School Specialty (Nasdaq: SCHS) Announces Completion of Debt Refinancing

Shawshank, VA 5/23/12 (StreetBeat) -- School Specialty (Nasdaq:SCHS), a leading K-12 education company with the broadest array of products in the market, today announced that it has refinanced its existing credit facility with two new separate agreements. The new multi-year agreements consist of a secured $200 million asset-based credit agreement with a group co-led by affiliates of Wells Fargo & Company and GE Capital, and a separate secured $70 million credit agreement with an affiliate of Bayside Capital, Inc. The new agreements replace the credit agreement dated April 23, 2010, and last amended on July 1, 2011, which had outstanding borrowings of $130 million as of May 18, 2012.

"We are pleased to announce the refinancing of our credit agreement," said President and CEO Michael P. Lavelle. "The new asset-based credit agreement and term loan provides us with a more appropriate borrowing structure for our business. With this important step in our planning behind us, we are poised to further focus our business and accelerate our transformational activities to drive long term growth and enhance value to our customers and investors."

Additional details regarding the Company's new credit agreements will be set forth in its Current Report on Form 8-K, to be filed with the Securities and Exchange Commission.

About School Specialty, Inc.

School Specialty is a leading education company that provides innovative and proprietary products, programs and services to help educators engage and inspire students of all ages and abilities to learn. The company designs, develops, and provides preK-12 educators with the latest and very best curriculum, supplemental learning resources, and school supplies. Working in collaboration with educators, School Specialty reaches beyond the scope of textbooks to help teachers, guidance counselors and school administrators ensure that every student reaches his or her full potential.

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School Specialty (Nasdaq: SCHS) Introduces Expanded Classroom Technology Solutions at FETC

Palm Beach, FL 1/20/12 (StreetBeat) -- School Specialty, Inc. (Nasdaq: SCHS) today announced its 2012 expanded offering of classroom technology solutions. Meeting customers' continuously evolving technology needs, this comprehensive product assortment offers tools necessary to prepare students with 21st Century learning skills and augment traditional educational methods.

"Expanding classroom sizes, evolving standards requirements and differentiation in meeting instructional needs makes teaching more challenging every day. Our new array of technology products is focused on how best to meet the needs of our customers in enhancing their productivity and effectiveness," said Shantanu Bose, Vice President of School Supplies and Classroom Technology.

Offering innovative and effective products for all educational subject matters and needs, School Specialty's comprehensive selection comprises many features at multiple price points. The new lineup includes the latest document cameras, short throw digital projectors, interactive white boards, listening centers, student response systems, slates and pads. In combination with classroom furniture, technology accessories, interactive software tools for all subject areas and grade levels, and professional development offers, School Specialty is the only educational resource company offering educators a total classroom solution from one source.

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