The Board of Directors of NewSchool of Architecture & Design and its parent Laureate Education, Inc. agreed to the transfer of ownership of NewSchool to Ambow NSAD, Inc., a U.S. subsidiary of Ambow Education Holding, Ltd. This acquisition, which is contingent on regulatory approvals and other conditions precedent, is expected to be completed prior to the end of the year.

Under this agreement, NewSchool will retain its same name and will continue to offer NewSchool’s same classes and degree programs in architecture, construction management, product design, graphic design and interactive media, and interior architecture and design. The intent is to preserve NewSchool’s reputation and rich institutional legacy in architecture and design.

Ambow Education Holding Ltd. (www.Ambow.net) is a provider of educational and career enhancement services in China with an existing U.S. institution, Bay State College in Boston, Massachusetts, which it successfully acquired in 2017.

The NewSchool Board of Directors is pleased with Ambow’s interest in NewSchool and in enriching student opportunities through geographic and programmatic expansion. This change of ownership provides a very good next step forward for the continued success of our students, and the entire NewSchool community. We are pleased that Ambow intends to seek new opportunities for expansion of programs and locations for NewSchool.

Sincerely,

NewSchool of Architecture & Design Board of Directors

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