Learning Tree International Inc. Announces the Public Offering of 2.26 Million Shares

Business Wire, Sept 23, 1996

LOS ANGELES--(BUSINESS WIRE)--Sept. 23, 1996--Learning Tree International Inc. ("Learning Tree" or the "company"; Nasdaq National Market symbol: LTRE) announced Friday that it increased the size of the proposed public offering of its common stock from 2 million shares to 2.26 million shares.

The company also announced that its registration statement filed with the Securities and Exchange Commission in connection with the public offering was declared effective on Sept. 19. The shares were sold at a price of $30 per share. Of the 2.26 million shares offered, 400,000 are being offered by the company, and 1.86 million are being offered by selling stockholders.

In addition, the selling stockholders have granted the underwriters an option to buy up to an additional 339,000 shares to cover over-allotments, if any. The offering is being managed by an underwriting group led by Robertson Stephens & Company LLC, Piper Jaffray Inc., Smith Barney Inc. and M. Kane & Company Inc.

The net proceeds of the offering will be used for working capital and other general corporate purposes. In addition, Learning Tree International Inc. may use a portion of the net proceeds to acquire technologies and related assets or businesses complementary to the company's operations. The company will not receive any of the proceeds from the sale of shares by the selling stockholders.

Learning Tree International Inc. is a leading worldwide provider of education and training to professionals responsible for programming, updating and maintaining the technology used to structure, process and communicate information in business and government organizations. The company develops, markets and delivers a proprietary library of instructor-led course titles focused on client/server systems, Internet/intranet technologies, computer networks, operating systems, databases, programming languages, graphical user interfaces, object-oriented technology and information technology management.

A prospectus relating to these securities may be obtained from Robertson, Stephens & Company LLC, at 555 California St., Suite 2600, San Francisco, California 94104, Attention: Prospectus Department, telephone 415/781-9700; Piper Jaffray Inc., at 1200 Fifth Ave., Seattle, Washington 98101, 206/287-8700; Smith Barney Inc., at 388 Greenwich St., New York, New York 10013, 212/816-6000; or M. Kane & Company Inc., at 10877 Wilshire Blvd., Suite 603, Los Angeles, California 90024, 310/208-1166.

CONTACT: Learning Tree International Inc., Los Angeles

Mary C. Adams, 310/417-9700