Apollo Group, Inc. Announces the Expansion of IPD Into Delaware, Opens Five New University of Phoenix Learning Centers

Phoenix, Arizona, February 23, 1998 -- Apollo Group, Inc. (Nasdaq:APOL) today announced that its wholly-owned subsidiary, the Institute for Professional Development (IPD) has entered into a 10-year agreement to provide program development and management services to Wesley College, located in Dover, Delaware. Associates and Undergraduate degree programs will be offered initially, with Graduate programs to follow. The programs will be offered in the Dover and Wilmington areas. Apollo also announced the opening of five new University of Phoenix (University of Phoenix) learning centers in Tempe, Arizona; Mililani, Hawaii; Reno, Nevada; Beale AFB and Oxnard, both in California.

Dr. John G. Sperling, Chairman and CEO commented, "We are very pleased with these new University of Phoenix learning center openings in existing markets and with our new partnership with Wesley College. We view this partnership as another important achievement in our domestic expansion strategy. IPD has assisted private colleges and universities in offering degree programs and related services designed specifically for working professionals since 1973. With its 19 contracts, IPD continues to be a leader in higher education services for U.S. colleges and universities."

Apollo Group, Inc., through its subsidiaries the University of Phoenix, the Institute for Professional Development, the College for Financial Planning and Western International University, is one of the largest providers of higher education programs for working adults in the United States. Educational programs and services are offered at more than 100 campuses and learning centers in 32 states, Puerto Rico and London, England and world-wide through University of Phoenix’s and the College for Financial Planning’s distance education delivery systems.

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.