1. A Leader in Corporate e-Learning Investor Presentation September 9, 2003

2. 2 Safe Harbor This presentation will contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding financial projections of SkillSoft, revenues and profits, customer renewals, the return on training investments for the company’s customers, industry ranking, execution of integration plans, management and organizational structure. All forward-looking statements in this release are subject to risks, uncertainties and assumptions that could cause actual results or events to differ materially from those contained in the forward-looking statements. The factors that could cause actual results or events to differ include, but are not limited to, the possibility that the market for the sale of certain products and services may not develop as expected, that development of these products and services may not proceed as planned, or that the parties are unable to transition customers, successfully execute their integration strategies, or achieve planned synergies. Additional factors that could cause actual results or events to differ materially from those in the forward-looking statements are included in SkillSoft’s filings with the Securities and Exchange Commission, specifically SkillSoft’s annual report on Form 10-K for the year ended 1/31/03 and quarterly report on Form 10-Q for the quarter ended 4/30/03. The forward-looking information provided by us in this presentation represents our view as of 9/9/03. We anticipate that subsequent events and developments may cause these views to change. While we may elect to update this forward-looking information at some point in the future, we specifically disclaim any obligation to do so. This forward-looking information should not be relied upon as representing our views at any date subsequent to the date of this presentation.

3. 3 SkillSoft Overview World’s largest e-learning solutions provider…World’s largest e-learning solutions provider… e-learning is our entire business and focus Dual excellence in e-learning content & technologyDual excellence in e-learning content & technology 50,000+ hours of high-quality e-learning content in 15 languages e-Learning delivery, management & reporting platform technology Leading support of major e-learning industry standards Approximately 18% + of revenue invested annually in R&D Largest direct sales & support organization in e-learning industry with approximately 200 direct sales repsLargest direct sales & support organization in e-learning industry with approximately 200 direct sales reps Serving Global 5000 customer baseServing Global 5000 customer base Over 4.5 million registered learnersOver 4.5 million registered learners

4. 4 SkillSoft Overview (Continued) Content: Over 2,000 course and simulation titles encompassing:Over 2,000 course and simulation titles encompassing: Professional effectiveness, management/leadership, project management, sales and customer-facing skills, business strategy and operations, finance, human resources, health and safety, and financial services More than 2,100 course titles encompassing:More than 2,100 course titles encompassing: Software development, operating systems and server technologies, Internet and network technologies, enterprise database systems, Web design, and desktop computer skillsSoftware development, operating systems and server technologies, Internet and network technologies, enterprise database systems, Web design, and desktop computer skills World’s largest provider ofWorld’s largest provider of Referenceware™ Over 5,000 unabridged IT and business books and reports are available to online subscribers through SkillSoft’s subsidiary Books24x7.Over 5,000 unabridged IT and business books and reports are available to online subscribers through SkillSoft’s subsidiary Books24x7.

5. 5 Informal Learning Represents 70% of Learning that Occurs in the Workplace Formal Learning 30% Informal Learning 70% More than 70% of the learning that occurs in the workplace, according to the U.S. Bureau of Statistics, is “informal learning”, i.e., the “improvised, unplanned, instructional efforts that are part of the everyday fabric of business operations.”

6. 6 Reference Material Books Books Manuals Manuals Reports Reports Ask Others Experts & mentors Experts & mentors Managers & coaches Managers & coaches Peers Peers Practice & Use Practice new skills on-the-job Practice new skills on-the-job Learning from experience Learning from experience & refining skills over time & refining skills over time … and Formal Learning To pursue certification, credential To pursue certification, credential or degree or degree To learn a major new skill set To learn a major new skill set How Business Professionals Naturally Learn On-the-Job

7. 7 SkillSoft Solution = Multi-Modal Learning™ Digitizing the ways Business Professionals naturally learn on-the-job Prescriptive Assessment Certification Test Preps SkillMatch® Competency Assessment Tools Prescriptive Assessment Certification Test Preps SkillMatch® Competency Assessment Tools Mentoring 24x7 Online Mentoring by SkillSoft content experts Mentoring 24x7 Online Mentoring by SkillSoft content experts Resources Job Aids SkillBrief™ Articles Blended Learning Toolkits Resources Job Aids SkillBrief™ Articles Blended Learning Toolkits Courseware IT Professional Skills Business Skills Desktop End User Skills Courseware IT Professional Skills Business Skills Desktop End User Skills Simulations Simulations & Labs Mentored Exercises Simulations Simulations & Labs Mentored Exercises Books24x7 Referenceware™ ITPro BusinessPro Office Essentials Books24x7 Referenceware™ ITPro BusinessPro Office Essentials

8. 8 Books24x7 Referenceware™ Access to 400,000+ knowledge objects spanning Information Technology & Business Created with full content of 4000+ best-in- class books, research reports, and manuals 85+ Industry-leading publishers Complete graphics, code samples, illustrations Over 1000 new books & ReferencePoints added annually Patent-Pending Search Technology to Optimize Value for Instant, Informal Learning Key word Search Relevancy Ranked Results Support immediate drill-down to the required knowledge object

9. 9 SkillSoft: A Market Leader Thousands of Global Customers Balanced Sector Representation Cross Industry Appeal No Significant Customer Concentration Thousands of Global Customers Balanced Sector Representation Cross Industry Appeal No Significant Customer Concentration Technology Financial Services Aerospace / Defense Software Professional Services Insurance Health Care Transportation Government Manufacturing IT End User

10. 10 Largest, most responsive online mentoring service in e-learning industry 50+ SkillSoft-employed mentors on staff carrying several hundred current certifications Mentoring available for 50+ major certifications exams in IT and project management 24x7 online mentoring through live chat & email Mentored exercises 24x7 Live Online Mentoring

11. 11 Prescriptive Assessment Over 30 TestPrep exams for major technology certifications from Microsoft, Cisco, CompTIA, Oracle, PMI, etc.  Accurately simulate actual “high stakes” certification exams  Mapped to SkillSoft IT content for immediate reinforcement SkillMatch™ Job Role Competency Assessment Tool Competency models for 20 functional area job roles Mapped to SkillSoft Business content

12. 12 Courseware & Simulations Largest, most-up-to-date library of courseware on today’s relevant business and IT skills Thousands of hours of interactive course content Over 50 major IT certification exams covered Content partnerships with Cisco, Microsoft, Oracle, Project Management Institute, Wharton, and many more Hands-on simulations & labs for real-world practice of business & IT skills Largest annual R&D investment in industry to continually expand coverage of Learning Assets

13. 13 Leveraging the Combined Assets thru Multi-Modal Learning Vision An approach to e-learning that: Fully integrates company-owned, best-of-breed learning assets Recognizes how people actually learn, within the process of getting their jobs done Leverages SkillSoft’s real-life experience with learning technologies Enables customer and learner self-service Plays to SkillSoft’s Strengths = e-Learning Assets …..and changes the rules of the game as to how SkillSoft competes An approach to e-learning that: Fully integrates company-owned, best-of-breed learning assets Recognizes how people actually learn, within the process of getting their jobs done Leverages SkillSoft’s real-life experience with learning technologies Enables customer and learner self-service Plays to SkillSoft’s Strengths = e-Learning Assets …..and changes the rules of the game as to how SkillSoft competes

14. 14 Remaining Issues We Are Working Through Pertaining to the Merger with SmartForce Sales & Marketing G&A Product Development  Go more on the offensive  Focus outward vs. inward (making progress)  Leverage combined company assets via Multi-modal Learning  Get closure on SMTF historical financials  Implement operational and financial best practices across merged entity  Complete product build plan for year on schedule  Complete product retrofit efforts & Platform work on schedule  Release Unified LMS platform in late fall… combining best of SkillPort and MSF (Q4)  Start migration plans to new unified platform

15. A Leader in Corporate e-Learning