Educational Development Corporation Announces Acquisition of Demibooks, Inc.

Educational Development Corporation ("EDC")

(http://www.edcpub.com) would like to announce we have acquired Demibooks Inc. EDC is the United States publisher of Usborne and Kane Miller books and operates a direct-to-consumer sales division, Usborne Books & More. EDC was an early investor in Demibooks. As part of the acquisition, EDC will continue to operate Demibooks Storytime, a curated marketplace for children's picture book apps. Publishers can create content for Storytime using Demibooks Composer Pro, the premier book app authoring platform on the iPad. Demibooks will discontinue Demibooks Composer Studio and a service to publish apps to the App Store. CEO Rafiq Ahmed and CTO Dan Hotop will consult with EDC during a transition period. Demibooks CEO Rafiq Ahmed said, "It has been a fantastic journey since Demibooks Composer first launched in 2011. We are grateful to everyone who has helped build Demibooks along the way. We pioneered interactive book app authoring on the iPad, and have reached amazing customers in digital publishing, schools and beyond. We have had a close working relationship with EDC since their early investment in us, and are confident the Demibooks brand and digital publishing business will continue to grow within the EDC family." Randall White, President and CEO of EDC, stated: "We are excited for the opportunity to distribute these products through our direct marketing division. We also see potential for licensing the Composer platform to schools and other publishers."