SkillSoft Corp. and Procter & Gamble in Global Agreement P&G Adds Speedy, Efficient Online e-Learning Solutions for All Associates

July 31, 2000

NASHUA, N.H., July 31 — SkillSoft Corp. (Nasdaq: SKIL), a leading provider of web-based e-Learning solutions for business and professional effectiveness skills, announced a global agreement with Procter & Gamble. Under the multi-year agreement, all 110,000-plus P&G associates worldwide will have access to SkillSoft courses on the Web.

P&G’s investment in Web Based Training was driven by the desire for speed and efficiency in delivering knowledge and skill development to employees on a worldwide basis, as well as provide a consistent and effective approach to training.

P&G has developed “RapidLEARN”– an on-line e-Learning system that brings SkillSoft courses and other learning experiences to employees on a “just enough/just in time” basis. RapidLEARN –already tested by P&G in several countries and different areas of their business, is scheduled for launch on August 17th this year. SkillSoft courses will be used to support P&G’s core competencies with a focus on leadership, communication skills, project management, and other key business skills.

Larry W. Green, leader of Procter & Gamble’s RapidLEARN e-Learning project, said: “e-Learning for P&G is just one more step in bringing the best and latest in employee development into the company – it reinforces our ongoing commitment to our employees. e-Learning enables employees to ‘drill down’ and get just the learning they need, just when they need it, in a cost-effective manner. SkillSoft will be an integral part of our e-Learning strategy.”

Chuck Moran, president and chief executive officer of SkillSoft, said, “Organizations, like Procter and Gamble, need to increase the scope and efficiency of their training methods and practices, and turn to SkillSoft for Web-based solutions. The reason why SkillSoft is considered a leading supplier of online soft skills e-Learning programs, is based on the number and quality of our customers, coupled with the industries largest course library comprising leading-edge curricular designed for Web delivery.”

Moran also said, “On-line soft skills training is proving to be a major benefit to customers who train employees to continually keep up with industry and job-related developments. Also, today’s low jobless rate – troublesome for companies hoping to retain valuable personnel assets – can be turned to advantage by using SkillSoft.”

Moran quoted Elliott Masie, e-Learning authority, and president of the MASIE Center, who says, “In order for technology-based training to be an effective tool to teach non-IT skills, especially soft skills, companies need to have access to many courses in a variety of different subject areas.”

Research firm IDC estimates that the corporate market for e- Learning in 2000 will exceed $2 billion, and by 2003 $11 billion, an 83% compound interest growth rate over the previous five years. Soft skills (non-IT) e-Learning market revenues today accounts for 22% of the total market. This fast-growing segment will have over 50% of the IT training market by 2003.

About Procter & Gamble

Procter & Gamble markets approximately 300 brands to nearly five billion consumers in over 140 countries. These brands include Tide(R), Ariel(R), Crest(R), Pantene Pro-V(R), Always(R), Whisper(R), Pringles(R), Pampers(R), Oil of Olay(R), Iams(R) and Vicks(R). Based in Cincinnati, Ohio, USA, P&G has on the ground operations in over 70 countries and employs more than 110,000 employees worldwide.

About SkillSoft

SkillSoft provides e-Learning solutions for Global 2000 companies, covering a broad variety of critical professional and business skills (soft skills). All SkillSoft courses and support tools are specifically designed to reap the benefits offered by the Internet and Web-based customer environments. This design enables SkillSoft product users to access needed material, with the required specificity or breadth — any time and at any location. Customers receive comprehensive learning and performance support solutions for their workforce, comprised of a library of over 300 courses (over 3,500 learning objects). This encompasses a wide array of professional effectiveness skills, such as management, leadership, communication, project management and customer service, as well as business subjects such as finance, marketing, sales, and strategy. 

Additional information about SkillSoft is available by calling (603) 324-3000.

SkillSoft, SkillPort, and Learning Assistant are trademarks of SkillSoft Corp. All brand names, trademarks, or registered trademarks are the property of their respective holders. 

Safe harbor language: This release may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may 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 those matters disclosed under the heading “Risk Factors” in the Company’s Form S-1 filed with the Securities and Exchange Commission. SOURCE SkillSoft Corporation


Contact Information

SkillSoft Corporation

Dennis Brown Director, Marketing Communications

Phone: 603 324 3000