EDUC reports net revenue of $6,005,900 for the quarter ended August 31, 2009, compared to $6,367,500 for the same period last year. Net earnings declined from $323,000 to $225,400 for the same period.

The Publishing Division is experiencing a record year for sales to retail outlets, with July sales the largest single sales month in our history. This trend has continued with another near-record month in September. Net revenues for this division increased $319,700 during the three month period ending August 31, 2009 when compared with the same quarterly period a year ago. We attribute this to a 28% increase in sales to major national accounts and 26% increase for independent retailers and specialized markets.

For the four months, April, May, June and July, the Home Business Division experienced a 25% decline in revenue. In August, we instituted a recruiting blitz resulting in 2,700 new sales consultants which had an immediate impact as August and September sales rebounded to slightly under those for the same months of the previous year. October has had a strong start as well.

                      EDUCATIONAL DEVELOPMENT CORPORATION
                             SELECTED FINANCIAL DATA

                      Three Months Ended         Six Months Ended
                           August 31,                August 31,
                       2009         2008         2009         2008
                       ----         ----         ----         ----

 NET REVENUES      $ 6,005,900  $ 6,367,500  $12,396,500  $13,742,300
                   ===========  ===========  ===========  ===========
 EARNINGS BEFORE
  INCOME TAXES     $   359,200  $   520,600  $ 1,025,200  $ 1,288,600
 INCOME TAXES          133,800      197,600      384,400      485,900
                   -----------  -----------  -----------  -----------
 NET EARNINGS      $   225,400  $   323,000  $   640,800  $   802,700
                   ===========  ===========  ===========  ===========

 BASIC AND DILUTED
  EARNINGS PER
  SHARE:
  Basic            $      0.06  $      0.08  $      0.17  $      0.21
                   ===========  ===========  ===========  ===========
  Diluted          $      0.06  $      0.08  $      0.17  $      0.21
                   ===========  ===========  ===========  ===========

 WEIGHTED AVERAGE
  SHARES:
  Basic              3,867,023    3,826,869    3,855,435    3,765,812
                   ===========  ===========  ===========  ===========
  Diluted            3,868,155    3,828,075    3,856,507    3,767,045
                   ===========  ===========  ===========  ===========

About Educational Development Corporation

Educational Development Corporation sells children's books, including Usborne Books and the Kane/Miller line of international children's titles through a multi-level sales organization of independent consultants, through 5,000 retail stores and over the Internet. More than 1,500 different titles are available for children of all ages, with periodic new additions.

The Educational Development logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5083

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Educational Development Corporation

CONTACT:  Educational Development Corporation
Randall White
(918) 622-4522

Amaechi, who declared that he has zero tolerance for crime, said, "literature is about telling stories that can change the situations of man," adding that the state government's support for the literary festival is aimed at bringing critics and writers together, while also growing crop of young writers that would take over from old ones.

Amaechi said, "I am planning to insitutionalise this literary festival and make it independent of government. In the nearest future, it should have its board of trustees and other independent sources of funding."

Earlier, John Pepper Clark-Bekederemo lamented the bad governance the country has witnessed, saying, "Nigeria is a Tragedy."

Famous for his book, "All for Oil and Ozidi," the writer lamented that instead of providing services for people, our leaders do otherwise, adding that those who put themselves as public officer's end up playing master to the people and stealing their money.

Speaking on his life as a poet, he said, "all my years as a poet, I refused to be an activist, and rather see myself as a teacher, in another sphere of creativity."

Clark is of the opinion that as Nigerians, we should practice our own art and tell our own stories our own ways. "I have believed that we should practice our art, let politicians and soldiers do their thing."