Meritus University Programs Approved by New Brunswick Department
of Post-Secondary Education
PHOENIX--(BUSINESS WIRE)--May 13, 2008--Apollo Group, Inc.
(Nasdaq: APOL) ("Apollo Group," "Apollo" or "the Company") today
announced that it plans to establish a new Canadian institution, named
Meritus University ("Meritus" or "the University"). Following review
of program proposals by the Maritime Provinces Higher Education
Commission, Meritus University has received approval to offer its
first three programs from the New Brunswick Department of
Post-Secondary Education, Training and Labour, thereby establishing
degree-granting status. Meritus University will be based in
Fredericton, New Brunswick, offering complete degree programs online
to working professionals throughout Canada and abroad.
"We understand there is a value to Canadian education that
transcends Canadian borders," said Greg Cappelli, executive vice
president of global strategy for Apollo Group. "Meritus University's
mission is to meet Canada's growing demand for advanced education,
while making Canadian education, which is highly regarded
internationally, accessible worldwide."
Brian Mueller, president of Apollo Group, added, "With nearly a
decade of presence in Canada through Apollo's University of Phoenix,
Meritus University is delivering what Canadian students have been
telling us they want - academic programs that are competitively priced
and market relevant, taught by Canadian faculty who hold substantial
positions across a wide spectrum of Canadian industries. Meritus
University will reflect what Apollo's institutions are known for and
what Canadian students say their education should be -- mobile, global
and very effective."
New Brunswick is an attractive location because of its positive
regulatory and business environment. Building upon Apollo Group's
advanced student support systems and New Brunswick's highly skilled
labor pool, Meritus University is expected to be operational later
this year.
Minister of Business New Brunswick Greg Byrne said, "Meritus will
be a welcomed addition to the Fredericton business community. As we
chart the course toward self-sufficiency, we know how important it is
to create economic opportunities for the people of New Brunswick.
Being the home of one of the oldest public universities in North
America, and now the newest online degree-granting university in the
world, speaks volumes about the progressive business and education
environment in New Brunswick."
The three programs approved by the Department are the Master of
Business Administration, Bachelor of Business Administration and the
Bachelor of Information Technology Management. Meritus University will
not seek U.S. accreditation.
About Meritus University, Inc.
Meritus University, Inc. is a New Brunswick, Canada, corporation
and a wholly owned subsidiary of Apollo NB Holding Company, which in
turn is a wholly owned subsidiary of Apollo Group, Inc. Meritus
University's mission is to foster relevant and innovative learning
that meets the needs of diverse student populations, their employers
and communities. Adapting programs to an ever-changing world, Meritus'
educational philosophy facilitates critical thinking, collaboration
and leadership by integrating academic theory with best-practice
applications. The University is inclusive and provides access to
students beyond traditional classroom walls, while being respectful of
and responsive to diverse learning styles and cultures.
About Apollo Group, Inc.
Apollo Group, Inc. has been an education provider for more than 30
years, providing academic access and opportunity to students through
its University of Phoenix, Institute for Professional Development,
College for Financial Planning, Western International University,
Insight Schools and Apollo Global. It also owns Aptimus, a provider of
innovative digital media solutions. The Company's distinctive
educational programs and services are provided at the high school,
college and graduate levels in 40 states (as of February 29, 2008) and
the District of Columbia; Puerto Rico; Alberta and British Columbia,
Canada; Mexico and Chile; the Netherlands, as well as online
throughout the world.
For more information about Apollo Group, Inc. and its
subsidiaries, call (800) 990-APOL or visit the Company's website at
www.apollogrp.edu.
Forward-Looking Safe Harbor
Statements in this press release regarding Apollo Group's business
outlook, future financial and operating results, and overall future
prospects, are forward-looking statements, and are subject to the Safe
Harbor provisions created by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on current
information and expectations and involve a number of risks and
uncertainties. Actual results may differ materially from those
projected in such statements due to various factors. For a discussion
of the various factors that may cause actual results to differ
materially from those projected, please refer to the risk factors and
other disclosures contained in Apollo Group's previously filed Form
10-K, Forms 10-Q, and other filings with the Securities and Exchange
Commission.
CONTACT: Apollo Group, Inc.
Investor Relations:
Allyson Pooley, 312-660-2025
allyson.pooley@apollogrp.edu
U.S. Media:
Marla Sheiner, 602-557-1711
marla.sheiner@apollogrp.edu
or
Canadian Media:
Dicomm Media
Maggie Fairs, 800-613-5205
mfairs@dicommintl.com
or
Business New Brunswick
Ryan Donaghy, 506-453-2694
Ryan.Donaghy@gnb.ca
SOURCE: Apollo Group, Inc.
