inscribed in pencil l.r.BLACKMAN / 52 inscribed (diagonally) in black fibre-tipped pen on reverse u.l. 'THE EXCHANGE' / 1952 inscribed in black fibre-tipped pen on reverse u.c.l. 87 [encased in square]
The 'Exchange' shows the sharply delineated forms of two schoolgirls with raised arms. Their brown uniforms, consisting of long socks, pleated tunics, ties and hats, contrast to the predominantly pink and blue background of the schoolyard, where numerous diminutive schoolgirls are engaged in various activities.