Learning Tree International, Inc. LTRE (“Learning Tree”) today
announced that the Special Committee of the Board of Directors of Learning
Tree (the “Special Committee”) has retained Sullivan & Cromwell LLP as its
independent legal counsel and is in the process of engaging an independent
financial advisor.
As previously announced on September 19, 2012, Learning Tree's Board of
Directors established the Special Committee comprised of independent directors
to consider, among other things, a non-binding proposal received from David C.
Collins, the Chairman of the Board and Chief Executive Officer of Learning
Tree, and his wife, Mary C. Collins, to acquire all of the outstanding shares
of Learning Tree that they and their affiliates do not already own. In
addition to the proposal received from David and Mary Collins, the Special
Committee has received additional indications of interest regarding an
acquisition of Learning Tree since the announcement of the Collins' proposal.
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