Corinthian Colleges Announces the Opening of a New College in Chesapeake, Va.

SANTA ANA, Calif.--(BUSINESS WIRE)--March 8, 1999--Corinthian Colleges Inc. (Nasdaq:COCO) Monday announced that it will open a Kee Business College in Chesapeake, Va.

The Chesapeake location is an addition to Corinthian's first Kee business campus in Newport News, Va.

The new college plans to commence classes on March 25, 1999. Corinthian has received Virginia state approval for a license to operate and national accreditation from the Accrediting Council of Independent Colleges and Schools.

"We selected a strategic location for the new campus and have received both state and accreditation approval, which will allow us to begin classes on schedule," said David G. Moore, president and chief executive officer.

The company believes that the location offers high enrollment potential and significant placement opportunities. Paul St. Pierre, vice president of marketing, said, "We believe Chesapeake is in a key and untapped market that will be able to effectively leverage our existing curriculum, management and marketing infrastructure to build our student base."

Kee will offer 8- to 10-month diploma-granting programs in Medical Assisting, Dental Assisting, Medical Administrative Assisting and Computer Office Applications. The new campus, located at 825 Greenbrier Circle, offers a modern facility with 14,400 square feet, containing eight classrooms, administrative offices, library and a student lounge. Kee will offer a flexible class schedule to adhere to the busy schedules of its numerous working students.

Corinthian Colleges is one of the largest private, for-profit post-secondary education companies in the United States, operating 36 colleges in 16 states, including nine in California and eight in Florida. Corinthian services the large and growing segment of the population seeking to acquire career-oriented education to become more qualified and marketable in today's increasingly demanding workplace environment.

Certain statements in this news release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995, and the company intends that such statements be subject to the "safe-harbor" provisions of that act. Such statements include, but are not limited to, the company's belief that (i) classes at its new school will begin on schedule, (ii) the new location offers high enrollment potential, and (iii) the company will be able to leverage its curriculum, management and marketing infrastructure to build its student base. There are many important factors that could cause the company's actual results to differ materially from those discussed in the forward-looking statements, including changes in student perceptions, increased competition, the effectiveness of the company's advertising and promotional efforts and the other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.