In 1906, the people of Monaco signed a petition demonstrating their desire for a school where students could prepare for the baccalaureate examinations in the Principality.

With concern for the population’s wellbeing, Prince Albert I responded to the aspirations of Monegasques in 1910 by opting to refurbish the former Convent of the Visitation, built in 1663.

On 25 September 1910, a sovereign ordinance gave the Lycée in Monaco legal status. The school offered the same timetable and programmes as those in France. Primary and secondary classes were taught in the same building. The first academic year began on Tuesday 4 October 1910.

Originally for boys only, the Lycée began to offer a secondary education for young girls from 1918.

The school expanded rapidly in the 1920s, and clubs and associations were established. In 1922, the sports association gained official status, followed in 1924 by an alumnae association, the "Association des Anciens Élèves du Lycée". That same year, the first prize ceremony was held.

On 10 March 1935, the Lycée celebrated its 25th anniversary under the high patronage of Prince Louis II.

During the dark years of the Second World War, in spite of substantial shortages of equipment, the Lycée continued to operate normally and even established a preparatory class for advanced studies in mathematics so that pupils would not need to travel to France.

With the accession of Prince Rainier III, a new, modernising era began, marked in particular by the extension of the school building upwards.

In 1960, as part of its fiftieth anniversary celebrations, the school officially adopted the name Lycée Albert I as a tribute to its illustrious founder. That same year, a new library was opened. It was named the Prince Albert Library in honour of Hereditary Prince Albert.

The 1960s were also marked by the establishment of a chair in Russian in 1963 and a book fair to help families.

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