NEWS

MOODY INTERNATIONAL ACQUIRES US BEHAVIORAL TRAINING COMPANY RESULTS IN LEARNING

London 13 September 2007 -- Moody International today announced the acquisition of Results in Learning (RIL), also known as Randy Smith Training Solutions, a Louisiana based technical and behavioural training company providing services primarily to the Oil and Gas sector.  Terms of the transaction were not disclosed.
 
Moody, which has annual sales of circa US$360 million, is headquartered in Cuckfield in the south of England. It has an international network of over 100 offices in 60 countries. It is a leading global provider of technical inspection services to the oil and gas, construction, mining and power generation industries and certification services to all sectors. Its blue chip client base includes BP, Aramco, Bechtel and Dow Chemicals.

Brendan Connolly, CEO of Moody International, commented: "RIL shares our client base and is the ideal vehicle to take advantage of the Moody International distribution network and presence in over 60 countries to increase coverage of its current training portfolio. We also plan to merge Moody’s current training programmes into RIL, improve our own internal training process and develop new training programmes aimed at the inspection market. This creates a fourth service line for Moody and we are excited at the potential opportunities that will result.”
 
Greg Anderson, President and CEO of RIL, said:  “For almost 20 years we have been a pre-eminent provider of training for the oil and gas sector.  The financial strength and geographic footprint of Moody International will enable us to continue to develop our people and to expand our curriculum, in order to help our clients overcome the shortage of qualified personnel necessary to meet tomorrow’s business demands.”

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For further information contact Andrew Jackson, Mergers and Acquisitions Manager, telephone +44 1444 472940 or email a.jackson@moodyint.com

Note to editors:

Established in 1911, and with over 3500 employees and contractors today, Moody International provides vendor inspection and related services to over 300 clients worldwide. Moody also provides management system certification [ISO 9001, 14001, BRC] with over 38,000 certificates worldwide and product certification [CE marking]. Moody was recently bought by Investcorp in February 2007 as a secondary buy out from Close Brothers.

Founded in 1988 by Randy Smith to focus on well control and technical training, Randy Smith Training Solutions (RSTS) expanded to offer behavioural type safety training in the mid-1990’s, due to client and market demand. Greg Anderson, the current CEO, joined in 1999 and re-energised the organisation acquiring several small training companies in 2003 leading to a broader offering of courses. In 2004 the company name was changed to Results in Learning (RIL). RIL has training centres in the USA, UK, Colombia and Egypt and trained over 18,500 students in 2006. Their client base includes Chevron, Global Santa Fe, Ensco and Schlumberger.