Lerach Coughlin Stoia Geller Rudman & Robbins LLP Files Class Action Suit Against EVCI Career Colleges Holding Corp.

SAN DIEGO -- Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") (http://www.lerachlaw.com/cases/evci/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of EVCI Career Colleges Holding Corp. ("EVCI") (NASDAQ:EVCI) common stock during the period between August 14, 2003 and December 5, 2005 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from December 8, 2005. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach or Darren Robbins of Lerach Coughlin at 800-449-4900 or 619-231-1058, or via e-mail at [e-mail]. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/evci/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges EVCI and certain of its officers and directors with violations of the Securities Exchange Act of 1934. EVCI through its subsidiary, Interboro Institute, Inc. ("Interboro"), provides on-campus career college education.

The complaint alleges that during the Class Period, defendants issued a series of materially false and misleading statements regarding the Company's earnings and enrollment growth. On October 19, 2005, EVCI disclosed that it had received a draft report from the New York State Education Department ("NYSED") concerning whether Interboro was in compliance with the applicable rules and regulations governing degree-granting institutions. The report followed the Company's application for approval to use its Yonkers site as an extension center and due to the Company's growth in enrollment. As a result of the October 19, 2005 announcement, the Company's stock price fell $3.08, or 56%, to close at $2.45.

Then, on the morning of December 6, 2005, the NYSED final report was published revealing that a Company employee had advised an undercover agent to falsify income for purposes of qualifying for financial aid, that the school changed answers on a federally approved exam to receive financial aid, and that during a test, Company employees left test booklets with indications as to the proper answers while a proctor left a testing room for the students to obtain the answers in his absence. Finally, the NYSED report denied extension center status for Interboro's Yonkers site and instead required Interboro to reduce the enrollment at all sites, thereby preventing the Company from increasing its enrollment or achieving earlier-stated projections. As a result of the December 6, 2005 announcement, including the revelations above, the Company's stock plummeted another 30% to close at $1.80 per share.

Plaintiff seeks to recover damages on behalf of all purchasers of EVCI common stock during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Lerach Coughlin, a 160-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.