GARY HYMOWITZ JOINS SCHOLASTIC MEDIA AS VICE PRESIDENT OF CONSUMER PRODUCTS



Industry Veteran To Lead Licensing And Retail Initiatives For Leading Entertainment Company

New York, NY (January 12, 2006) -- Scholastic Media, a division of Scholastic, the global children’s publishing, education and media company, announced today the appointment of Gary Hymowitz as Vice President of Consumer Products. In this role, Mr. Hymowitz will oversee the strategic development, direction and implementation of all consumer products based on the Company’s premiere entertainment properties, including Clifford The Big Red Dog®, Clifford’s Puppy Days™, The Magic School Bus®, I SPY, His Dark Materials, Maya & Miguel™, Goosebumps®, Counting in the Garden, as well as the Scholastic Brand line of products.  He will also be responsible for creating innovative and strategic licensing campaigns targeting Scholastic's retail and licensing constituents. Mr. Hymowitz will report to Leslye Schaefer, Senior Vice President, Marketing and Consumer Products.
 
“This is a very exciting time for Scholastic Media as we broaden our reach into a variety of new frontiers,” said Leslye Schaefer.  “Gary brings outstanding experience that will help grow our existing consumer products program in a direction that will continue to raise the bar for the Company.  His breadth of knowledge and wealth of contacts within the industry are invaluable, and we look forward to starting the new year with his fresh vision.”
 
Hymowitz brings close to 25 years of experience in licensing and marketing to Scholastic Media. Most recently, he worked as the Vice President of Licensing and Marketing for SG Footwear, Inc., where he managed a portfolio of more than 28 character and brand licenses totaling more than $60 million in revenue.  Prior to his stint at SG Footwear, Hymowitz served as the Head of Worldwide Licensing for Classic Media.  Additionally, he served in different licensing roles for leading entertainment and interactive companies, such as Golden Books Family Entertainment, Interplay Productions, the Samuel Goldwyn Company, Lucasfilm Ltd. and United Media.  
 
About Scholastic Media
Scholastic Media (SM) is the entertainment and media division of Scholastic Inc., the global children's publishing and media company. A proven leader and innovator in the children's entertainment landscape and award-winning licensor and marketer of children's properties worldwide, SM ranks as one of the foremost producers of quality, family-oriented content for all platforms including television programming, feature films, home entertainment, interactive, and the Internet.
 
About Scholastic
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.

Contacts:
BENDER/HELPER IMPACT
Brian Reinert
212.689.6360