Goosebumps HorrorLand

NEW YORK - July 22, 2008 -- Scholastic Interactive, a division of Scholastic Media (SM) ( www.scholastic.com) today announced Goosebumps HorrorLand™ for Wii™, PlayStation®2 computer entertainment system and Nintendo DS™. Goosebumps HorrorLand is the first game to be published under Scholastic Interactive's new publishing label ELASTIC™.

Scholastic Interactive is already well-known for high quality, award-winning games that educate and entertain children. Now, with the introduction of the ELASTIC label, the company is expanding its catalog to include more entertainment driven titles and broaden its reach to consumers. The titles under the new label will be published across all interactive platforms and will feature content based on Scholastic properties, such as Goosebumps®, as well as other original and third-party licensed properties.

"We are delighted to be launching our new games label, ELASTIC, with Goosebumps. Goosebumps has a broad and enthusiastic global fan base who will be thrilled with our new games. What better way to deliver the thrills and chills of a Goosebumps experience than with a game that puts the player in the heart of HorrorLand," said Deborah Forte, President, Scholastic Media and Executive Vice President of Scholastic Inc.

Marking the brand's first foray into gaming consoles and handhelds, Goosebumps HorrorLand is an adventure game set in a fright-themed amusement park filled with over thirty thrilling rides and bone-chilling attractions. Sounds like fun - until players discover the scares are all too real and find themselves vanquishing vampires, hanging on for life on the Roller Ghoster and battling Certain Death. As players fiendishly try to escape the park, they will unravel a mystery, encounter a host of creepy horrors, monsters and mummies plus trademark Goosebumps twists and cliffhangers. Goosebumps HorrorLand will offer the suspense, pulse-pounding action, tension and humor that defines the franchise. Goosebumps HorrorLand, the video game, is set to make nightmares come to life on Wii™ (SRP $39.99), Nintendo DS™ (SRP $29.99), and Playstation®2 system (SRP $29.99) in October 2008.

For an exclusive peek at Goosebumps HorrorLand, go to www.GoosebumpsVideoGame.com or to YouTube to view the "No Ordinary Park" teaser trailer.

With more than 300 million books sold in 32 languages, Goosebumps is a global mega brand. Goosebumps HorrorLand is based on the new 12 book Scholastic series by R.L. Stine that launched in April to terrific sales and national press attention. Additional content can be found on the official Goosebumps Web site www.scholastic.com/goosebumps.

About Scholastic Media

Scholastic Media (SM), the entertainment and media division of Scholastic, is a leading producer of quality, family-oriented content across multiple platforms, including feature films, television programming, videos, interactive and audio products, and web sites, and is a major developer and marketer of children's brands worldwide.

About Scholastic

Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books and a leader in educational technology and children's media. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs and school-based book fairs, retail stores, schools, libraries, television networks and the Company's Internet Site, www.scholastic.com.

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CONTACT: Audra McIver

BENDER/HELPER IMPACT (for Scholastic)

Audra_mciver@bhimpact.com

212-689-6360