The Harvard Learning Centers, Inc. Update on Stock Dividend
Dear Shareholders,
Boca Raton, FL– February 13, 2007- The Harvard Learning Centers, Inc. (PINKSHEETS : HVLN) (the “Company”) confirms that the Board of Directors authorized the payment of previously announced share dividends no later than April 30, 2007. As many will recall, the Company most recently announced a 1-for-1 stock dividend of the Company's Common Stock, payable to shareholders of record as of December 31, 2006 (the “HVLN Dividend”). The Company had also previously announced dividends in the form of:
This stock dividend is payable to shareholders of the following record dates:
Shares of Eli Enterprises, Inc. (the “ELI Dividend”) to shareholders of record as of June 15, 2006 and;
Shares of Rejuvenation By Robert Palumbo, Inc. (the “RRP Dividend”) to shareholders of record as of July 15, 2006
In order to be considered a shareholder of record for the respective stock dividend payments, you must have purchased the applicable stock at least three days before each respective record date. The Company has already received NASDAQ approval with respect to ELI Dividend and The RRP Dividend. The Company is currently filing notice with NASDAQ with respect to the HVLN Dividend.
We will be sending a press release first thing tomorrow morning specifically with respect to the dividends information set forth above.
As the shareholders are aware, the Company has of late been distracted with a number of issues, including the 15c211 filing process with the NASD. The payment of the dividends remains however a priority. To that end, the Company has recently created the office of Investment Relations; the first task of the newly-appointed Director of Investment Relations is to finalize the payment on the dividends on or before the date mandated by the Board of Directors. The additional duties of the Director of Investment Relations will be to present to the Board and the President potential actions to increase shareholder value. The Director of Investment Relations will also work closely with the Director of Shareholder Relations to keep you abreast of important and/or exciting developments as they occur.
The Director of Shareholder Relations will contact you by the end of the week with details regarding the mechanism for receiving the dividends. You can contact the Director of Investment Relations at
irharvardlearningcenter@adelphia.net
About Harvard Learning Centers, Inc.
The Harvard Learning Centers, Inc. (www.sat-act-prep.com) offers SAT-ACT test preparation that helps high school students succeed. SAT and ACT are standardized tests used by most U.S. colleges and universities for admission and placement decisions and scholarship eligibility. The Harvard Learning Centers, Inc. offers classroom and online courses along with private tutoring.
