SkillSoft Continues to Cooperate With Formal SEC Investigation

February 3, 2003

On November 19, 2002, SkillSoft announced that it would restate the financial statements of SmartForce PLC for the period 1999 through June 2002. SkillSoft understands that the SEC’s investigation concerns SmartForce’s financial disclosure and accounting during that period, other related matters, compliance with rules governing reports required to be filed with the Commission, and the conduct of those responsible for such matters. SkillSoft continues to cooperate with the SEC on this matter.

About SkillSoft

SkillSoft is a leading provider of e-learning courseware and referenceware for business and IT professionals. SkillSoft products and services are designed to accelerate the ability of today’s workforce to master the business and technology skills required for competitive success. The Company currently has more than 2,800 corporate customers worldwide and more than 4.5 million licensed users.

SkillSoft focuses on meeting the comprehensive business skills and information technology learning needs of professionals in Global 5000 organizations through a comprehensive range of content-focused, e-learning solutions, including:

Business Skills Library: More than 1,600 courseware and simulation titles encompassing professional effectiveness, management/leadership, project management, sales & customer-facing skills, business strategy/operations, finance, human resources, safety/health and financial services industry. Courses feature strong visual design; a focus on instructional objectives at the application and analysis levels; learner interactivity and reinforcement through RolePlays, SkillSimulations, and case studies; and pre- and post-course assessments with prescriptive learning capabilities.

IT Skills and Certification Library: More than 2,800 course titles encompassing software development, operating systems and server technologies, Internet and network technologies, enterprise database systems, web design, and desktop computer skills. The IT library also supports more than 40 certification programs.

ITPro and Business Pro Referenceware: More than 2,500 unabridged IT and business books and reports are available to online subscribers through SkillSoft’s subsidiary, Books24x7. A unique, patent-pending search engine gives subscribers the ability to perform multi-level searches.

SkillSoft customers include organizations such as: First Union, Clarica (Canada), Fluor Corporation, Verizon, U.S. Army, Deloitte Consulting, Raytheon, IBM, Internal Revenue Service, Lockheed Martin, Microsoft, Army National Guard, Dell Computers, Qwest, Department of Transportation, NEC America, British Telecom and Wells Fargo.

For more information, visit

SkillSoft, SkillPort, RolePlay, Search-and-Learn, Accelerated Path, and e-Learning for the Knowledge Economy are trademarks and/or servicemarks of SkillSoft Corporation. Referenceware is a servicemark of, Inc. All brand names, trademarks, or registered trademarks are the property of their respective holders.


Tom McDonald

Chief Financial Officer of SkillSoft PLC, 603-324-3000, ext. 4232


Michael Polyviou or Kirin Smith

FD Morgen-Walke for SkillSoft PLC