FOR IMMEDIATE RELEASE
BENESSE ANNOUNCES INCREASE IN OFFER PRICE TO $16.50 PER SHARE IN TENDER
OFFER FOR BERLITZ INTERNATIONAL, INC.
New York, New York (May 16, 2001) - Benesse Corporation and Benesse Holdings International, Inc.
announced today that they had increased the offer price in their tender offer to purchase all of the outstanding
shares of common stock of Berlitz International, Inc. (NYSE: BTZ) to $16.50 cash per share and extended the
offer until 5:00 p.m., New York City time, on Thursday, May 31, 2001.
Benesse and Benesse Holdings stated that they had increased the offer price because a sufficient number of
shares had not been tendered at the scheduled expiration date to satisfy the minimum tender condition to the offer
and because the two largest shareholders of Berlitz (other than Benesse Holdings), which hold approximately
16.7% of the outstanding shares, had indicated that they would not tender their shares at the original offer price.
Benesse and Benesse Holdings also stated that they will not (i) further increase the offer price or (ii) further
extend the offer unless required to do so under the terms of the offer (including any further extension required by
Benesse has been advised by Citibank, N.A., the depositary for the tender offer, that as of 5:00 p.m., New York
City time, on Tuesday, May 15, 2001, approximately 488,294 shares of Berlitz's common stock had been
tendered into the offer (including through notices of guaranteed delivery) and not withdrawn. Such shares,
together with shares already owned by Benesse and its affiliates, represent approximately 80.7% of Berlitz's
outstanding shares. If, following completion of the tender offer, Benesse Holdings owns at least 90% of the
outstanding shares of Berlitz's common stock, Benesse Holdings will acquire the remaining outstanding Berlitz
shares by a share exchange without a vote of shareholders of Berlitz, as permitted under applicable law. As a
consequence of the extension of the offer, holders of Berlitz