Australia’s St.George Bank Selects Click2learn To Expand Corporate E-Learning Programs For More Than 7,700 Employees

May 21, 2002

BELLEVUE, WA (May 21, 2002): St.George Bank, one of Australia’s top five banking institutions, has chosen Click2learn’s Aspen Enterprise Learning Platformä to expand its corporate e-learning programs. Click2learn Asia Pacific, headquartered in Sydney, Australia, will oversee the implementation, as well provide product support and consulting services to St.George.

“St.George Bank has committed to e-learning as the platform for its corporate development program,” said Colin Pitt, general manager, corporate performance at St.George Bank. “Aspen enhances our ability to deliver consistent, high-quality learning to our people in a way that adds real value to business results. We now have the ability to manage learning performance, track and manage competencies, and tailor learning to individual learning styles. We can also empower staff to manage their own development. All of these benefits will ensure the long-term success of our e-learning program and the continued development of our greatest asset: our human capital.”

Click2learn Asia Pacific recently installed the Aspen Learning Management Server (LMS) to upgrade and enhance St. George’s existing e-learning system. Click2learn now will add the Aspen Content Development Server (CDS) and Learning Experience Server (LXS) for an even more robust e-learning solution. Click2learn also will provide consulting on deployment and implementation of the Bank’s e-learning strategy across the organization.

“St.George will be able to customize learning streams for individual business units within the bank and update content in-house,” said Grant Smuts, vice president Click2learn, Asia Pacific. “Content partners will also be able to use Aspen’s content development and management tools. St.George’s 7,700 employees will benefit from access to a much richer learning experience.”

According to Smuts, St.George’s choice of the integrated Aspen e-learning platform will provide all the functionality the bank needs to effectively and efficiently develop, capture, transfer and manage knowledge across the enterprise.

“Aspen provides St.George with a framework for meeting compliance requirements now and in the future. Additionally, the bank will enjoy productivity improvements through savings in the administration, delivery and infrastructure costs associated with training,” said Smuts.

Using Aspen, St.George will now be able to offer blended learning at all levels of the organization. The corporate performance area will be able to shift its focus from operational issues in the delivery of training to the development of learning programs that link directly to business strategies.

“While St.George is already well-advanced with its online management programs, the expanded e-learning platform will allow us to deliver an even more innovative management development program with blended learning,” said Pitt.

E-learning delivers an important strategic advantage for St.George, in that training programs will be up-to-date with changes across the entire organization.

“Our products and services are being continuously updated and enhanced. Frontline staff needs to be fully versed in all our products and services at all times,” said Pitt. “We now have the tools we need to quickly and effectively disseminate product knowledge to all staff throughout the organization or in specialized areas. E-learning helps us provide the best possible service to our customers.”

The Aspen Enterprise Learning Platform is designed to facilitate the capture, management and dissemination of corporate knowledge to improve productivity and business performance. Aspen has an open architecture and is made up of modular, but independent, components that are designed to work as an integrated system.

About St.George

St.George Bank Limited, Australia’s fifth-largest bank, has a unique place in the Australian financial services market. At the Bank’s core is a close relationship with its customers and this remains the cornerstone of future strategies, an important tradition that distinguishes St.George from other large Australian banks. Founded in 1937 as a housing-based financial institution, St.George built a reputation as Australia’s foremost building society, before achieving full banking status in July 1992. St.George expanded its services to commercial customers in 1994 when it acquired the Commercial Banking Division of Barclays. This move made St.George a full-service bank.

On January 1997, St.George acquired all the issued ordinary share capital of Advance Bank. The merger with Advance substantially added to the St.George customer base and reinforced the Bank’s financial strength, the scale of operational efficiencies and the breadth of services and skills. Advance had acquired BankSA in 1995, the leading bank in the South Australian market.

In January 1998, St.George purchased SEALCORP, a leader in the provision of personal savings and investment products. This was followed in August 1999 by the acquisition of KPMG Financial Services Pty. Limited. In May 2000, St.George acquired the Scottish Pacific Business Finance Group, a provider of cashflow finance solutions to Australian small and medium sized enterprises. Both of these acquisitions further expanded St.George’s financial services presence.

About Click2learn

Click2learn (NASDAQ: CLKS) ) is a provider of enterprise software for Global 2000 organizations seeking to capture, manage and disseminate knowledge throughout their extended enterprise. Using Click2learn’s Aspen Enterprise Learning Platform, organizations can deploy highly interactive, personalized learning initiatives to achieve strategic business objectives. Many of the world’s best-known corporations use Click2learn’s technology to improve workforce performance, educate customers, and publish large volumes of learning content. Click2learn’s clients include Accenture, Albertsons, American Airlines, AstraZeneca, Century 21, Fidelity Investments, Fujitsu, Microsoft, Pfizer, Symantec, and Towers Perrin. Based in Bellevue, Wash., Click2learn [, 800.448.6543] operates offices in the United States, Europe, Australia and Japan.

This announcement contains forward-looking statements that involve risks and uncertainties, including information contained in this document where statements are preceded by, followed by or include the words “believes,” “plans,” “intends,” “expects,” “anticipates” or similar expressions. For such statements, The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include, market acceptance of Click2learn’s e-learning solutions and competing e-learning offerings, the ability to successfully implement Click2learn’s solutions and increase revenues, the ability to successfully address technological developments and standards and the risk factors set forth in filings the Company has made with the SEC.

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