World's First Private Online University Renames as Lansbridge University

Business Wire, Oct 4, 2000

Business Editors

FREDERICTON, New Brunswick--(BUSINESS WIRE)--Oct. 4, 2000

LEARNSOFT(CDNX:LT)

Unexus University, the world's first private, online, degree-granting university, today announced that it is renaming itself to Lansbridge University.

Lansbridge University, which was founded as Unexus University one year ago, is an Internet-based university delivering flexible, affordable and market-driven management education focused on the fast economy.

The name change from Unexus University to Lansbridge University was prompted by a trademark dispute over the name between U.S.-based UNext.com and Learnsoft Corporation, which owns Unexus University. UNext.com, which owns Cardean University, brought a civil legal action in the U.S. District Court for the District of Massachusetts against Learnsoft Corporation earlier this year. UNext.com said it believed that the Unexus name was too close to UNext.com. The judge decided in Learnsoft's favor in the preliminary hearing, but UNext.com was prepared to continue the action.

"We believed that it was in our shareholders' best interest to invest our money and resources in our own growth, not lawyers, and change the name of our university," said Michael Gaffney, president and CEO of Learnsoft Corporation, which owns and runs Lansbridge University.

"The new name is also an exciting opportunity for change and growth," said Gaffney. "We are eager to step forward with the Lansbridge University name. The university's flexibility, affordability and market-driven content will continue to attract new students."

The Lansbridge name was chosen through an internal contest open to staff and students. The "Lans" in Lansbridge is an acronym for Learning, Advanced, Network and Service - four pillars of Lansbridge University. The concept of a bridge is a metaphor for learning and also symbolizes the bridging together of learners from around world.

Lansbridge University currently offers two degree programs. The first is an Executive Master of Business Administration (eMBA) designed for seasoned professionals who require flexible management education. The second is a regular online Master of Business Administration program designed for professionals who are newer to the working world, and want to build solid and dynamic management skills. Both are designed to deliver education any time, anywhere.

Lansbridge has 70 students from seven different countries, including the United States, Canada, India, Hong Kong, Taiwan, Ireland and Trinidad.

About Lansbridge University

Lansbridge University is the world's first private, Internet-based, degree-granting university. Based in Fredericton, New Brunswick, Lansbridge University is owned and run by Learnsoft Corporation (CDNX: LT), a world leader in designing and delivering Internet-based learning systems and courseware. Lansbridge University was launched as Unexus University in the fall of 1999. Classes for its first program, the Executive Master of Business Administration (eMBA), began on Jan. 17, 2000, and Lansbridge has since teamed up with the Boston-based Arthur D. Little School of Management to offer eMBA students a dual degree. Lansbridge's second degree program is the Master of Business Administration. More information on Lansbridge University is available at www.lansbridge.com.

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