PRESS RELEASE March 14, 2001

Apple to Acquire PowerSchool

CUPERTINO, California-March 14, 2001-Apple® today announced plans to acquire privately-held PowerSchool Inc., the leading provider of web-based student information systems for K-12 schools and school districts. PowerSchool gives school administrators and teachers the ability to easily and cost-effectively manage student records and gives parents real-time access to track their children's progress. The PowerSchool student information system has been selected by 2,000 schools nationwide.
“Apple has a legacy of helping teachers teach and students learn. We are nowexpanding that mission to include helping schools run more effectively,”said Steve Jobs, Apple's CEO. “By acquiring PowerSchool and welcoming itstalented employees to Apple, we instantly become the leading provider ofweb-based student information systems nationwide.”
Apple will acquire PowerSchool for $62 million in Apple stock. PowerSchool,located in Folsom, California currently has 160 employees. The closing issubject to regulatory approvals, approval of PowerSchool shareholders, andother customary conditions to closing.
Apple ignited the personal computer revolution in the 1970s with the AppleII and reinvented the personal computer in the 1980s with the Macintosh.Apple is committed to bringing the best personal computing experience tostudents, educators, creative professionals and consumers around the worldthrough its innovative hardware, software and Internet offerings.
This press release contains certain “forward-looking” statements within themeaning of the Private Securities Litigation Reform Act of 1995. Thesestatements are based on management's current expectations and are subject touncertainty and changes in circumstances. Actual results may varymaterially from the expectations contained herein. The forward-lookingstatements contained herein include statements about the consummation of thetransaction with PowerSchool and benefits of the pending transaction withPowerSchool. Factors that could cause actual results to differ materiallyfrom those described herein include the inability to obtain regulatoryapprovals and the inability to successfully integrate the PowerSchoolbusiness. Apple Computer is under no obligation to (and expressly disclaimsany such obligation to) update or alter its forward-looking statements,whether as a result of new information, future events or otherwise.
Press Contacts:
Lynn Fox
Apple
(408) 974-6209
lfox@apple.com
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