Acadient Acquires Assets of the Willett Institute of Finance: Leading Trainer of More Than 80,000 Securities Professionals to Move Online

BOSTON, March 3 - Acadient, a leading developer and distributor of online education for the financial services industry, today announced it acquired certain assets of Boston-based Willett Institute of Finance, one of the country's oldest and most prestigious training organizations for the securities industry. The amount and terms of the acquisition were not disclosed.

Founded in 1969, the Willett Institute of Finance has trained more than 80,000 professionals in a variety of securities licensing areas. The Willett Institute coursework, which to date has only been available in the classroom, will now be available online via Acadient at www.acadient.com and through its global education partners.

Already a leader in providing training for Certified Financial Planners® and the mutual fund industry, this transaction dramatically expands Acadient as the largest repository of financial education content in the sector. It also announces the company's entry into the securities training and licensing arena.

"This acquisition is a milestone for the growth of Acadient because it moves the company into a new line of business with one of the oldest, most trusted names in the licensing field," said Ronald C. Pruett, Jr., chief executive officer, Acadient. "We're delighted by the opportunity to move the Willett Institute online so now thousands more can be trained around the world. The challenging securities regulatory climate demands more of its professionals and Willett rose above the rest in our search for the right partner."

"Since 1969, the name Willett has stood for excellence in licensing training and our thousands of graduates demonstrate our rich heritage," said Paul Langone, president of the Willett Institute. "As the industry has changed and globalized, we recognized the opportunity to work with Acadient as the natural next step in our evolution."

Langone will serve as an advisor to Acadient and oversee the development of the Willett Institute online programs. He will also continue to offer live classroom training.

The online learning industry is growing exponentially. According to research from ThinkEquity Partners, the number of corporate universities skyrocketed from 400 in 1988 to more than 2,000 today with more than 40 percent of these being Fortune 500 companies. Specifically, the National Association of Securities Dealers, reports that annually nearly 600,000 U.S. broker/dealers participated in NASD exam testing and continuing education sessions.

Pruett adds, "Financial services companies are emphasizing the need for superbly trained staff as heightened regulation and the growth of the global economy continue to impact the industry. With our content, Acadient is the nucleus of e-Learning and provides these companies the best and most convenient courses available."

Over the years, the Willett Institute has offered a wide variety of licensing products and services particularly in the area of licensing test preparation. The first coursework to be available online includes The Securities Industry Study Course (for those seeking to qualify for the NASD/NYSE Series 7 Registered Representative Examination), Limited Registered Representative: Investment Companies/Variable Annuities (For the NASD Series 6 Examination), and the State Law Examination Study Guide (Series 63).

About Acadient

Based in Boston, Acadient is the nation's leading developer and distributor of online education and training for corporations, associations and consumers in the financial services industry. With the largest repository of financial education content in the sector, Acadient develops, hosts, and manages e-learning courseware and private-label online universities for industry organizations worldwide. Approved by the National Association of State Boards of Accountancy (NASBA) as a continuing education provider, Acadient partners with premier industry and academic organizations including the National Investment Company Service Association (NICSA), Society of Professional Administrators and Record Keepers (SPARK), Pearson Education, Mutual Fund Education Alliance (MFEA), SABA, Keir Educational Resources, AdvisorCentral, The National Underwriter Company and Boston University.

Acadient is a corporate member of the American Society for Training and Development (ASTD), The Sloan Consortium, and the Massachusetts Interactive Media Council (MIMC). Please visit www.acadient.com for more information.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER(TM) and federally registered CFP (with flame logo), which it awards to individuals who successfully complete initial and ongoing certification requirements.