Madacy Latino Partners With Scholastic Media To Produce First Maya & Miguel CD; Debut Title - 'Best Friends' – Launches in Stores March 28, 2006

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Madacy Latino, a leader in children’s musical products for the Hispanic and English speaking markets, has partnered with Scholastic Media to produce and market branded music products based on the top-rated Maya & Miguel™ series on PBS Kids Go! Madacy Latino plans to release several English and Spanish Maya & Miguel musical CDs in 2006 as the widely-popular twins leap from the TV screen to music for the first time.

The initial release from Madacy Latino, Maya & Miguel “Best Friends,” is a collection of 14 timeless, toe-tapping tunes that celebrate the wonders of friendship, including such favorites as “Happy Together,” “I’d Like to Teach the World to Sing,” “Imagine,” “We Are the World,” and “You’ve Got a Friend.” Newly recorded by the successful children’s band, The Tweens, “Best Friends” will be available in stores nationwide March 28, 2006 for a suggested retail price of $7.98. “Best Friends” is recommended for ages 4-8 and is approximately 45 minutes. The album will also be available to consumers for download at the popular iTunes online music service.

Maya & Miguel “Best Friends” will be supported by a comprehensive marketing campaign which will include a major national publicity program; custom merchandising materials in English and Spanish; in-store play copies; trade advertising; and cross promotions with other Maya & Miguel licensed products.

“Madacy Latino is very excited to bring into the company the Maya & Miguel brand,” said Federico Teran, Managing Director of Madacy Latino U.S. and South America “We have been working several years now developing bilingual audio and video products for kids so that Latin kids can cherish their roots and their language. Maya & Miguel is the perfect example of a bi-cultural family living in a multi-cultural neighborhood that can help us continue to achieve our goal. We are very lucky to work with Scholastic in this new venture.”

Leslye Schaefer, Senior Vice President of Marketing and Consumer Products, Scholastic Media added, “Fans of Maya & Miguel have really connected with the characters and the series’ message of multi-cultural understanding and friendship. With its line-up of popular tunes, this CD provides children with another fun gateway for entering the world of Maya & Miguel and share these values.”

Future titles in the Maya & Miguel CD series, “Radio Favorites” and “Party Fiesta,” will be released in the in the summer. For more information about Madacy’s Maya & Miguel products please visit http://www.madacy.com, call toll free 1-888-2MADACY.

About Maya & Miguel

Maya & Miguel made a stellar debut in fall 2004, quickly becoming the # 1 new show on PBS KIDS GO! and establishing an immediate and powerful connection with its audience. To date, the Maya & Miguel website at pbskidsgo.org/mayaandmiguel has received over 160 million page views, over 180,000 emails from kids and parents, and almost 400,000 average daily users. Based on an original concept by Scholastic Media President Deborah Forte, the series is designed to present culture and language learning as fun, relevant, and rewarding for all children, with a special emphasis on the Latino population. The goals of the series are: (1) to promote the value of a culturally diverse society; and (2) to support English language learners through the presentation of language in a natural context with a special emphasis on vocabulary. Maya & Miguel is a broad-based Scholastic initiative comprised of television; print media; school and community outreach; dynamic Web sites at pbskidsgo.org/mayaandmiguel as well as scholastic.com; publishing; and a host of ancillary products including apparel and accessories, and DVDs.

About Madacy Latino

Madacy Latino, a division of Madacy Entertainment Group, Inc., is responsible for the creation, distribution and marketing of Spanish-language audio and video products for the US and South America. Madacy is a leading developer, producer and marketer of recorded music products in North America. Madacy is also involved in the distribution of products of other music labels, the licensing of its proprietary recordings and the development and marketing of home video products.

About Scholastic Media

Scholastic Media (SM) is the entertainment and media division of Scholastic Inc., the global children's publishing and media company. A proven leader and innovator in the children's entertainment landscape and award-winning licensor and marketer of children's properties worldwide, SM ranks as one of the foremost producers of quality, family-oriented content for all platforms including television programming, feature films, home entertainment, interactive, and the Internet.

About Scholastic

Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books and a leader in educational technology. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs, school-based book fairs, and school-based and direct-to-home continuity programs; retail stores, schools, libraries and television networks; and the Company's Internet site, http://www.scholastic.com.

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