Apollo Group Inc. Authorizes 3-For-2 Stock Split for APOL and 4-For-3 Stock Split for UOPX.Business Editors & Education Writers PHOENIX--(BUSINESS WIRE)--April 5, 2002 Apollo Group Apollo Group, Inc. NASDAQ: APOL is an S&P 500 corporation based in Phoenix, Arizona. Apollo Group, Inc., through its subsidiaries, provides higher education to working adults. Inc. has authorized a 3-for-2 stock split of its Class A and Class B common stock (Nasdaq:APOL APOL Asia Pacific Online APOL Alternate Person on Line ) and a 4-for-3 stock split of its University of Phoenix Online common stock (Nasdaq:UOPX UOPX University of Phoenix ). Both splits will be affected in the form of a stock dividend, which will be distributed on April 25, 2002 to shareholders of record at the close of business on April 15, 2002. The holders of the Class A and Class B common stock will receive a stock dividend at the rate of 1/2 shares of Class A common stock for each share of Class A or Class B common stock owned. Shareholders will not be entitled to receive any resulting fractional shares, but will receive the value of any such fractional shares in cash. As of March 31, 2002, Apollo Group Inc. had a total of 114,749,732 shares of Class A common stock outstanding and 483,534 of Class B common stock outstanding. The holders of the University of Phoenix Online common stock will receive a stock dividend at the rate of 1/3 shares of common stock for each share of common stock owned. Shareholders will not be entitled to receive any resulting fractional shares, but will receive the value of any such fractional shares in cash. As of March 31, 2002, Apollo Group Inc. had a total of 9,771,632 shares of University of Phoenix Online common stock outstanding. Apollo Group Inc. has been providing higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. programs to working adults for over 25 years. Apollo Group Inc., operates through its subsidiaries The University of Phoenix Inc., 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., 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 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. . It offers educational programs and services at 62 campuses and 110 learning centers in 37 states, Puerto Rico and Vancouver, British Columbia. Combined degree enrollment was 139,300 students as of Feb. 28, 2002. 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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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