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SkillSoft Releases 21 Business Skills Courses Localized for Japanese Market

Partnership with Recruit, Japan's Largest Information Publisher, Designed to Bring Business Skills e-Learning to Japanese Business Market

NASHUA, N.H., Dec 3, 2001 /PRNewswire via COMTEX/ -- SkillSoft Corp. (Nasdaq: SKIL), a leading provider of critical business skills courseware for e-learning solutions, today announced the release of 21 business skills courses localized for the Japanese market. The ongoing localization initiative is the result of SkillSoft's strategic partnership agreement with Recruit, a $3 billion information publishing and HR services company headquartered in Tokyo. Under the agreement, Recruit has distribution rights to all SkillSoft courses and other products in Japan.

Localizing courses for use by Japanese corporations involves language translation, incorporation of appropriate imagery, and the inclusion of examples and scenarios relevant to the Japanese business market. Localization work is shared by Recruit, which handles all development work, and SkillSoft, which provides the development tools, methodology, and quality assurance. Plans call for a substantial number of SkillSoft's 1,000-plus courses to be localized for the Japanese market over the next calendar year.

"We view the introduction of e-learning to the Japanese business market as a huge opportunity for Recruit," said Hiroshi Tsuchiya, executive manager of Recruit's e-Learning Group. "We spent several years evaluating companies in search of the right partner. We chose SkillSoft because of the unmatched breadth and depth of its business skills course library and the company's overall success in the market."

Tsuchiya, who compares the current Japanese e-learning market to the U.S. market in the late 1990s, sees rapid adoption by Japanese business. Tsuchiya cites speed to market and portfolio breadth as key factors in making significant impact on the budding market. To meet training needs specific to Japanese business, Recruit will also develop its own courses to supplement those available through SkillSoft.

One of the largest in the industry, the SkillSoft library encompasses a wide array of business skills, such as management, leadership, communication, project management and customer service, as well as business subjects such as e-commerce, finance, marketing, sales, and strategy. SkillSoft courses were among the first to be designed purely for web-based delivery. Incorporation of learning object architecture and job aids into each course gives learners the ability to search and find the specific information required for "just-in- time" job performance support. SkillSoft's library currently contains more than 12,000 learning objects -- self-contained sections of information about specific topics requiring about five- to ten-minutes of learner time -- and 2,500 job aids such as checklists, outlines, and samples.

"We are very proud to be associated with Recruit. We have been impressed by the quality and focus of the localization work done thus far. The business model that has brought Recruit success in the areas of information publishing and HR development positions them well for e-learning," said Chuck Moran, president and CEO of SkillSoft.

About Recruit

Established in 1960, Recruit provides a wide range of services related to human resources and intermediary marketing. The company publishes several major employment information magazines, and offers training, career development, placement, and personnel-related consulting services. Recruit also matches consumer and business users with the products they seek through almost 100 information magazines, as well as web sites, direct mailing, seminars, and other activities. Headquartered in Tokyo, Recruit has more than 4,000 employees. For more information, go to www.recruit.co.jp.

About SkillSoft

With more than two million user seats, SkillSoft is a leading provider of e-Learning solutions for Global 2000 companies. Customers receive comprehensive learning and performance support solutions for their workforce through the SkillSoft library, comprised of 1,000 courses for global business markets, of which over 550 are in U.S. English. The SkillSoft library, which also includes more than 12,000 learning objects and 2,500 job aids, encompasses a wide array of business skills, such as management, leadership, communication, project management and customer service, as well as business subjects such as e-commerce, finance, marketing, sales, and strategy. SkillSoft complements its course library with SkillPort, an e-learning management platform that offers rapid implementation at a cost-efficient price point. SkillSoft recently introduced SkillSimulations, Web-based simulations designed to reinforce skills newly acquired through SkillSoft courses. For more information, visit www.skillsoft.com.

SkillSoft, SkillPort, RolePlay, Search-and-Learn, and SkillSimulation are trademarks of SkillSoft Corp. All brand names, trademarks, or registered trademarks are the property of their respective holders.

Safe harbor language: This release includes information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward- looking statements. Factors that could cause or contribute to such differences include competitive pressures, changes in customer demands or industry standards, adverse economic conditions, loss of key personnel, litigation and other matters disclosed under the heading "Future Operating Results" in the Company's most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. The forward-looking information provided by the Company in this press release represents the Company's estimates as of December 03, 2001. We anticipate that subsequent events and developments will cause the Company's estimates to change. However, while the Company may elect to update this forward-looking financial information at some point in the future, the Company specifically disclaims any obligation to do so. This forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this release.

SOURCE SkillSoft Corp.

CONTACT: Linda Galloway of Apollo Associates, +1-203-790-1591, or lgalloway@apolloassociates.com; or John Catlin, Managing Director of SkillSoft Asia Pacific, +61 2 9960 0040, or jcatlin@skillsoft.com