Used Textbook Association Releases Results of Used Textbook Value Survey

Used Textbook Association Releases Results of Used Textbook Value Survey

Omaha, Nebr., Aug. 11, 2008 - The Used Textbook Association announced today the results of a survey, done in
collaboration with Collegiate Research Services of NACS, to measure the financial impact of a robust used
textbook program on students and college stores.

"As textbook prices have continued to rise, so has the outcry of concern from students and parents. Students
have responded to the issue of textbook affordability by purchasing used textbooks," said Eunice Clark, Executive
Director, Used Textbook Association. "Used textbooks are an economical solution to the rising cost of textbooks
but we believed it was important to quantify the financial value used textbooks provide students."

Ten bookstores -- all institutional stores at 4-year schools -- were selected to participate in the research project.
Each submitted their bookstore's top 300 titles based on units sold in Fall 2007. This resulted in 1,739 unique
titles used to compile the data. The study reviewed the financial impact of new books versus used books, new
editions, bundles and book buys.

Key Findings
- The average student is paying approximately 17 percent of his/her annual textbook bill to support the
increased frequency of new editions and bundles which leads to unnecessary obsolescence. The initial
increased cost of these products, coupled with the fact that they reduce the supply of used books, which
students prefer to buy, results in an additional expense for students.
- Approximately 51 million new individual textbooks are sold annually in college bookstores with students
paying a total premium of about $816 million.
- Students pay a $228 million premium for new edition textbooks each year.
- Students pay a premium of $342 million on new bundles, versus purchasing just a textbook.
- For every 10 percent increase in units bought back for use on campus, the total student benefit in
buyback dollars would be about $58 million.

Clark continued: "Students prefer used textbooks by a margin of two to one and it's no surprise when you
evaluate the cost of new versus used textbooks. High quality textbooks are important to ensure students receive
a quality education - we're not advocating compromising quality. However, we are advocating responsibility of
the publishers to ensure that only reasonable new editions are brought to market; limiting unnecessary bundles
and selling bundled items separately; and reducing built in obsolescence."

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