Career Education Corporation Comments on ''60 Minutes'' Story.

HOFFMAN ESTATES, Ill. -- Career Education Corporation (Nasdaq:CECO) is committed to delivering high quality, career-focused learning to the nearly one hundred thousand men and women who are enrolled in our 82 schools, colleges and institutes. We are disappointed that the CBS television show "60 Minutes" has opted to paint us -- and by extension the for-profit education industry -- with a broad brush based on a few allegations by primarily former employees.

We have built our reputation through adhering to good business practices, setting clear values and acting with integrity. Our report card is a simple one: we are measured by the quality of the education we provide and the success of the students and graduates of the CEC schools. And we are proud of that report card. Our graduates and the companies who hire them clearly value the education of CEC schools.

Our success cannot be maintained in any manner other than through a strict focus on integrity and quality. CEC has a clear practice that when allegations of misconduct are made, they are immediately and vigorously investigated and appropriate action is taken.

"I want to personally assure every student, faculty and staff member at each of our schools and the employers and communities they serve that CEC has just one overriding commitment: providing our students with the quality education and training they demand and deserve," concluded John M. Larson, Chairman, President, and Chief Executive Officer of Career Education Corporation.

Career Education Corporation (www.careered.com) is the world's largest on-campus provider of private, for-profit postsecondary education and has a rapidly-growing presence in online education. CEC's Colleges, Schools and Universities Group operates 82 campuses in the U.S., Canada, France, the United Kingdom and the United Arab Emirates and offers doctoral degree, master's degree, bachelor's degree, associate degree and diploma programs in the career-oriented disciplines of visual communication and design technologies, information technology, business studies, culinary arts and health education. The Online Education Group operates American InterContinental University Online and Colorado Technical University Online and offers a variety of degrees in information technology, business, visual communication and education. CEC's total student population on October 31, 2004 was approximately 97,300 students.

Except for the historical and present factual information contained herein, the matters set forth in this release, including statements under "Business Outlook" and statements identified by words such as "anticipates," "expects," "projects," "plans," "will," and similar expressions, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on information currently available to us and involve risks and uncertainties that could cause our actual growth, results, performance and business prospects and opportunities to differ materially from those expressed in, or implied by these statements. These risks and uncertainties, the outcome of which could materially and adversely affect our financial condition and operations, include, but are not limited to: risks related to our ability to comply with, and the impact of changes in, legislation and regulations that affect our ability to participate in student financial aid programs; costs, risks and effects of legal and administrative proceedings and investigations and governmental regulations, including the pending Securities and Exchange Commission and Justice Department investigations and, class action, derivative, Qui Tam, and other lawsuits; cost and potential impact of findings by the special committee of our Board of Directors that is investigating allegations of securities laws violations against CEC; risks related to our ability to comply with regulatory agency requirements or obtain regulatory agency approvals; costs and difficulties related to the integration of acquired businesses; future financial and operational results; competition; general economic conditions; ability to manage and continue growth; and other risk factors relating to our industry and business, as detailed in our Annual Report on Form 10-K for the year ended December 31, 2003, and from time to time in our other reports filed with the SEC. We disclaim any responsibility to update these forward-looking statements.