Laureate Education Extends Presence in Europe and Latin America Through Acquisitions in France and Peru.

BALTIMORE -- Laureate Education, Inc. (NASDAQ:LAUR), today announced the acquisition of an 80% interest in Universidad Peruana de Ciencias Aplicadas (UPC), an accredited university with two downtown campuses in Peru's most populated city, Lima. Laureate Education, Inc. also announced the signing of an agreement to acquire a 70% interest in Ecole Centrale des Techniques de l'Environnement Industriel (ECTEI), a French education company that manages Ecole Centrale d'Electronique (ECE), a leading engineering school in Paris, France.

Universidad Peruana de Ciencias Aplicadas

Founded in 1994, Universidad Peruana de Ciencias Aplicadas (www.upc.edu.pe) offers undergraduate and graduate programs in Business, Engineering, Law, Communications, and Architecture to approximately 4,500 students. UPC also provides programs in Engineering and Information Technology to more than 1,500 students through its technical/vocational institute, Cibertec. UPC serves Peru's rapidly growing population of 830,000 post-secondary students - a target market 60% larger than that of Chile, where Laureate has a significant presence. UPC is accredited at the highest level and is recognized as one of the most prestigious private universities in Peru.

"Peru's public university system faces challenges similar to those of other growing countries where the demand for higher education far exceeds available capacity. In Peru's public higher education system, only 17% of university applicants are accepted. Our mission is to help Peru expand the availability of higher education thus helping even more students achieve their career goals," stated William Dennis, President of Latin America Operations for Laureate.

Mr. Dennis added, "With a prestigious career-oriented curriculum, existing study abroad programs, and program lengths of three to five years, UPC is an exceptional complement to our existing network of institutions."

For the year ended December 31, 2003, UPC generated revenues of $24.1 million driven by enrollment of more than 5,000 students in 2003.

Ecole Centrale des Techniques de l'Environnement Industriel

Laureate Education, Inc. also announced today that it signed an agreement to acquire a 70% interest in Ecole Centrale des Techniques de l'Environnement Industriel, a French education company that manages Ecole Centrale d'Electronique (ECE) (www.ece.fr) as well as several smaller education entities.

ECE is accredited by the Commission des Titres d'Ingenieurs (the accrediting body of the French Ministry of Education for engineering schools) and is ranked among the leading private engineering schools, in France. The school is a member of the Conference des Grandes Ecoles, which is the association that represents the most prestigious engineering and business schools in France. Together, ECTEI and ECE serve approximately 1,350 students in the Paris metropolitan area, offering undergraduate and post-graduate degrees in Engineering, Information systems, Embedded Systems, and Telecommunications.

This is Laureate's second acquisition in France, following the 2001 acquisition of Ecole Superieure du Commerce Exterieur (ESCE), which offers undergraduate and graduate programs in International Business with approximately 1,200 students in Paris and Lyon.

"By creating a portfolio of established schools with attractive brands, along with a breadth of product lines, Laureate is establishing a strong platform to pursue both the traditional and working adult markets in France. We anticipate leveraging this platform to attract students from other countries to France. The addition of a Grande Ecole of Engineering to our worldwide network of universities, already the largest of its kind, is a fundamental and critical component in executing on our broader European strategy," said Raph Appadoo, President of Laureate.

For the fiscal year ended September 30, 2003, ECTEI and ECE generated revenues of approximately $8.2 million driven by enrollment of 1,190 students in 2003. This acquisition is expected to close on October 1, 2004.

Purchase Price

Total consideration paid for both the transaction in France and the transaction in Peru is $18.4 million in cash plus $2.9 million in notes payable.

2005 Outlook

Both acquisitions are expected to be accretive to Laureate Education's 2005 earnings. The earnings from these acquisitions replace a portion of the interest income previously contemplated in the Company's 2005 guidance related to the $55 million note receivable from Educate, Inc. that was recently prepaid.

Laureate Education reiterates both its 2004 guidance of $1.31 to $1.33 ($1.24 to $1.26 excluding the one time net gain from the repayment of the aforementioned note receivable) and its 2005 guidance of $1.60 to $1.65 per diluted share.

About Laureate Education, Inc.

Laureate Education Inc. (NASDAQ:LAUR) is focused exclusively on providing a superior university experience to over 137,000 students in eleven countries through the leading global network of accredited campus-based and online. Addressing the rapidly growing global demand for higher education, Laureate offers a broad range of career-oriented undergraduate and graduate programs through campus-based universities located in Latin America and Europe. Through online universities, Laureate offers the growing population of non-traditional, working-adult students the convenience and flexibility of distance learning to pursue undergraduate, master's and doctorate degree programs in major career fields including engineering, education, business, and healthcare.

Forward Looking Statements

This release includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, the Company's actual results could differ materially from those described in the forward-looking statements.

The following factors might cause such a difference:

--The Company's operations can be materially affected by competition in its target markets and by overall market conditions, among other factors.

--The Company's foreign operations, in particular, are subject to political, economic, legal, regulatory and currency-related risks.

Additional information regarding these risk factors and uncertainties is detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, our most recent Forms 10-K and 10-Q, available for viewing on our website. (To access this information on our website, please click on "Investor Relations," "SEC Filings")