EduLink, Inc. Announces Financing Plans

BEVERLY HILLS, CA, November 8, 2001: EduLink, Inc. (OTCBB: MYIQ) announced today
that it intends to organize and raise $10 million of equity capital for a new
subsidiary. The capital will be raised through a proposed private placement of
minority equity interests in the subsidiary. EduLink intends to use the
subsidiary as a vehicle to license for application in other markets EduLink's
proprietary web-based digital information processing software originally
developed for EduLink's Smart Schoolhouse TM system. In addition to providing
funding for the development of the subsidiary's business, EduLink intends to use
a portion of the anticipated proceeds to fund its own operations.

EduLink remains committed to its Smart Schoolhouse TM system and the education
and distance learning market, even as it moves forward with the new subsidiary
to exploit its underlying technology for application in other markets. The new
subsidiary will offer an integrated web-based product that converts vast digital
information resources into intellectual capital by optimizing an enterprise's
capability to organize those resources so they can be effectively located,
shared, re-used, re-purposed and delivered in accordance with specific business
requirements. This product will offer both functional capabilities associated
with content management systems while simultaneously providing the business
driven capabilities associated with knowledge management principles of using and
applying content to solve problems and to complete tasks

Michael Rosenfeld, CEO of EduLink, stated: "During our developmental phase, and
prior to deploying our Smart Schoolhouse(TM) system, we took time to evaluate
our options in terms of pursuing the most cost effective avenues for generating
revenue, as well as the most efficient means for obtaining additional required
financing. After discussions with various large domestic and international
institutions and funds, we felt that a wholly-owned subsidiary organized to
exploit the technology we have developed for our Smart Schoolhouse(TM) system is
the most attractive vehicle to use for the purpose of obtaining the financing
required by both the parent and the subsidiary. Additionally, receipt of funding
for both the parent and the subsidiary through the grant of equity in the
subsidiary would ostensibly not dilute the interests of our existing
shareholders. It is our expectation that our subsidiary's operations will
provide revenues from applications not previously anticipated, thus adding to
EduLink's value without future dilution to current shareholders."

About EduLink
EduLink was founded to create a seamlessly integrated, dynamic Internet
educational service. EduLink combines quality educational content which meets or
exceeds national standards with an affordable service that allows every family
with a home computer to participate. Simply put, EduLink is about helping
children learn and assisting them in reaching their educational potential.
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Once completed, the EduLink service, called the Smart Schoolhouse TM system,
will deliver to schools and homes via the Internet a nationally recognized,
standards based 3rd - 12th grade curriculum with easy to use instructional
programs and educational learning tools for teachers, students and parents.
Additionally, EduLink will support a student assessment and comprehensive school
information management and communication system.

CONTACT: The official EduLink Investor Relations Website: www.edu-link.com or
call Kit Bromley at (888) 575-2494.


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Safe Harbor Statement: The matters in this press release contain forward-looking
statements as defined in Section 27(A) of the Securities Act of 1933 and Section
21 (E) of the Securities Exchange Act of 1934, as amended. Such forward-looking
statements and information generally can be identified by the use of
forward-looking terminology such as "may," "will," "expect," "should," "intend,"
"estimate," "anticipate," "believe," "plan," "continue" or similar terminology
and involve risks and uncertainties, including but not limited to, the raising
of additional capital, the acceptance of our products in the market,
competition, the status of our intellectual property and our dependence on
educational customers for sales of our specialized educational products. Other
uncertainties related to our business and securities, which are traded on the
OTC Bulletin Board, are outlined in the information and materials we file from
time to time with the Securities and Exchange Commission, including but not
necessarily limited to our Annual Report on Form 10-K for the fiscal year ended
December 31, 2000.
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