Apollo Group, Inc. Announces Expansion Into TexasPhoenix, Arizona, May 1, 2000 -- Apollo Group, Inc. (Nasdaq:APOL) today announced that its wholly owned subsidiary, the University of Phoenix, has received state approval to offer postsecondary education in Texas. Upon approval from our accrediting body, the North Central Association of Colleges and Schools and site approval from the State, we anticipate enrolling students at our first location in the Houston area. Dr. John G. Sperling, Chairman and CEO commented, “We are very excited about the institutions approval in Texas. The demographics of the State of Texas for adult education are very attractive. Recent studies report that less than 25% of the Texas population over 25 years of age have earned a Bachelors degree or higher, statistically making Texas one of the largest markets for adult education.” Apollo Group, Inc., through its subsidiaries the University of Phoenix, Inc., the Institute for Professional Development, the College for Financial Planning Institutes Corporation, Western International University, Inc. and Apollo Learning Group, Inc., is a leading provider of higher education programs for working adults based on the number of working adults enrolled in its programs. The consolidated enrollment in our educational programs would make us the largest private institution of higher education in the United States. We currently offer our educational programs and services at 52 campuses and 89 learning centers in 35 states, Puerto Rico and Vancouver, British Columbia. Our combined degree enrollment was 94,046 students at February 29, 2000. For more information about Apollo Group, Inc. and its subsidiaries, call 1-800-990-APOL. This press release includes statements, which may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risk and uncertainties that could cause actual results to differ materially from the forward-looking statements.
|