OKLAHOMA CITY (June 6, 2002) — John Frick, Partner of Chisholm Private Capital Partners announces that portfolio company Advanced Academics has completed a $7.5 million Series B Preferred Stock financing. New investors were Council Ventures, of Nashville, Chrysalis Ventures, of Louisville, Ky.; and Prosperitas Investment Partners also of Louisville. Previous investors who participated in the financing were Chisholm Private Capital Partners and American Fidelity Group, both of Oklahoma City.

"Advanced Academics is perfectly positioned to be the leader in the online education market," says Frick. "Their reliable technology platform, 24/7 availability of certified teachers and their leadership team who come from strong education backgrounds give them a tremendous advantage in a space that's ready to experience tremendous growth."

Advanced Academics is an online education company targeted at students in grades seven through 12. The model is designed so there is minimal district management required. The Advanced Academics staff of certified teachers handles all aspects of the learning experience including course development, assessment, grading and 24/7 availability for interaction with the student via real-time chats, e-mail and phone calls.

According to Baxter Brings, President and CEO of Advanced Academics, the company also provides custom reporting and time monitoring of student activity that can be viewed online not only by the district, teacher and student, but also by parents and guardians. Advanced Academics also provides all data necessary for accreditation and funding, plus financial and audit records.

"Chisholm Private Capital is a great supporter of Advanced Academics and a tremendous asset to the growing new economy in Oklahoma," says Baxter Brings, President and CEO of Advanced Academics. "We have put a solid management team in place, built a dynamic technology platform to handle large volume of students and we provide unprecedented 24/7 service to our students by certified teachers. This funding will help maintain the momentum we've been building for more than a year."

Since January 2002, Advanced Academics has added eight new states for operation: Alaska, Georgia, Michigan, Montana, New Jersey, Pennsylvania, Texas and Washington. Three recent new contracts include a pilot project with the Detroit Public School District, the Seattle Public School District, and the South Brunswick, NJ Public School District. Brings says additional major contract wins will be announced during the summer.

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To learn more about Chisholm Private Capital Partners, please visit www.chisholmvc.com.