Statement of the bid committee of AcadeMedia AB (publ)

Statement of the bid committee of AcadeMedia AB (publ) in relation to the public offer by Providence Education International AB to all shareholders in AcadeMedia AB (publ)

Background This statement is made by the bid committee (“Bid Committee”) of AcadeMedia AB (publ) (“AcadeMedia” or the “Company”) pursuant to item II.19 of the NASDAQ OMX Stockholm’s rules regarding public offers on the stock market (the “Takeover Rules”). On 6 April 2010, the Bid Committee informed all shareholders and other stakeholders about Providence’s interest in making a public offer to all shareholders in AcadeMedia at a price of SEK 170 in cash per share in AcadeMedia. The information was made public as a consequence of abnormal share price movements in the AcadeMedia shares. Providence confirmed the information in AcadeMedia’s press release by a press release issued on the same day. Providence Education International AB (“Providence Education International”), a newly established Swedish entity controlled by the fund Providence Equity Partners VI International L.P., managed by Providence Equity Partners LLC (“Providence”) has today announced a public offer to the shareholders in AcadeMedia to tender all shares in AcadeMedia to Providence Education International (the “Offer”). Providence Education International offers SEK 170 in cash for each share in AcadeMedia. The Offer constitutes a premium of 3.0 percent compared to the closing price of SEK 165.00 for the AcadeMedia share on 21 April 2010, being the last trading day before announcement of the Offer. Compared to the volume weighted average price of SEK 155.99 during the 30 trading days preceding the announcement of the Offer, the Offer constitutes a premium of 9.0 percent. In addition, the Offer constitutes a premium of 19.5 percent compared to the closing price of SEK 142.25 on 30 March 2010, the day before the abnormal share price movements in the AcadeMedia share, and a premium of 25.4 percent compared to the volume weighted average price of approximately SEK 135.55 during the last 30 trading days up to and including 30 March 2010. The acceptance period for the Offer is expected to commence around 27 April 2010 and to end around 19 May 2010. The Offer is, inter alia, conditional upon the Offer being accepted to the extent that Providence Education International becomes the owner of more than 90 percent of the total number of shares in AcadeMedia. Bure Equity AB (publ), AcadeMedia’s largest shareholder, Bengt Ekberg and his wholly owned company LBS Intressenter AB, together holding shares equivalent to about 17.4 percent of all outstanding shares and votes in AcadeMedia, have unconditionally and irrevocably undertaken to accept the Offer. Due to these undertakings, the board members Patrik Tigerschiöld, Björn Björnsson and Ann-Sofi Lodin, whom are all board members or senior management in Bure Equity AB, and Bengt Ekberg, who also is board member in LBS Intressenter AB, have not participated in the board of directors’ of AcadeMedia handling of issues relating to the Offer, which entails that the board of directors of AcadeMedia is not competent to make decisions regarding issues relating to the Offer. As a consequence hereof, the board of directors of AcadeMedia has decided to appoint a special bid committee to manage bid related matters consisting of the two board members Josef Elias and Helen Fasth Gillstedt. Providence Education International has performed a limited due diligence review of confirmatory nature in relation to the preparation of the Offer and has in connection therewith met with the management of AcadeMedia. Furthermore, AcadeMedia and Providence have entered into a so-called non-solicitation agreement whereby AcadeMedia has undertaken not to actively solicit other potential offerors prior to the expiration of the acceptance period in the Offer. For further details about the Offer, reference is made to Providence Education International’s announcement of the Offer. The recommendation by the Bid Committee The Bid Committee has based its recommendation on the Offer on an assessment of factors which the Bid Committee has deemed relevant in evaluating the Offer. These factors include, but are not limited to, AcadeMedia’s current position; the Company’s expected future development and potential, and opportunities and risks related thereto. The Bid Committee’s assessment is among other things based on a fairness opinion from Öhrlings PricewaterhouseCoopers, Appendix A, to the effect that the Offer is fair from a financial point of view to the shareholders in AcadeMedia (subject to the assumptions and considerations set forth therein). The fairness opinion will be published in the offer document issued by Providence Education International in connection with the Offer. Based on the above, the Bid Committee unanimously recommends the shareholders in AcadeMedia to accept the Offer. Under the Takeover Rules, the Bid Committee is required, on the basis of Providence Education International’s statement in the announcement of the Offer and Providence Education International’s offer document in connection with the Offer, to make public its opinion on the effects that the implementation of the Offer may have on AcadeMedia, especially on employment, and its view on Providence Education International’s strategic plans for AcadeMedia and the effect that these may have on employment and the locations where AcadeMedia carries on its business. Based on the information submitted by Providence Education International in connection with the announcement of the Offer, the Bid Committee assesses that the Offer should not entail any significant changes in the future operations, or overall strategy for AcadeMedia, and neither entail any major changes regarding the employees or any material changes to the employment conditions. Furthermore, and as a consequence hereof, the Bid Committee deems that the Offer should not entail any material effects on the number of employees or the locations where AcadeMedia conducts business. This statement has been announced in both a Swedish and an English language version. In the event of any discrepancy between the language versions, the Swedish language version shall prevail. This statement shall in all respects be governed by and construed in accordance with Swedish law. Any dispute arising out of or in connection with this statement shall be settled exclusively by Swedish courts. Stockholm on 22 April 2010 AcadeMedia AB (publ) Bid Committee

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