CAEL and ACT Form New Tuition Benefits Management Company

EDLINK now the largest provider in this market

September 4, 2009

CHICAGO – CAEL (the Council for Adult and Experiential Learning) and ACT have jointly created a new company, EdLink LLC, on September 2, 2009. EdLink is the nation's largest provider of tuition assistance management services, expanding upon the services previously offered by CAEL. John Zappa, formerly CAEL's senior vice president for learner services, has been named as EdLink's CEO.

"EdLink is building on the combined strength of ACT and CAEL," explained Zappa. "CAEL brings 22 years of knowledge and experience in the management of tuition assistance programs and its impressive list of corporate clients. ACT brings its national reputation, its extensive resources, its complementary services, and its global reach. EdLink is now positioned to assist significantly more clients with best-of-class services and technological support."

"CAEL and ACT have common missions, values, goals and a focus on providing services for the education of adults. We could not have a better partner than ACT to position this tuition management service for growth," stated Pamela Tate, CAEL's president and CEO. "EdLink will continue the CAEL tradition of reducing some of the financial barriers for lifelong learners who want to continue their education."

"ACT's mission is helping people achieve education and workplace success. Employer-provided tuition assistance aligns well with this mission," explained Dick Ferguson, Chairman and CEO of ACT. "CAEL brings unsurpassed operational capital to this venture."

ACT and CAEL each own 50% of the new company. EdLink expects to process $200 million in education funds over the next year and to serve an active population of almost 800,000 employees across the country. The new company is located in Chicago with several satellite locations, including one under development in Coralville, Iowa, not far from ACT's headquarters in Iowa City.

CAEL has administered corporate tuition assistance programs for over 22 years, and most of its employees in the tuition assistance management unit have transferred to the new company, including all of the tuition assistance management unit's senior leadership.

EdLink, headquartered in downtown Chicago, will open operations in Coralville, Iowa this fall. The company expects to initially hire 10 to 20 employees to expand customer service operations. The Iowa City Area Development group, Iowa Department of Economic Development, and the City of Coralville were all involved in persuading the company to locate in Coralville. Iowa Industrial New Jobs Training will be provided by Kirkwood Community College, a long term partner with ACT on several projects over the past several years.