Exhibit 99.2

2911 Peach Street • P.O. Box 8036 • Wisconsin Rapids, WI 54495-8036

Renaissance Learning, Inc. Announces Fourth Quarter, 2006 Results

WISCONSIN RAPIDS, WI — January 23, 2007 — Renaissance Learning^®, Inc., (Nasdaq: RLRN), a leading provider of technology for personalizing reading, math, and writing practice in pre-K-12 schools and districts, today announced financial results for the quarter and year ended December 31, 2006.  Revenues for the fourth quarter of 2006 were $25.9 million, a decrease of 10.6% from fourth quarter 2005 revenues of $29.0 million.  Net income was $1.8 million, or $.06 per share, compared to net income of $6.0 million, or $.20 per share, for the fourth quarter last year.  2005 fourth quarter results included a pre-tax gain of $1.8 million on the sale of an office building and a decrease in income tax expense of approximately $0.8 million primarily from the favorable resolution of certain income tax matters which increased reported earnings by $.06 per share.

Revenues for the twelve-month period ended December 31, 2006 were $111.5 million, down 4.1% from 2005 revenues of $116.3 million.  Excluding revenue from the AlphaSmart laptop product line which was acquired in late June, 2005, the Company’s year-to-date revenues declined by 12.0% from the prior year. Total deferred revenue increased by $5.7 million for the year.  Net income was $12.0 million for 2006, down 51.5% from the prior year net income of $24.8 million.  Earnings per share for 2006 were $0.41 compared to $0.80 for 2005. Excluding the pre-tax restructuring charge of $1.9 million, earnings per share in 2006 were $0.45. Excluding the gain on the sale of the office building, net of taxes, the decrease in tax expense due to favorable resolution of certain income tax matters and income from discontinued operations of Generation21 of $0.6 million earnings per share were $0.72 in 2005.

“Despite fourth quarter results that were similar to the weak third quarter in terms of revenue and income, we are encouraged by the positive signs that indicate our growth initiatives are working,” commented Terrance D. Paul, Chief Executive Officer of Renaissance Learning.  “Orders for the reading product line were strong in the quarter, laptop sales were down 18% this quarter versus 38% in the third quarter and orders in the UK were up about 50% for the quarter. Operating cash flow was strong at $6.8 million and total deferred revenue reached a record $24.6 million.   We anticipate that our 2007 financial results will be improved over 2006”.

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RLI Q4 Earnings

Renaissance Learning added about 500 new customer schools in the U.S. and Canada during the quarter, bringing total North American schools that are actively using the Company’s products to over 71,000.  Of these, over 59,000 are using the Company’s reading products and over 27,000 are using the Company’s math products.

The Company will hold a conference call at 5:00 p.m. EST today to discuss its financial results, quarterly highlights and business outlook.  The teleconference may be accessed in listen-only mode by dialing 888-373-2605, ID number 8303565 at 5:00 p.m. EST.  Please call a few minutes before the scheduled start time to ensure a proper connection.

A digital recording of the conference call will be made available on January 23, 2007 at 8:00 p.m. through January 30, 2007 at 11:59 p.m.  The replay dial-in is 877-519-4471.  The conference ID number to access the replay is 8303565.

Renaissance Learning, Inc.

Renaissance Learning, Inc. is a leading provider of technology for personalizing reading, math, and writing practice in pre-K-12 schools and districts.  Renaissance Learning products give students and teachers continuous feedback to inform instruction and help teachers and administrators motivate students, dramatically accelerate learning and improve test scores.  Renaissance Learning has seven U.S. locations and subsidiaries in Canada, India and the United Kingdom.

This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements regarding 2007 financial results, growth initiatives and management’s revenue expectations and growth prospects for future periods.  Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements.  Factors that could cause or contribute to such differences include risks associated with the implementation of the Company’s strategic growth plan and other risks affecting the Company’s business as described in the Company’s filings with the Securities and Exchange Commission, including the Company’s 2005 Annual Report on Form 10-K and later filed quarterly reports on Form 10-Q and Current Reports on Form 8-K, which factors are incorporated herein by reference.  The Company expressly disclaims a duty to provide updates to forward-looking statements, whether as a result of new information, future events or other occurrences.

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RLI Q4 Earnings

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RLI Q4 Earnings