Presentation forPresentation forFirst AnalysisFirst Analysis

SchoolcoSchoolco

March 22, 2001March 22, 2001

IHI VisionIHI Vision

Mission Statement

To build an industry leading post-secondary and vocational education

company through the acquisition, integration and consolidation of

operations and assets of acquired companies under a strong

management team with the ultimate exit strategy of taking the

company public.

InterboroInterboroFinancial DataFinancial Data

For more info see tabs 2 and 11 in the appendix

Value Proposition Value Proposition of IHI Programsof IHI Programs

Provide vocational education and practical business skills for high-demand jobs At reasonable and affordable prices

In accelerated time frames

With superior quality training Leverages Intellectual Assets of EVCI

Proprietary videoconferencing technology

Highly experienced management team

Professional acquisition team

Ability to integrate marketing strategies

Target MarketsTarget Markets

IBS and Interboro Institute Strategic Markets

Adults seeking job specific training to change careers to upgrade skills to rejoin the workforce after an absence

High school graduates seeking preparation for vocational employment

certification and licensing basic skills enhancement (e.g. ESL)

For more info see tab 2 in the appendix

Target MarketsTarget Markets

Videoconferencing and asynchronous distance learning Continuing education Job certification and licensing Undergraduate and graduate degrees

IBS and Interboro Institute Expanded Strategic Initiatives

Non-Traditional Students Women and minority students IBS/Interboro Alumni International students

Double cohort 2003 in Ontario

For more info see tab 2 and tab 6 in the appendix

Target MarketsTarget Markets

Canadian Market Size

25 million Canadians between the ages of 18-35 Five million post secondary education candidates In IT alone, there are 50,000 vacant jobs

Greater New York Market Size

Five million New Yorkers between the ages of 18-35 One million post secondary education candidates In ophthalmic dispensing, Interboro is #1 in New York

state

For more info see tab 6 in the appendix

EnrollmentEnrollment

International Business Schools Actual 2000……………..8,630 students Projected 2001………..9,541 students Projected 2002……….10,495 students

Interboro Institute Actual 2000……………..2,377 students Projected 2001………..2,910 students Projected 2002………..3,200 students

For more info see tabs 2, 3,4,5,10 and 12 in the appendix

Enrollments byEnrollments byMajor ProgramsMajor Programs

International Business Schools Business Administration……………………..33.5% Administrative Studies……………………...31.3% Information Technology……………………..28.9% Health

Care…………………………………………..6.3%Interboro Institute

Computer Studies………………………………….28% Business Management and Accounting...28% Paralegal and Secretarial Science………..30% Ophthalmology……………………………………..11% Security…………………………………………………..3%

For more info see tabs 2, 3, 4, 5 and 10 in the appendix

IBS CompetitionIBS Competition

Community Colleges

Private Vocational Schools DeVry Academy of Learning Institute for Computer Studies CDI Education Corporation Herzing Academy ITI Education Corporation

For more info see tab 2 in the appendix

Interboro CompetitionInterboro Competition

Community Colleges City University of NY Community College Hostos Community College

Proprietary Colleges DeVry Monroe Katherine Gibbs

Selected Four Year Colleges Mercy College College of Insurance

IBS StrategyIBS Strategy

#1 proprietary school in Canada

Establish several new locations in Canada and United States

Create new vocational and academic programs

Increase retention and placement rates of students

Increase facility utilization for evening and weekend classes

Increase target market penetration

Increase international student population

Utilize EVCI videoconferencing technologies to maximize

economies of scale and profits

For more info see tabs 1, 2 and 3 in the appendix

IBS Financial StrategyIBS Financial Strategy

Profitable operations will go to bottom line through

restructuring of debt (2001)

Continued emphasis on bringing down default rate

Enhance revenue through aggressive growth strategy

Close unprofitable IBS locations

Increase EBIDTA over next 3 years from 8% in 2000

to 22%

Increase margins for IBS

For more info see tabs 2, 4, 9 and 11 in the appendix

Interboro StrategyInterboro Strategy Continue to significantly increase revenue, EBIDTA, profits

Open new Extension Centers and Branch Campuses

throughout New York state

Create new Associate and Bachelor Degree programs

Increase international student population

Incorporate IBS modular curriculum system as part of

Interboro’s vocational programs

Increase student retention and placement rates

Utilize EVCI videoconferencing technologies to maximize

economies of scale and profits

For more info see tabs 1, 2, 3 and 12 in the appendix

IHI StrategyIHI Strategy

Acquire independent educational facilities, with at least

one million dollars in EBITDA

Target between two and four acquisitions per year

Open new locations to address different student

market niches

Attract experienced, senior level management with

proven records of excellent performance

Increase shareholder value

For more info see tabs 1 and 2 in the appendix

Interboro Holding Interboro Holding Executive Management Executive Management

TeamTeam Dr. Arol I. Buntzman, Chairman and CEO

Dr. John J. McGrath, President and Director

Richard Goldenberg, CFO and Director

Allan N. Ebedes, President and COO (IBS)

Stephen H. Adolphus, President (Interboro Inst.)

Arthur Goldberg, Chief Financial Consultant (IHI)

Interboro Holding Interboro Holding Senior Management TeamSenior Management Team

Philip D. Forster, Chief Financial Officer (IBS)

Dr. Norman Puffett, VP for Academic Projects (EVCI)

Frank Gallo, Vice President for Operations (EVCI)

Kay Schmalz, VP for Regulation and Compliance

(EVCI)

William Neumeister, Vice President/Technology (EVCI)

Ove Jornaes, Exec. Director of Info Technology (EVCI)

Michael J. O’Brien, General Counsel (EVCI)

Use of ProceedsUse of ProceedsU.S.$8 million raiseU.S.$8 million raise

Proceeds $8,000,000 Retire Bank Debt $3,333,000 Retire 1/2 debenture 899,000 Other (see schedule) 2,588,000

6,820,000

Working Capital $1,180,000

For more info see tab 9 in the appendix

IHIIHIConsolidated NumbersConsolidated Numbers

For more info see tabs 2 and 11 in the appendix

Conclusion: Conclusion: Investment DriversInvestment Drivers

IBS is one of only two private Canadian vocational schools with their own financial aid student processing center

Increasing “skills gap” in Canada, exacerbated by “brain drain” to USA

Canadian public higher education system unable to meet the needs of today’s modern workplace

Increasing numbers of unserved and new student population segments

More flexible training options required by busy adults (course times, duration of classes, scheduling etc.)

Expectation of strong revenue growth through internal and geographic expansion and acquisitions

For more info see tab 2 in the appendix

Conclusion: Conclusion: Investment DriversInvestment Drivers

Enhance existing and new educational offerings and

profitability through synchronous and asynchronous

distance learning

Valuable IBS and Interboro content plus other

educational offerings available from EVCI

Excellent balance sheet after restructuring

Attractive cash flow characteristics

Skilled management team with ability to implement

profitable business strategies

For more info see tab 2 in the appendix