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This report shares the findings of first round of the Learning and Educational Achievement in Punjab Schools (LEAPS) survey carried out in all the public and private schools offering primary level education in 112 villages of the province. This survey includes learning outcomes for 12,000 children in Class III in Urdu, English, and Mathematics together with detailed information on the beliefs and behavior of schools, teachers and parents. This large and independent exercise provides critical information on every aspect of the educational marketplace, including performance of all types of schools in select districts of the province. This report presents findings from the first round of the survey in 2003 along with trends for a few key outcomes between 2003 and 2007; a further report will incorporate all other information from the four rounds collected between 2003 and 2007.