HAWTHORNE, N.Y., April 12, 2006 (PRIMEZONE) -- SmartPros Ltd. (AMEX:PED), a leader in the field of accredited professional education and corporate training, and The Network of Trial Law Firms, Inc. (TRIAL.com(r)), a not-for-profit association of 27 leading trial and litigation law firms, today announced the release of a new online Professional Education Center and Learning Management System (LMS) to support The Network's Continuing Legal Education (CLE) efforts. The system is a prototype for state-of-the-art delivery of streaming video CLE in the broader legal industry.
The initial product launch includes six hours of multimedia CLE developed by The Network, and addresses management of high-risk litigation for in-house counsel. The content draws on the popularity of The Network's unique 20-minute presentation concept. The Network has been producing litigation management CLE since 1993, and delivers several live seminars each year. Another eight hours of CLE content will be added in the near future and The Network is producing eight additional hours later this month which are expected to be available online later this spring.
The new courseware was developed using the SmartPros eLearning Player (eLP)(tm) platform and is delivered to viewers via the SmartPros Professional Education Center (PEC)(tm) Learning Management System. The multimedia content is produced using Adobe Flash(r) video synchronized with Microsoft(r) PowerPoint(r) presentations and demonstrative video clips. The result is an as-good-as-being-there multimedia CLE presentation that includes downloadable PDF files of course book materials and PowerPoint presentations and affords opportunities to have questions answered by course speakers.
"The Network's leading-edge course content was a perfect fit for our latest developments in online continuing education delivery," said SmartPros President, Jack Fingerhut. "Partnering with The Network on this project was a perfect and natural progression for SmartPros' entry into the legal marketplace."
The Network intends to use this new capability to reach tens of thousands of in-house counsel who are unable to attend any of The Network's capacity-limited live programs.
"We selected SmartPros for its established infrastructure and ability to deliver education content online without meaningful limitations or restrictions," said Ellis Mirsky, Executive Director and General Counsel of The Network. "We worked with them to adapt their platforms specifically to suit the unique needs of the legal market, including accreditation and competitive pricing."
"We think we've created a best-of-breed product that will be well received by the CLE marketplace," added Edd Schillay, Manager of Operations of The Network.
Founded in 1993, The Network is an approved CLE provider in the state of California and its programs have been approved for accreditation in numerous other states, including New York, Texas and Florida. Streaming video is an emerging form of CLE delivery and is not yet approved by every state for accreditation, although requirements are changing in recognition of the evolving technologies for delivering information to viewers at home and in their offices.
Founded in 1981, SmartPros is a leading provider of professional education products to Fortune 500 companies, as well as to major firms and associations in the accounting, finance and engineering markets. This new product is SmartPros' first private-labeled continuing education presence in the legal industry. With this tailored delivery platform, SmartPros expects to grow quickly in the market segment for law firms and associations desiring private-labeled CLE for client communication and in-house training purposes.
The new product can be seen at: http://education.smartpros.com/trial or http://www.trial.com/online
About SmartPros Ltd.
Founded in 1981, SmartPros Ltd. is an industry leader in the field of accredited professional education and corporate training. Its products and services are primarily focused in the accredited professional areas of corporate accounting, financial management, public accounting, governmental and not-for-profit accounting, banking, engineering, and ethics and compliance. SmartPros is a leading provider of professional education products to Fortune 500 companies, as well as the major firms and associations in each of its professional markets. SmartPros provides education and content publishing and development services in a variety of media including Web, CD-ROM and video. Our subscription libraries feature hundreds of course titles and 1,000+ hours of accredited education. SmartPros' proprietary Professional Education Center (PEC) Learning Management System (LMS) offers enterprise distribution and administration of education content and information. In addition, SmartPros produces a popular news and information portal for accounting and finance professionals that services 300,000+ visitors and 100,000+ subscribers per month. Visit: www.smartpros.com
About The Network of Trial Law Firms (Trial.com)
Dedicated to Continuing Legal Education (CLE) and focused on trial and litigation issues, The Network of Trial Law Firms, Inc. (Trial.com) is a non-profit association of 27 law firms with more than 6,000 attorneys practicing in 105 offices throughout the United States and Canada. The goal of The Network is to provide clients with high quality trial and litigation representation through advances in education, technology, business and science. The Network is engaged in a number of activities to assist its member law firms to accomplish that goal including research and study of advances in the state-of-the-art of legal representation, and sponsorship of seminars for continuing legal education of corporate and outside counsel and insurance professionals. Visit: www.trial.com
Safe Harbor Statement
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include expectations about the effect of the acquisition on SmartPros' business, operations, financial condition and results of operations. Actual results may differ materially from those contained in the forward-looking statements in this press release. SmartPros and The Network of Trial Law Firms, Inc. (Trial.com(r)) undertake no obligation and do not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.