Financial Astrology of Apollo Group, Inc.

FINANCIAL ASTROLOGY

First Trade Date for Apollo Group, Inc.

Company Name	First Trade Date (yyyy-mm-dd)
Apollo Group, Inc.	1994-12-06

Company Name	Symbol
Apollo Group, Inc.	APOL
History and Business of Company (this information may include date of incorporation)
Apollo Group, Inc. has been providing higher education to working adults for over 25 years. We operate through our subsidiaries, The University of Phoenix, Inc., Institute for Professional Development, The College for Financial Planning Institutes Corporation, and Western International University, Inc. The consolidated enrollment in our educational programs would make us the largest private institution of higher education in the United States. We currently offer our programs and services at 71 campuses and 121 learning centers in 37 states, Puerto Rico, and Vancouver, British Columbia. Our combined degree enrollment increased to approximately 200,100 at August 31, 2003 from approximately 86,800 at August 31, 1999. University of Phoenix had degree enrollments of approximately 174,900 adult students at August 31, 2003, is accredited by The Higher Learning Commission, and has been a member of the North Central Association of Colleges and Schools since 1978. University of Phoenix has successfully replicated its teaching/learning model while maintaining educational quality at 46 physical campuses and 87 learning centers in Arizona, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Puerto Rico, and Vancouver, British Columbia. University of Phoenix also offers its educational programs worldwide through University of Phoenix Online, its computerized educational delivery system. University of Phoenix has customized computer programs for student tracking, marketing, faculty recruitment and training, and academic quality management. These computer programs are intended to provide uniformity among University of Phoenix's campuses and learning centers which enhances University of Phoenix's ability to expand into new markets while still maintaining academic quality. Currently, approximately 50% of University of Phoenix's students receive some level of tuition assistance from their employers. Institute for Professional Development provides program development and management consulting services to regionally accredited private colleges and universities (client institutions) who are interested in expanding or developing their programs for working adults. These services typically include degree program design, curriculum development, market research, student recruitment, and performing accounting and administrative services. Institute for Professional Development provides these services to regionally accredited private colleges and universities at 22 campuses and 31 learning centers in 22 states in exchange for a contractual share of the tuition revenues generated from these programs. Institute for Professional Development's contracts with its client institutions generally range in length from five to ten years with provisions for renewal. Institute for Professional Development places a priority on institutions that: • are interested in developing or expanding off-campus degree programs for working adults; • recognize that working adults require a different teaching/ learning model than the 18 to 24 year old student; • desire to increase enrollments with a limited investment in institutional capital; and • recognize the unmet educational needs of the working adult students in their market. Approximately 22,300 degree-seeking students are currently enrolled in Institute for Professional Development assisted programs. The College for Financial Planning provides financial planning education programs, including the Certified Financial Planner Professional Education Program. The College for Financial Planning also offers some of its non-degree programs at University of Phoenix campuses. Western International University currently offers graduate and undergraduate degree programs to approximately 2,000 students in Phoenix, Chandler, Scottsdale, and Fort Huachuca, Arizona. We incorporated in Arizona in 1981 and maintain our principal executive offices at 4615 East Elwood Street, Phoenix, Arizona 85040. Our telephone number is (480) 966-5394. Our Internet Web Site addresses are as follows: • Apollo Group http://www.apollogrp.edu • University of Phoenix http://www.phoenix.edu • University of Phoenix Online http://www.uopxonline.com • Institute for Professional Development http://www.ipd.org • Western International University http://www.wintu.edu • College for Financial Planning http://www.fp.edu Our fiscal year is from September 1 to August 31. Unless otherwise stated, references to the years 2003, 2002, and 2001 relate to the fiscal years ended August 31, 2003, 2002, and 2001, respectively.

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