Press Releases & Coverage

SkillSoft Appoints Ernst & Young as Auditors

NASHUA, N.H., Jun 26, 2002 /PRNewswire-FirstCall via COMTEX/ -- SkillSoft Corporation (Nasdaq: SKIL), a leading provider of e-learning courseware and ReferenceWare for business and IT professionals, today announced that its Board of Directors has appointed Ernst & Young LLP as the company's independent accountants, replacing Arthur Andersen LLP.

The decision to change auditors was not the result of any disagreement between SkillSoft and Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure. Arthur Andersen has provided excellent services as independent accountants to SkillSoft since the company's inception, and SkillSoft has valued its relationship with the firm. The decision to change accountants was the result of Arthur Andersen's recent legal difficulties and the resultant personnel departures and Arthur Andersen's decision to discontinue its auditing practice by August 31, 2002.

About SkillSoft

With more than 500 corporate customers and two million user seats, SkillSoft is a leading provider of comprehensive, integrated e-learning solutions for Global 2000 companies and government organizations. Customers receive comprehensive learning and performance support solutions for their workforce through SkillSoft's business skills library, comprised of more than 1,200 courses and simulations for global business markets, of which more than 600 are in U.S. English. The library, which includes more than 3,000 hours of interactive instruction, encompasses a wide array of business skills, such as management, leadership, communication, project management and customer service, as well as business subjects such as e-commerce, finance, marketing, sales, and strategy. The library also includes more than 12,000 learning objects, 2,500 job aids, 3,000 SkillBriefs.

SkillSoft complements SkillSoft courses with SkillSimulations, Web-based simulations designed to reinforce skills newly acquired through specific courses. SkillSoft courses can be managed and tracked through SkillPort, an e-learning management platform that offers rapid implementation at a cost-efficient price point, or through third-party learning management systems.

SkillSoft's subsidiary, Books 24x7, offers subscription clients detailed online searches to more than 1,900 unabridged IT and business titles and 300,000 knowledge objects. Books24x7's patent-pending technology platform gives users the ability to perform multi-tier searches of the company's ReferenceWare lines: ITPro, BusinessPro and OfficeEssentials. The Books 24x7 Referencware libraries include offerings from more than 65 publishers, including AMACOM, ASTD, Harvard Business School Publishing, McGraw-Hill, Microsoft Press, and Sybex and Wiley.

For more information call SkillSoft at (603) 324-3000

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 Books247x.com, Inc. All brand names, trademarks, or registered trademarks are the property of their respective holders.

Safe harbor language: This release includes information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include competitive pressures, changes in customer demands or industry standards, adverse economic conditions, loss of key personnel, litigation and other matters disclosed under the heading "Future Operating Results" in the Company's most recent Report on Form 10-Q filed with the Securities and Exchange Commission. The forward-looking information provided by the Company in this press release represents the Company's estimates as of February 2002. We anticipate that subsequent events and developments will cause the Company's estimates to change. However, while the Company may elect to update this forward-looking financial information at some point in the future, the Company specifically disclaims any obligation to do so. This forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this release.