The Answer Factory - About Us

Press Release

The Answer Factory Debuts With Innovative Educational Programs To Help Average Investors Achieve Financial Life Goals

Research Shows Consumers Want Financial Education But Lack Quality, Conflict-Free Options

NEW YORK, NY - October 1, 2002: The Answer Factory, an education company exclusively focused in the area of personal finance, announced its launch today. The company will produce classes, workshops and conferences about money, investing and 'the business of life' for the average consumer. While it may seem like the last thing people want to think about right now is their financial situation, all indicators show that financial education has never been more necessary and desired than it is today:

College graduates enter the workforce in debt and in doubt. Recent college grads have an average of $2,800 in credit card debt, $20,000 in student loans (1) and only 8% are "very knowledgeable" about how to manage their personal finances(2).

Who is teaching us about money? Less than 21% of students have received any sort of financial education at school(3). And today's parents feel more comfortable talking to their children about current events and drugs than they do about finances(4).

Financial education is about to become a national priority. Given the most complex financial environment this country has ever seen, even the Bush administration is getting involved(5). The message? Investors today need to step up to the plate, get educated and take responsibility for their own financial futures.

Consumers are ready to learn but lack unbiased educational options. In the present economic climate, 83% of professionals between the age of 25 and 55 say that increasing their knowledge of financial matters is either an "important" or "very important" priority. Of these people, more than three quarters say that a lack of unbiased educational classes is a major problem(6).

"There is no disputing that education is the key to personal financial success," said Sherry Lombardi, president of The Answer Factory. "People have told us that books and magazines are great learning tools, but they also want a more hands-on, traditional classroom education. The problem is that most financial seminars and classes are tied to a company selling investment products or services. Our goal is to become a trusted resource for unbiased financial education programs that also are fun and make a difference in peoples lives."

Some of the company's 2003 programs include:

Financially Fit™ 2003 - a four-week 'boot camp' beginning on January 21st featuring financial trainer Galia Gichon;

Money For Dummies™ - an intensive one-day personal finance conference in February featuring the authors of the best-selling "For Dummies" financial books; and

$marten Up! - Learn For The Cure™ - a major women's financial conference in March featuring popular financial authorities like Jean Chazky from NBC's Today Show, David Bach, author of the best-seller Smart Women Finish Rich, and the women anchors of CNBC TV.

About The Answer Factory

The Answer Factory is an independent provider of innovative financial education programs. The company produces classes, workshops and conferences in the areas of personal finance, investing, and 'the business of life.' All programs are open to the public and the company's annual membership program provides members with a 15% discount on courses and access to special promotions. The Answer Factory is headquartered in New York City at 200 Park Avenue South, New York, NY 10003. For more information, visit theanswerfactory.com, or call (212) 674-6100.

Quoted Sources

(1) The Nellie Mae Foundation (2) Northwestern Mutual's Generation 2001 study (3) 1999 Youth & Money Survey, American Savings Education Council (4) The American Education Savings Council and Employee Benefit Research Institute (5) Multiple, Office of Public Affairs, September 4, 2002 (6) 2002 Consumers & Financial Education Study, The Answer Factory, March 2002

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FOR MORE INFORMATION: Sherry Lombardi, The Answer Factory - 212.674.6100, ext. 22

CLASS SCHEDULE

ORDER TICKETS NOW FOR:

Sept. 10, 17, 23 & Oct. 8

Next Conference: Spring 2004