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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001275287-06-004002.txt : 20060801
<SEC-HEADER>0001275287-06-004002.hdr.sgml : 20060801
<ACCEPTANCE-DATETIME>20060801114953
ACCESSION NUMBER:		0001275287-06-004002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060801
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060801
DATE AS OF CHANGE:		20060801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDUCATIONAL DEVELOPMENT CORP
		CENTRAL INDEX KEY:			0000031667
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]
		IRS NUMBER:				730750007
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-04957
		FILM NUMBER:		06993367

	BUSINESS ADDRESS:	
		STREET 1:		10302 E 55TH PL #B
		CITY:			TULSA
		STATE:			OK
		ZIP:			74146
		BUSINESS PHONE:		9186224522

	MAIL ADDRESS:	
		STREET 1:		PO BOX 470663
		CITY:			TULSA
		STATE:			OK
		ZIP:			741460663

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TUTOR TAPES INTERNATIONAL CORP
		DATE OF NAME CHANGE:	19701030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL TEACHING TAPES INC
		DATE OF NAME CHANGE:	19701030
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ed6617.txt
<DESCRIPTION>FORM 8-K
<TEXT>
================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported):  August 1, 2006

                       EDUCATIONAL DEVELOPMENT CORPORATION
             (Exact name of registrant as specified in its charter)

                         Commission file number: 0-4957

                Delaware                                    73-0750007
     (State or other jurisdiction of                     (I.R.S. Employer
     incorporation or organization)                     Identification No.)

                10302 East 55th Place, Tulsa, Oklahoma 74146-6515
              (Address of principal executive offices and Zip Code)

                                 (918) 622-4522
              (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities
     Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
     Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

================================================================================

<PAGE>

ITEM 1.02   TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT

            On August 1, 2006, Educational Development Corporation announces
that effective July 26, 2006, the Plan of Reorganization and Dip Financing
Agreement with Intervisual Books, Inc. located in Inglewood, California, that
the Company entered into on July 13, 2006, has been cancelled.

            Intervisual Books, Inc was operating as a debtor-in-possession in a
Chapter 11 bankruptcy case. On July 26, 2006, in the United States Bankruptcy
Court in Los Angeles, California, the court conducted an auction for the assets
of Intervisual Books, Inc. The Company was not the successful bidder in this
auction. However, the Company is actively pursuing other acquisition candidates
that would provide an operational and financial fit for the Company.

            A copy of the press release making this announcement is furnished as
Exhibit 99.1 and incorporated herein by reference.

ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS

      (d)    EXHIBITS

             99.1 Press release dated as of August 1, 2006

<PAGE>

                                   SIGNATURES

            Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                      Educational Development Corporation


                                      By:  /s/ Randall W. White
                                           -------------------------------------
                                           Randall W. White
                                           President and Chief Executive Officer

Date: August 1, 2006

<PAGE>

                                  EXHIBIT INDEX

EXHIBIT
NUMBER      DESCRIPTION
- --------    ----------------------------------------
*99.1       Press release dated as of August 1, 2006

- ----------
*Filed herewith.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ed6617ex991.txt
<DESCRIPTION>EXHIBIT-99.1
<TEXT>
                                                                    Exhibit 99.1

     EDUCATIONAL DEVELOPMENT CORPORATION ANNOUNCES CANCELLATION OF MATERIAL
                              DEFINITIVE AGREEMENT

    TULSA, Okla., Aug. 1 /PRNewswire-FirstCall/ -- Randall White, CEO and
President of Educational Development Corporation (Nasdaq: EDUC) announces that
effective July 26, 2006, the Plan of Reorganization and Dip Financing
Agreement with Intervisual Books, Inc. located in Inglewood, California, that
the Company entered into on July 13, 2006, has been cancelled.

    Intervisual Books, Inc. was operating as a debtor-in-possession in a Chapter
11 bankruptcy case. On July 26, 2006, in the United States Bankruptcy Court in
Los Angeles, California, the court conducted an auction for the assets of
Intervisual Books, Inc. The Company was not the successful bidder in this
auction. However, the Company is actively pursuing other acquisition candidates
that would provide an operational and financial fit for the Company.

    Educational Development Corporation sells the Usborne line of children's
books through its multi-level sales organization, through 5,100 retail stores
and over the Internet. The Company offers over 1,400 different titles for
children of all ages.

SOURCE  Educational Development Corporation
    -0-                             08/01/2006
    /CONTACT:  Randall White, President of Educational Development
Corporation, +1-918-622-4522/
    /Web site:  http://www.edcpub.com /
    (EDUC)
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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