Exhibit 99.1 Item 2.02 Results of Operations and Financial Condition On December 20, 2007, Scholastic Corporation issued the press release attached hereto as Exhibit 99.1 announcing its results of operations for its quarter ended November 30, 2007. The information in this Current Report on Form 8-K, including Exhibits, is being furnished to the Securities and Exchange Commission (the "SEC") and shall not be deemed to be incorporated by reference into any of Scholastic's filings with the SEC under the Securities Act of 1933. Item 9.01 Financial Statements and Exhibits (a) Not applicable (b) Not applicable (c) The following exhibit is filed as part of this report: Press release of Scholastic Corporation, dated December 20, 2007, is filed as Exhibit 99.1. ================================================================================ SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 20, 2007 SCHOLASTIC CORPORATION (Registrant) /s/ Maureen O'Connell --------------------- Name: Maureen O'Connell Title:Executive Vice President, Chief Administrative Officer and Chief Financial Officer ================================================================================ EXHIBIT INDEX Number Exhibit ------ ------- 99.1 Press release of Scholastic Corporation, dated December 20, 2007 ================================================================================ </TEXT> </DOCUMENT>