Exhibit 99.1


                                         FOR:     SKILLSOFT PLC

                                                  COMPANY CONTACT:
                                                  Tom McDonald
                                                  Chief Financial Officer
                                                  (603) 324-3000, x4232

                                                  INVESTOR CONTACTS:
                                                  Michael Polyviou/Peter Schmidt
                                                  Financial Dynamics
                                                  (212) 850-5748

                    SKILLSOFT ANNOUNCES SETTLEMENT AGREEMENT
       AIG TO CONTRIBUTE $15 MILLION TOWARD SETTLEMENT OF 2002 SECURITIES
           CLASS ACTION, RELATED LITIGATION AND THE SEC INVESTIGATION

NASHUA, NH, JULY 5, 2005 - SkillSoft PLC (NASDAQ: SKIL), a leading provider of
content resources and complementary technologies for integrated enterprise
learning, today announced that it has concluded negotiations with its lead
director and officer insurance carrier, AIG, with respect to AIG's contribution
to the settlement of the 2002 securities class action lawsuit, the related
litigation and certain costs related to the SEC investigation. The parties have
entered into an agreement that provides for the payment by AIG to the Company of
$15 million in exchange for a release and other customary terms and conditions.
The Company anticipates receiving the payment by July 31, 2005. The Company
settled the 2002 securities class action in March 2004 for $30.5 million.

The Company is also continuing to work with its secondary director and officer
insurance providers, to bring to conclusion its negotiations with them.

ABOUT SKILLSOFT

SkillSoft is a leading provider of comprehensive e-learning content and
technology products for business and IT professionals within global enterprises.
SkillSoft's multi-modal learning solutions support and enhance the speed and
effectiveness of both formal and informal learning processes and integrate
SkillSoft's in-depth content resources, learning management system, virtual
classroom technology and support services.

This release includes information that constitutes forward-looking statements
made pursuant to the safe harbor provision of the Private Securities Litigation
Reform Act of 1995. Any such forward-looking statements involve risk and
uncertainties that could cause actual results to differ materially from those
indicated by such forward-looking statements. Factors that could cause or
contribute to such differences include competitive pressures, changes in
customer demands or industry standards, adverse economic conditions, loss of key
personnel, litigation and other risk factors disclosed under the heading
"Management's Discussion and Analysis of Financial Condition and Results of
Operations - Future Operating Results" in SkillSoft's Quarterly Report on Form
10-Q for the fiscal quarter ended April 30, 2005, as filed with the Securities
and Exchange Commission. The forward-looking statements provided by the Company
in this press release represent the Company's views as of July 5, 2005. The
Company anticipates that subsequent events and developments may cause the
Company's views to change. However, while the Company may elect to update these
forward-looking statements at some point in the future, the Company specifically
disclaims any obligation to do so. These forward-looking statements should not
be relied upon as representing the Company's views as of any date subsequent to
the date of this release.

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