Apollo Group, Inc.'s University of Phoenix Reports 23% Increase in Degree Enrollments

Phoenix, Arizona, December 14, 1999 -- Apollo Group, Inc. (Nasdaq:APOL) today reported that at November 30, 1999 there were 68,597 students enrolled in degree programs at its wholly owned subsidiary, the University of Phoenix, representing a 23% increase over the prior year.  Apollo Group, Inc.’s total degree student enrollment at November 30, 1999 was 87,255 compared to 73,019 students enrolled in degree programs at November 30, 1998 representing a 20% increase in degree enrollments. 

University of Phoenix campuses established prior to fiscal 1995 grew 16% to 56,495 degree-enrolled students at November 30, 1999 compared to 48,689 degree-enrolled students at November 30, 1998. The University of Phoenix’s Online campus grew 43% to 11,069 degree-enrolled students at November 30, 1999 compared to 7,729 degree enrolled students at November 30, 1998.

The University of Phoenix is currently seeking licensure in Texas, as a result Apollo Group, Inc. chose not to renew the Institute for Professional Development’s contract with LeTourneau University in Dallas, Texas which ended on September 1, 1999.

Dr. John G. Sperling, Chairman of the Board and CEO, said, "We continue to be pleased with our increase in degree-enrolled students at our University of Phoenix campuses.  Enrollment growth will continue to be fueled by our commitment to providing a relevant education to working adults, introduction of new programs and expansion into new markets. During the first quarter of fiscal year 2000, the University of Phoenix opened a new campus in Philadelphia, Pennsylvania and re-designated its Colorado Springs, Colorado Learning Center to the Southern Colorado Campus. Additionally, the Institute for Professional Development entered into a new contract with Aquinas College in Nashville, Tennessee."

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 one of the largest providers of higher education programs for working adults in the United States, with total degree-seeking enrollment of 87,255 students. Educational programs and services are currently offered at 52 campuses and 85 learning centers in 35 states, Puerto Rico and Vancouver, Canada.

For more information about Apollo Group, Inc. and its subsidiaries, call 1-800-990-APOL.

Apollo Group, Inc. and Subsidiaries Degree and Non-degree Enrollments

*Excludes 1,494 degree enrollments at LeTourneau University

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.