BOSTON, MA— December 21, 2009  — Falcon Investment Advisors LLC ("Falcon") announced an investment in The Princeton Review (Nasdaq: REVU, “REVU”), a leading provider of test preparation and educational support services. The financing was provided in support of REVU’s acquisition of Penn Foster Education Group, Inc. (“Penn Foster”), one of the oldest and largest online career education companies in the U.S.

A total of $205 million in new financing was provided by a prominent group of lenders and investors, including The Princeton Review's existing preferred stock investors. Falcon co-structured and co-led both the senior subordinated and junior subordinated note securities with investments of $25 million and $12.5 million, respectively. Falcon also invested $15 million in preferred stock. Falcon and its partners structured a creative financing solution to a complex situation, which provided REVU's shareholders and management team a competitive advantage in its bid to acquire Penn Foster.