APOL Apollo Education Grp., Inc.

Apollo Group Inc. (Nasdaq:APOL) today provided preliminary results for the second quarter ending Feb. 28, 2006. Preliminary Results These anticipated results are preliminary and based on partial information and management assumptions. -- We expect revenue for the quarter ending Feb. 28, 2006, to be approximately $570 million. -- Diluted earnings per share are expected to be between $.43 and $.44 for the quarter ending Feb. 28, 2006. The company will release fiscal second quarter earnings on March 23, 2006. Business Outlook We are suspending fiscal 2006 revenue and earnings guidance previously provided. The company will hold a conference call to discuss these preliminary results at 8:30 a.m. Phoenix time (10:30 a.m. Eastern) on Tuesday, Feb. 28, 2006. The call may be accessed by dialing 877-292-6888 (domestic) or 706-634-1393 (international). The conference ID number is 6057706. A live webcast of this event may be accessed by visiting the company Web site at www.apollogrp.edu. A replay of the call will be available on our Web site or at 706-645-9291 (conf. ID #6057706) until March 17, 2006. Apollo Group Inc. has been providing higher education programs to working adults for almost 30 years. Apollo Group Inc. operates through its subsidiaries: The University of Phoenix Inc., Institute for Professional Development, The College for Financial Planning Institutes Corp., and Western International University 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 95 campuses and 153 learning centers in 39 states, Puerto Rico, Alberta, British Columbia, the Netherlands and Mexico. For more information about Apollo Group Inc. and its subsidiaries, call 800-990-APOL or visit Apollo on the company Web site at: www.apollogrp.edu. This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Apollo Group Inc. claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release relate, among other matters, to the business outlook of Apollo Group Inc. Forward-looking statements involve risks, uncertainties, and other factors which may cause actual results, performance, or achievements of Apollo Group Inc. to be materially different from those expressed or implied by such forward-looking statements. Factors that could affect Apollo Group Inc.'s results and cause them to materially differ from those contained in the forward-looking statements include, without limitation: -- the failure to maintain or renew required regulatory approvals, accreditation, or state authorizations; -- the failure to obtain authorizations from states in which University of Phoenix does not currently provide degree programs; -- the failure to obtain the Higher Learning Commission's approval for University of Phoenix to operate in new states; -- our ability to continue to attract and retain students; -- our ability to successfully manage economic conditions, including stock market volatility; -- risk factors and cautionary statements made in Apollo Group Inc.'s Annual Report on Form 10-K for the period ended Aug. 31, 2005; and -- other factors that Apollo Group Inc. is currently unable to identify or quantify, but may arise or become known in the future. These forward-looking statements are based on estimates, projections, beliefs, and assumptions of Apollo Group Inc. and its management, and speak only as of the date made and are not guarantees of future performance. Apollo Group Inc. undertakes no obligation to publicly update or revise any forward-looking statements, or any facts, events, or circumstances after the date hereof that may bear upon forward-looking statements. You are advised, however, to consult any further disclosures Apollo Group Inc. makes in its reports filed with the Securities and Exchange Commission.