Apollo Group Inc. Announces Expansion Into Texas.Business Editors PHOENIX--(BUSINESS WIRE)--May 1, 2000 Apollo Group Inc. (Nasdaq: APOL APOL Asia Pacific Online APOL Alternate Person on Line ) Monday announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , 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 The North Central Association of Colleges and Schools (NCA) is one of six regional accreditation organizations recognized by the United States Department of Education and Council for Higher Education Accreditation. and site approval from the state, we anticipate enrolling students at our first location in the Houston area. Dr. John G. Sperling, chairman and chief executive officer commented, "We are very excited about the institution's approval in Texas. The demographics of the State of Texas for adult education are very attractive. "Recent studies report that less than 25 percent of the Texas population over 25 years of age have earned a bachelor's degree or higher Bachelor's degree or higher is a commonly used term by the US Census Bureau and other United States government agencies on the federal as well as state and local level. The term describes the portion of the population that has either a Bachelor's degree or a higher degree such as , 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 Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against Institutes Corp., 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 Higher education in the United States refers to colleges and universities within the United States. Overview The American university system, like the American educational system in general, is highly decentralized because the U.S. . 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 Feb. 29, 2000. For more information about Apollo Group Inc. and its subsidiaries, call 800/990-APOL or visit Apollo on the World Wide Web at http://www.apollogrp.edu. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. This information may involve risk and uncertainties that could cause actual results to differ materially from the forward-looking statements. |
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