Torstar Corporation Partners With ITI Education Corporation

Posted on May 29, 1998

Torstar Corporation and ITI Education Corporation today announced that Torstar will acquire 3,000,000 common shares of ITI. The transaction, which has been approved by the Boards of Directors of both Torstar and ITI, is expected to close June 12, 1998.

David Galloway, President and Chief Executive Officer of Torstar, said, "We are delighted to have the opportunity to invest in ITI. Management has done an excellent job in developing high quality information technology education programs and we look forward to working with them on expanding the business in the future. The demand for skilled information technology professionals is growing worldwide and we believe ITI is a leader in this market."

Torstar Corporation is a broadly based publishing company. Its operations include The Toronto Star; Metroland Printing, Publishing & Distributing, publishers of community newspapers and distributors of advertising materials; Harlequin Enterprises, publisher of series romance fiction; the Children's Supplementary Educational Publishing Division, which publishes and produces educational products for teachers, parents and children under the Frank Schaffer, Tom Snyder Productions, Delta Education, Brighter Vision and Troll Communications names.

ITI Education Corporation, through ITI Information Technology Institute, is Canada's leading postgraduate information technology education institution. Founded in 1984, ITI Information Technology Institute has grown steadily to become Canada's largest single source of new IT graduates.