8-K

                                  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): May 7, 2003

                       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)



ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

      (c) EXHIBITS

            99.1 Press release dated as of May 7, 2003

ITEM 9. REGULATION FD DISCLOSURE

      In  accordance  with General  Instruction  B.2. of Form 8-K, the following
information and the exhibits  referenced therein shall not be deemed "filed" for
purposes of Section 18 of the Securities  Exchange Act of 1934, as amended,  nor
shall it or they be deemed  incorporated  by  reference  in any filing under the
Securities Act of 1933, as amended.

      On May 7, 2003, Educational Development  Corporation,  announced via press
release its record third  largest  sales month.  A copy of the press  release is
attached hereto.



                                   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, thereunto duly authorized.

      Educational Development Corporation

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

Date: May 7, 2003



                                  EXHIBIT INDEX

EXHIBIT
NUMBER            DESCRIPTION
- ------            -----------
*99.1             Press release dated as of May 7, 2003

- ----------
*Filed herewith.

EX-99.1

EXHIBIT 99.1

      EDUCATIONAL DEVELOPMENT RECORDS THIRD LARGEST SALES MONTH

      TULSA, Okla -- May 7, 2003 -- Educational Development Corporation (NASDAQ:
      EDUC)  reported today that net sales for the month of April 2003 were $2.6
      million,  the largest April in the Company's history and the third highest
      overall  month in the Company's  history,  and were up 29% over April last
      year.

      The Home  Business  Division led the way with an increase of 38% over last
      April.  This division has recorded sales  increases every month since July
      2001,  a  string  of  34  consecutive  months.  Recruiting  of  new  sales
      consultants  increased  140% over  April of last year and was the  highest
      recruiting month in the Company's history.

      The  Publishing  Division,  which sells  primarily to trade and  wholesale
      distribution   companies,   is  also  performing  well  with  April  sales
      increasing 9.7% over last year.

      Educational  Development  Corporation sells the Usborne line of children's
      books through its  multi-level  sales  organization,  through 6,000 retail
      stores and over the  Internet.  The Company  offers  over 1,300  different
      titles for children of all ages.

      Contact:
         Educational Development Corporation
         Randall White, 918/622-4522