Concorde Reports 2002 Results -- Revenue Increase of 25% and Earnings Increase of 159%.

Business Editors

MISSION, Kan.--(BUSINESS WIRE)--March 3, 2003

Concorde Career Colleges, Inc. (NASDAQ: CCDC), a provider of career training in allied health programs, today announced results for the year ended December 31, 2002. Total revenue increased 24.6% to $61.1 million. Revenue growth was fueled by 20% enrollment growth that resulted in net income of $4,234,000 or diluted earnings per share of $0.68 compared to $1,633,000 or diluted earnings per share of $0.28 in 2001.

Jack Brozman, President & CEO said, "Enrollment growth, student retention and our ability to leverage expenses exceeded our expectations and resulted in an outstanding fourth quarter and year."

A few highlights:

-- We purchased a new campus, Arlington, Texas, in August. The school's largest program is vocational nursing.

-- We added a practical nursing program in Kansas City, Missouri, raising the number of Concorde campuses with nursing programs to seven.

-- We received approval to begin practical nursing in Jacksonville, Florida, in 2003.

-- Operating margin was 11.0% compared to 5.1% in 2001.

-- Cash and temporary investments ended the year at $12,298,000.

-- Bank debt remains at zero and our $3,500,000 debt was converted to equity in early 2003, as discussed below.

We anticipate 2003 revenue in the range of $67 million to $69 million and diluted earnings per share of approximately $0.84 to $0.87 per share. We are reviewing expansion plans at several campuses. We moved one campus in February 2003 and will move two additional campuses to larger facilities later in 2003. We continue to look for new growth initiatives, focusing on acquisitions and expanding our clinical programs to existing campuses, particularly nursing.

Through a series of transactions we eliminated our $3,500,000 debt and converted all of the outstanding preferred stock in February 2003. These transactions strengthened our balance sheet by moving $3,500,000 into equity as the warrants attached to the debt were exercised. In addition, we eliminated all future preferred stock dividends. We now have approximately 5,850,000 shares of common stock issued and outstanding, no preferred stock and no debt.

Operating Results

Concorde's results for the quarter ended December 31, 2002 included the following:

-- Revenue was $15.8 million for the quarter ended December 31,

2002, an increase of 18.7% compared to $13.3 million for the

same period in 2001.

-- We received a $306,000 insurance settlement in the fourth

quarter due to damage at one of our campuses in 2000. This was

recorded as a reduction to operating expenses.

-- We paid a one-time special dividend of $174,000 as part of the

conversion of preferred stock, which reduced both basic and

diluted earnings per share.

-- Student enrollments were 1,644 for the quarter compared to

1,598 in 2001.

-- Average student population increased 17.2%.

-- Net income increased $583,000 to $1,067,000 compared to

$484,000 in 2001.

The results for the year ended December 31, 2002, included the following:

-- Revenue grew 24.6% to $61.1 million compared to $49.0

million in 2001.

-- Average student population increased 19.1% to 5,069 in 2002

compared with 4,257 in 2001.

-- Student population was 5,056 at December 31, 2002, compared to

4,269 at December 31, 2001.

-- Student enrollments increased 20.2% to 8,510 for the year

ended December 31, 2002, compared to 7,080 in 2001.

-- Revenue increased 24.6% or $12,063,000 to $61,112,000 for the

year ended December 31, 2002, compared to $49,049,000 in 2001.

The revenue increased due to higher student enrollments,

increased average student population and a small price

increase.

-- Net income was $4,234,000 for the year ended December 31, 2002

compared to $1,633,000 in 2001. We received an insurance

settlement of $306,000 for damages done to a campus in 2000.

The settlement was recorded as a reduction of expenses in the

fourth quarter of 2002.

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 2003 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 14C, 10-K 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.

                    Concorde Career Colleges, Inc.

Quarters Ended December 31, 2002 and 2001        2002         2001
                                             ------------ ------------
Revenue                                      $15,774,000  $13,291,000

Instruction costs and services                 4,894,000    4,577,000
Selling and promotional                        2,177,000    1,927,000
General and administrative                     6,179,000    5,170,000
Provision for uncollectible accounts             805,000      794,000
                                             ------------ ------------
Total operating expense                       14,055,000   12,468,000
                                             ------------ ------------
Operating income                               1,719,000      823,000
Non-operating income and interest, net            20,000        7,000
Provision for income taxes                       672,000      346,000
                                             ------------ ------------
Net income                                     1,067,000      484,000
                                             ============ ============

Basic income per share(a)                          $0.18        $0.11
Basic weighted average shares                  4,557,000    3,975,000

Diluted income per share(b)                        $0.15        $0.08
Diluted weighted average shares                6,226,000    6,103,000


Year Ended December 31, 2002 and 2001            2002         2001
                                             ------------ ------------
Revenue                                      $61,112,000  $49,049,000

Instruction costs and services                18,709,000   17,330,000
Selling and promotional                        8,390,000    7,769,000
General and administrative                    23,871,000   19,104,000
Provision for uncollectible accounts           3,442,000    2,359,000
                                             ------------ ------------
Total operating expense                       54,412,000   46,562,000
                                             ------------ ------------
Operating income                               6,700,000    2,487,000
Non-operating income and interest, net            55,000      260,000
Provision for income taxes                     2,521,000    1,114,000
                                             ------------ ------------
Net income                                     4,234,000    1,633,000
                                             ============ ============

Basic income per share(c)                          $0.85        $0.36
Basic weighted average shares                  4,533,000    3,940,000

Diluted income per share(d)                        $0.68        $0.28
Diluted weighted average shares                6,142,000    5,473,000


(a) Basic income per share is shown after a reduction of
preferred stock dividends accretion of $53,000 and $54,000 for the
quarters ended December 31, 2002 and 2001, respectively. In addition,
basic income per share is shown after the special dividend payment of
$174,000 in 2002 to Cahill-Warnock.

(b) Diluted income per share is shown after addition of
interest on convertible debt, net of tax of $27,000 in 2002 and 2001.
In addition, diluted income per share is shown after the special
dividend payment of $174,000 in 2002 to Cahill-Warnock.

(c) Basic income per share is shown after a reduction of
preferred stock dividends accretion of $214,000 and $226,000 for the
year ended December 31, 2002 and 2001, respectively. In addition,
basic income per share is shown after the special dividend payment of
$174,000 in 2002 to Cahill-Warnock.

(d) Diluted income per share is shown after addition of
interest on convertible debt, net of tax of $108,000 in 2002 and
$105,000 in 2001 and after reduction for preferred stock dividend
accretion of $226,000 in 2001. In addition, diluted income per share
is shown after the special dividend payment of $174,000 in 2002 to
Cahill-Warnock.

                    Concorde Career Colleges, Inc.
                  Condensed Balance Sheet Information

                                             December 31, December 31,
                                                 2002         2001
                                             ------------ ------------
Cash and short term investments               12,298,000    9,739,000
Accounts receivable, net                      19,608,000   16,534,000
Other current assets                           3,184,000    2,081,000
                                             ------------ ------------
Total current assets                          35,090,000   28,354,000

Fixed assets, net                              3,541,000    2,625,000
Other long term assets                         1,420,000      721,000
                                             ------------ ------------
Total assets                                  40,051,000   31,700,000
                                             ============ ============

Deferred revenue                              20,996,000   17,378,000
Subordinated debt, short-term                  3,500,000
Other current liabilities                      5,408,000    4,636,000
                                             ------------ ------------
Total current liabilities                     29,904,000   22,014,000

Other long term liabilities                      157,000
Subordinated debt, long-term                                3,500,000

Stockholders' Equity                           9,990,000    6,186,000
                                             ------------ ------------
Total liabilities and Stock holders' Equity   40,051,000   31,700,000
                                             ============ ============