ACT, Pearson VUE to Develop and Administer GMAT Worldwide

December 11, 2003

IOWA CITY, Iowa—The Graduate Management Admission Test^® (GMAT^®) will be developed by ACT, Inc. and administered by Pearson VUE, beginning January 1, 2006. The agreement was announced by David A. Wilson, president and CEO of the Graduate Management Admission Council^® (GMAC^®), provider of the GMAT^®.

The GMAT^® is a standardized assessment that helps business schools assess the qualifications of applicants for advanced study in business and management. It is given throughout the year in more than 96 countries around the world and used for admission by over 1,700 management education programs.

ACT, Inc. will be responsible for item development, test development, essay scoring, and research and development activities in support of the GMAT^®, while Pearson VUE will be responsible for all facets of test administration and delivery. Pearson VUE is the electronic testing business of Pearson Education, the world's largest education company.

"We are thrilled to be selected to provide these critical services to the Graduate Management Admission Council^®," said Richard L. Ferguson, ACT's chief executive officer. "The GMAT^® is the international gold standard of assessment for management education. It is relied upon by leading business schools worldwide. ACT will bring to this program 45 years of experience developing educational and business assessments that are known for quality, reliability, and their usefulness in creating opportunities for students, working adults, educators and businesses."

"This partnership will allow us to better serve the graduate management education community in the future by increasing global reach, advancing security measures, and providing flexible access to test information," said Wilson.

In addition to its own testing programs, which include the ACT Assessment, administered more than two million times each year, ACT provides test development services to over 50 professional organizations for use in graduate program admissions decisions as well as for licensure and certification.