1002037--12/11/2007--LEARNING_TREE_INTERNATIONAL

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This section contains risk factors related to Learning Tree International, Inc. s ( Learning Tree ) business. We use the terms we , our , and us to refer to Learning Tree and its subsidiaries. You should carefully consider the following discussion of various risks and uncertainties, keeping in mind that they are not the only ones that affect us. Additional risks which we do not presently consider material, or of which we are not currently aware, may also have an adverse impact on us. Historically, Learning Tree s common stock price has fluctuated, and we expect fluctuations to continue in the future. Historically, Learning Tree s operating results have fluctuated, and we expect fluctuations to continue in the future. If we do not adequately anticipate or respond to changes in technology, it could have a material adverse effect on our operating results and stock price. If our customers decide that they prefer training offered by new or existing competitors, it could have a material adverse effect on our operating results and stock price. If we do not adequately anticipate and respond to the risks inherent in international operations, it could have a material adverse effect on our operating results and stock price. If we are unable to recruit and retain qualified personnel, it could have a material adverse effect on our operating results and stock price. If substantial unauthorized use of our courses occurs or if we must defend against infringement claims, it could have a material adverse effect on our operating results and stock price. Laws and regulations can affect our operations and may limit our ability to operate in certain states. Senior personnel have significant influence over our policies and affairs and may be in a position to determine the outcome of corporate actions. If we cannot successfully implement any future acquisitions or other strategic transactions, it could have a material adverse effect on our operating results and stock price. General domestic and international economic conditions could have a material adverse effect on our operating results and stock price. Certain provisions of our Restated Certificate of Incorporation, our Bylaws and Delaware law could adversely impact the interests of our stockholders. Since our founding in 1974, various natural disasters, external labor disruptions, acts of war or terrorism and other adverse external factors have from time to time impaired our ability to conduct our business, resulted in the loss of revenue or otherwise affected our operating results. When these or other external events occur in the future, they could have a material adverse effect on our operating results and stock price.

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1002037--12/11/2007--LEARNING_TREE_INTERNATIONAL_INC