DISCOUNT POLICY ON TUITION FOR SCHOOL YEAR 2012-2013

ACS will continue its tuition prepayment discount policy for the year 2012-2013.  This policy is designed to achieve the following benefits:

• ACS parents get a tuition discount, minimizing the annual tuition increase.
• Improves the early registration drive, which would help make the class scheduling process more efficient. Paying the tuition early, ACS parents participating in this program make a firm commitment that they would re-enroll next September.
• ACS improves its cash flow position.

Tuition prepayment discount policy:

ACS would provide a 2% discount per child to all parents and companies that pay the next year’s first semester tuition by June 1, 2012 (3 months earlier). 

For example:

• A parent that prepays the first semester’s tuition of 6,000 € by June 1, 2012 will receive the discount amount of 120 €.

The prepayment discount of 2%, which ACS will provide to parents for paying the specified tuition earlier by only three months, corresponds to an annualized investment rate of return of 8%. ACS parents who are able to prepay the tuition by three months would benefit from this offering and should take advantage of this prepayment discount policy.