EduLink Inc. Provides Information on Status of SEC Filing

Business Wire, May 2, 2000

Business Editors

BEVERLY HILLS, Calif.--(BUSINESS WIRE)--May 2, 2000

Founded to provide premier Internet educational services and curriculum programs, EduLink Inc. (OTC BB:MYIQ) Tuesday announced that despite filing a Form 10 Registration Statement with the Securities and Exchange Commission (the "SEC") on March 14, 2000, EduLink Inc.'s common stock will be deleted from the OTC Bulletin Board on May 3, 2000, for failure to become a fully reporting company by May 3, 2000.

The company's common stock will temporarily be traded via the "Pink Sheets" under the symbol "MYIQE" while the SEC concludes its review of the company's filing.

The OTC Bulletin Board adopted rules which require EduLink to be a fully reporting company under the Securities Exchange Act of 1934 no later than May 3, 2000. The company prepared and filed the appropriate form with the SEC as soon as it was able to, March 14, 2000, and is taking all actions within its control to expedite the completion of this process.

However, the Bulletin Board's rules require that the Staff of the SEC confirm that they have no more comments on the company's filing by the compliance deadline.

EduLink has already filed one amendment to its Form 10 addressing the SEC Staff's comments and expects to file another amendment addressing additional SEC Staff comments within the next week. The material in the upcoming amendment further clarifies and explains the products and services that the EduLink Global Smart Schoolhouse is intended to provide.

Michael Rosenfeld, chief executive officer of EduLink, stated: "Edulink is diligently working to become a fully reporting company, and we are making strides toward completing this process. Simultaneous to these efforts the company continues to make substantial progress in the development of educational content, and construction of the Global Smart Schoolhouse infrastructure. We are very pleased with the work of our technology engineers, SAIC and our curriculum design team."

About EduLink

EduLink was founded to create a "total solution" seamlessly integrated dynamic Internet educational service. Utilizing the best quality content and technology providers the company has focused on the research and development necessary to meet local needs and national standards while providing a funding model that makes it affordable and easy to implement in most school districts and homes.

Once completed, the EduLink service, called the EduLink Global Smart Schoolhouse, will deliver to schools and homes via the Internet, a nationally recognized 3rd - 12th grade curriculum with appropriate instructional strategies and student assessment services. Additionally it will support a comprehensive school information management and communication system with individualized standards.

More information about the EduLink vision, including a prototype demonstration of the Global Smart Schoolhouse is available on the Internet at www.Edu-Link.com. Visit the schoolhouse of the future, today!

Statements in this news release looking forward in time are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward- looking statements involve risks and uncertainties, including general economic conditions, delays and risks associated with the negotiation, implementation and/or performance of contracts, consumer and industry acceptance, and regulatory actions and risks.