ARTLP The Aristotle (MM)

The Aristotle Corporation (NASDAQ: ARTL; ARTLP) announced today its results of operations for the quarter ended March 31, 2009.

First Quarter 2009 Results

For the quarter ended March 31, 2009, net earnings applicable to common stockholders were $2.0 million, or $.11 per diluted common share, compared to $2.8 million, or $.16 per diluted common share, for the quarter ended March 31, 2008. Earnings from operations were $6.9 million for the current quarter versus $8.1 million for last year�s quarter. The results of operations for the quarter ended March 31, 2009 were primarily impacted by a decline in net sales to $46.3 million from $50.4 million for the quarter ended March 31, 2008.

Steven B. Lapin, President and Chief Operating Officer, and Dean Johnson, Senior Vice President and Chief Financial Officer, stated, �Revenues for your Company�s 2009 first quarter were negatively affected by the funding deterioration of state and local education budgets. Management anticipates that revenues will continue to be restricted so long as employment conditions remain unstable and until education-earmarked dollars from the 2009 stimulus package begin to flow meaningfully into state and local coffers. Your Company has been vigilant in controlling, where prudent, factors that influence earnings; for example, gross profit margin for the first quarter of 2009 increased 110 basis points to 40.6% compared to the first quarter of 2008 principally as a result of procurement action plans to control transportation costs. In addition, variable components of selling and administrative expenses, with particular focus on labor, were reduced in reaction to lower order volume. Management will continue to scrutinize operating costs in order to protect earnings potential during this period of economic disruption without negatively impacting the Company�s long term financial goals.�

About Aristotle

The Aristotle Corporation, founded in 1986, and headquartered in Stamford, CT, is a leading manufacturer and global distributor of educational, health, medical technology and agricultural products. A selection of over 80,000 items is offered, primarily through 50 separate catalogs carrying the brand of Nasco (founded in 1941), as well as those bearing the brands of Life/Form�, Whirl-Pak�, Simulaids, Triarco, Spectrum Educational Supplies, Hubbard Scientific, Scott Resources, Haan Crafts, CPR Prompt�, Ginsberg Scientific, and Summit Learning. Products include educational materials and supplies for substantially all K-12 curricula, molded plastics, biological materials, medical simulators, health care products and items for the agricultural, senior care and food industries. Aristotle has approximately 850 full-time employees at its operations in Fort Atkinson, WI, Modesto, CA, Fort Collins, CO, Plymouth, MN, Saugerties, NY, Chippewa Falls, WI, Otterbein, IN and Newmarket, Ontario, Canada.

There are 18.0 million shares outstanding of Aristotle common stock (NASDAQ: ARTL) and 1.1 million shares outstanding of Series I preferred stock (NASDAQ: ARTLP); there are also 11.0 million privately-held shares outstanding of Series J preferred stock. Aristotle has about 3,600 stockholders of record.

Further information about Aristotle can be obtained on its website, at aristotlecorp.net.

Safe Harbor under the Private Securities Litigation Reform Act of 1995

To the extent that any of the statements contained in this release are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks that could cause actual results to differ materially from those projected or suggested in such forward-looking statements. Aristotle cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: (i) the ability of Aristotle to obtain financing and additional capital to fund its business strategy on acceptable terms, if at all; (ii) the ability of Aristotle on a timely basis to find, prudently negotiate and consummate additional acquisitions; (iii) the ability of Aristotle to manage any to-be acquired businesses; (iv) there is not an active trading market for the Company�s securities, and the stock prices thereof are highly volatile, due in part to the relatively small percentage of the Company�s securities which is not held by the Company�s majority stockholder and members of the Company�s Board of Directors and management; (v) the ability of Aristotle to retain its Federal net operating tax loss carryforward position and other deferred tax positions; and (vi) other factors identified in Item 1A, Risk Factors, contained in the Company�s Annual Report on Form 10-K for the year ended December 31, 2008. As a result, Aristotle�s future development efforts involve a high degree of risk. For further information, please see Aristotle�s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-K/A, 10-Q and 8-K.

� THE ARISTOTLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) (Unaudited) �

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� � Three Months Ended March 31, 2009 � � 2008 � Net sales $ 46,301 50,432 Cost of sales 27,482 � 30,536 � Gross profit 18,819 19,896 � Selling and administrative expense 11,939 � 11,826 � Earnings from operations 6,880 8,070 � Other income (expense): Interest expense (194 ) (288 ) Other, net (100 ) 232 � (294 ) (56 ) Earnings before income taxes 6,586 8,014 � Income taxes: Current 2,493 2,328 Deferred (54 ) 687 � 2,439 � 3,015 � Net earnings 4,147 4,999 � Preferred dividends 2,156 � 2,156 � Net earnings applicable to common stockholders $ 1,991 � 2,843 � � Earnings per common share: Basic $ .11 .16 Diluted $ .11 .16 � Weighted average common shares outstanding: Basic 17,962,875 17,961,040 Diluted 17,962,875 17,973,632 � THE ARISTOTLE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) � � � March 31, � � December 31, � �

March 31,

Assets 2009 2008

2008

(unaudited) (unaudited) Current assets: Cash and cash equivalents $ 14,807 15,290 4,514 Marketable securities 4,160 4,437 3,305 Investments 2,840 2,876 19,277 Accounts receivable, net 16,705 14,048 20,481 Inventories 45,076 44,653 44,156 Prepaid expenses and other 6,619 8,542 7,318 Income tax receivable 3,272 5,396 283 Deferred income taxes 4,662 � 4,644 � 1,910 Total current assets 98,141 99,886 101,244 � Property, plant and equipment, net 27,407 27,808 28,193 � Goodwill 13,588 13,712 14,338 Deferred income taxes 6,668 6,668 5,646 Investments 4,318 4,318 4,319 Other assets 964 � 884 � 518 Total assets $ 151,086 � 153,276 � 154,258 � Liabilities and Stockholders' Equity Current liabilities: Current installments of long-term debt $ 292 294 302 Trade accounts payable 7,675 9,576 8,632 Accrued expenses 12,206 11,641 6,100 Accrued dividends payable - � 2,156 � - Total current liabilities 20,173 23,667 15,034 � Long-term debt, less current installments 10,293 10,364 16,083 Long-term pension obligations 5,684 5,891 2,704 Other long-term accruals 2,474 2,467 2,439 � Stockholders' equity: Preferred stock, Series I 6,489 6,489 6,489 Preferred stock, Series J 65,760 65,760 65,760 Common stock 180 180 180 Additional paid-in capital 7,690 7,690 7,674 Retained earnings 36,970 34,979 37,807 Accumulated other comprehensive income (loss) (4,627 ) (4,211 ) 88 Total stockholders' equity 112,462 � 110,887 � 117,998 Total liabilities and stockholders' equity $ 151,086 � 153,276 � 154,258