild Childtime," stated James Morgan, Chairman of the Board of Childtime. "Going forward, we plan to deliver value to the families we serve, and ultimately to our shareholders, by focusing our efforts on the key drivers of Childtime's and Tutor Time's brand value: delivering quality child care and innovative education at prices that our target customers can afford."

Childtime acquired the assets of Tutor Time for an aggregate purchase price of approximately $22.5 million plus the assumption of certain liabilities. The Tutor Time system consists of 198 company-owned and franchised child care centers operating in 23 states and internationally and has operations and market-position that is a strong complement to those of Childtime.