Press Releases & Coverage

SkillSoft Continues to Cooperate With Formal SEC Investigation

NASHUA, N.H., Feb 3, 2003 /PRNewswire-FirstCall via COMTEX/ -- SkillSoft PLC (Nasdaq: SKIL), today announced that it is the subject of a formal order of private investigation entered by the Securities and Exchange Commission. On November 19, 2002, SkillSoft announced that it would restate the financial statements of SmartForce PLC for the period 1999 through June 2002. SkillSoft understands that the SEC's investigation concerns SmartForce's financial disclosure and accounting during that period, other related matters, compliance with rules governing reports required to be filed with the Commission, and the conduct of those responsible for such matters. SkillSoft continues to cooperate with the SEC on this matter.

About SkillSoft
SkillSoft is a leading provider of e-learning courseware and referenceware for business and IT professionals. SkillSoft products and services are designed to accelerate the ability of today’s workforce to master the business and technology skills required for competitive success. The company currently has more than 2,800 corporate customers worldwide and more than 4.5 million licensed users.
SkillSoft focuses on meeting the comprehensive business skills and information technology learning needs of professionals in Global 5000 organizations through a comprehensive range of content-focused, e-learning solutions, including:

Business Skills Library: More than 1,600 courseware and simulation titles encompassing professional effectiveness, management/leadership, project management, sales & customer-facing skills, business strategy/operations, finance, human resources, safety/health and financial services industry. Courses feature strong visual design; a focus on instructional objectives at the application and analysis levels; learner interactivity and reinforcement through RolePlays, SkillSimulations, and case studies; and pre- and post-course assessments with prescriptive learning capabilities.


IT Skills and Certification Library: More than 2,800 course titles encompassing software development, operating systems and server technologies, Internet and network technologies, enterprise database systems, web design, and desktop computer skills. The IT library also supports more than 40 certification programs.


ITPro and Business Pro Referenceware: More than 2,500 unabridged IT and business books and reports are available to online subscribers through SkillSoft’s subsidiary, Books24x7. A unique, patent-pending search engine gives subscribers the ability to perform multi-level searches.

SkillSoft customers include organizations such as: First Union, Clarica (Canada), Fluor Corporation, Verizon, U.S. Army, Deloitte Consulting, Raytheon, IBM, Internal Revenue Service, Lockheed Martin, Microsoft, Army National Guard, Dell Computers, Qwest, Department of Transportation, NEC America, British Telecom and Wells Fargo.

SkillSoft, SkillPort, RolePlay, Search-and-Learn, e-Learning for the Knowledge Economy, NetUniversity, and Accelerated Path are trademarks and/or servicemarks of SkillSoft Corporation. Books24x7.com and Referenceware are servicemarks of Books24x7, Inc. All brand names, trademarks, or registered trademarks are the property of their respective holders.

SOURCE SkillSoft PLC


CONTACT:
Tom McDonald
Chief Financial Officer of SkillSoft PLC, 603-324-3000, ext. 4232


Investors
Michael Polyviou or Kirin Smith
FD Morgen-Walke for SkillSoft PLC
212-850-5600