Apollo Group, Inc. Announces Dr. Jorge Klor de Alva has accepted the position of President and CEO of Apollo International 

Phoenix, Arizona, July 28, 2000 -- Apollo Group, Inc. (Nasdaq:APOL) announced today, that effective September 1, 2000, Dr. Jorge Klor de Alva, president of the University of Phoenix, has accepted the position of president and chief executive officer of Apollo International.  Apollo Group, Inc. owns a minority interest in Apollo International.

Dr. John G. Sperling, chairman and CEO of Apollo Group, commented, “Apollo is pleased that Dr. Klor de Alva has taken on the challenge at Apollo International. He has done an outstanding job as president of the University of Phoenix. As CEO of Apollo International, Dr. Klor de Alva will focus on extending Apollo International’s reach into Europe, Latin America, and Asia.”

Dr. Laura Palmer Noone, provost and senior vice president of the University of Phoenix, has been appointed acting president of the University. Dr. Noone began serving the University of Phoenix as a senior faculty member and has played a major role in its growth for the past 13 years, particularly in the development of the Online program. “We are pleased that Dr. Noone has accepted the position as acting president. She brings the experience and expertise that will allow the University to continue to expand. I am confident that Dr. Noone will ensure a smooth transition upon Jorge’s departure,” said Todd Nelson, Apollo Group’s president.

Apollo Group, Inc. has been providing higher education programs to working adults for over 25 years. Apollo Group, Inc., operates 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. The consolidated enrollment in its educational programs makes it the largest private institution of higher education in the United States. It offers educational programs and services at 52 campuses and 92 learning centers in 35 states, Puerto Rico and Vancouver, British Columbia. Combined degree enrollment was 94, 255 students as of May 31, 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.