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Apollo Group, Inc. Names Todd S. Nelson President

Phoenix, Arizona, February 17, 1998 -- Apollo Group, Inc. (Nasdaq:APOL) announced today the appointment of Todd S. Nelson to President. Mr. Nelson has been a key member of the Apollo Group management team for twelve years. Most recently, he held the post of Vice President of Apollo Group and Executive Vice President of the University of Phoenix. Dr. John G. Sperling will remain Chairman and Chief Executive Officer.
In addition, Dr. Jorge Klor de Alva has been appointed President of the University of Phoenix, filling the post previously held by Mr. William H. Gibbs. Dr. Jorge Klor de Alva has been affiliated with Apollo Group for seven years as a Board Member and, most recently, as Vice President of Business Development for the Company.
William H. Gibbs, who is stepping down from his role as President of the University of Phoenix, will continue to play a key role as a member of the Board of Directors and Senior Vice President of Apollo Group. Mr. Gibbs commented, "I believe that Todd Nelson is an excellent choice for President of Apollo and that he has the experience and knowledge to take Apollo to the next level. I look forward to continue working with him in the future."
Dr. Sperling commented, "I am pleased to announce these appointments. Both Todd Nelson and Jorge Klor de Alva have served Apollo well over the years and I am confident that they will both continue to contribute to the Company’s success and recognition as one of the leading providers of higher education and training in the U.S. and abroad."
Apollo also announced that James W. Hoggatt has resigned as Chief Financial Officer of the Company for personal reasons. Mr. Hoggatt will continue to work on special projects for Apollo Group through the end of October 1998. "Jim has been a strong contributor to Apollo and we thank him for his many years of service. We look forward to his assistance in this management transition over the coming months," Dr. Sperling added. Apollo is in discussions with a partner of a major accounting firm to fill the Chief Financial Officer post.
Apollo Group, Inc., through its subsidiaries the University of Phoenix, the Institute for Professional Development, the College for Financial Planning and Western International University, is one of the largest providers of higher education programs for working adults in the United States. Educational programs and services are offered at more than 100 campuses and learning centers in 31 states, Puerto Rico and London, England and world-wide through University of Phoenix’s and the College for Financial Planning’s distance education delivery systems.
For more information about Apollo Group, Inc. and its subsidiaries, call 1-800-990-APOL.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risk and uncertainties that could cause actual results to differ materially from the forward-looking statements.