Concorde Files Registration Statement.

Business Editors

MISSION, Kan.--(BUSINESS WIRE)--Jan. 2, 2003

Concorde Career Colleges, Inc. (Nasdaq:CCDC), a provider of career training in allied health programs, reported that it had filed an S-3 Registration Statement on January 2, 2003, with the Securities and Exchange Commission.

The purpose of the filing was to register 1,133,090 shares of common stock. Concorde will receive no funds as a result of the registration or subsequent distribution of common stock. Six hundred thousand (600,000) shares of the common stock are currently issued and outstanding. The issued shares are held by the Robert F. Brozman Trust (350,000 shares), Cahill, Warnock Strategic Partners Fund, L.P. (237,000 shares), and Strategic Associates, L.P. (13,000 shares). The remaining 533,090 shares relate to common shares that will be issued when the preferred stock is converted as discussed below. The shares may be sold from time to time by the stockholders. To obtain a copy of the S-3 Registration Statement, please contact Paul Gardner, Chief Financial Officer, Concorde Career Colleges, Inc., 5800 Foxridge Drive, Suite 500, Mission, Kansas 66202.

The Company entered into a Conversion and Exchange Agreement with Cahill, Warnock Strategic Partners Fund, L.P. and Strategic Associates, L.P. (the "Cahill Partners") on November 25, 2002, which provides that upon the second business day following the effectiveness of the S-3 Registration Statement (the "Conversion Date"), (i) the Cahill Partners will exchange their 53,309 shares of Class B Voting Convertible Preferred Stock for 533,090 shares of Common Stock and (ii) the Company will pay to the Cahill Partners an amount equal to $4.08 per share of the Class B Voting Convertible Preferred Stock to satisfy all dividend payments due for the last quarter of 2002 and all of 2003. The Conversion and Exchange Agreement also provides that the Company and the Cahill Partners will execute the Amended and Restated Stockholders' Agreement, dated as of November 25, 2002, which contains agreements pertaining to (i) the manner in which the Board of Directors of the Company is elected, (ii) restrictions on the transfer of shares of Common Stock, and (iii) the right of the Selling Stockholders to require the Company to again register their shares of Common Stock in the event the S-3 Registration Statement does not remain effective.

Concorde also announced that it decided not to proceed with the acquisition of North Texas Professional Career Institute ("NTCPI") of Dallas, Texas. Previously, Concorde had announced it had signed a letter of intent to purchase NTCPI.

Jack Brozman, President and CEO, said: "We believe the conversion of preferred stock will lead to additional trading of our common shares. We believe the current lack of availability of common stock to investors has depressed our stock price. We continue to look at acquisitions and the possibility of opening new campuses."

The S-3 Registration Statement discussed in this press release, which has been filed with the Securities and Exchange Commission, has not yet become effective. The common stock to be registered under the S-3 Registration Statement may not be sold nor may offers to buy be accepted prior to the time the S-3 Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of such common stock in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws under any such State.

Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the "safe-harbor" provisions of that act. Forward-looking statements regarding economic conditions, efforts of employees, year to year improvements, effects of corporate initiatives, future profitability, projections, future revenue opportunities, and their impact on 2002 are forward-looking statements and not historical facts. These statements are estimates or projections involving numerous risks or uncertainties, including but not limited to, consumer demand, acceptance of services offered by the Company, the Company's ability to maintain current expense and revenue levels, actions by competitors, impairment of federal funding, legislative action, student default rates, changes in federal or state authorization or accreditation changes, changes in market needs and technology, political or regulatory matters, litigation, general economic conditions, changes in management strategy and the Company's ability to leverage its curriculum and management infrastructure to build its student base. Actual results or events could differ materially from those discussed in the forward-looking statements. See the Company's reports on Forms S3, 14C, 10-K, 10-Q/A and 10-Q filed with the Securities and Exchange Commission for further information. The Company disclaims any obligation to publicly update, revise or correct any forward-looking statements, whether as a result of new information, future events or otherwise. To find out more about Concorde Career Colleges, Inc. (Nasdaq:CCDC), visit our website at www.concordecareercolleges.com.