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08-06-2009 09:01:00

Apollo Global Agrees to Acquire UK-based BPP Holdings plc

Apollo Group, Inc. (Nasdaq: APOL) (“Apollo Group” or “the Company”)

today announced that its 80.1%-owned subsidiary Apollo Global, Inc. has

agreed to acquire UK-based BPP Holdings plc (“BPP”) (LSE:BPP), a leading

provider of education and training to professionals in the legal and

finance industries. Apollo Global has agreed to purchase all of the

outstanding shares of BPP at 620 pence per share in cash, representing

an enterprise value of approximately $540 million. The transaction is

structured as a court-sanctioned acquisition arrangement under the laws

of the UK and is subject to court, shareholder and regulatory approval

and other customary closing conditions. The transaction, if approved, is

expected to close during Apollo Group’s fiscal fourth quarter. The

transaction terms and structure are described in more detail in a Form

8-K filed by Apollo Group today with the Securities and Exchange

Commission, which includes a copy of the announcement released in the UK

today by Apollo Global pursuant to applicable UK law.

The acquisition will provide Apollo Global with access to lifelong

learning programs in the UK’s professional education sector, establish a

significant UK and pan-European platform, and expand the range of

advanced degrees and cross border educational opportunities available to

its students.

“We’re thrilled to be joining forces with this outstanding educational

institution in the UK,” said Greg Cappelli, co-chief executive officer

of Apollo Group and chairman of Apollo Global. “The combination of our

brands, educational offerings and technological capabilities will

provide greater opportunities for students and employees of both

institutions. We look forward to working together and building upon the

success of this world class organization.”

"The offer provides an excellent opportunity for all of our

stakeholders,” said David Sugden, chairman of BPP Holdings. “For

shareholders, it presents an opportunity to realize an attractive

premium in cash for their shares. For our employees, it allows them to

continue their excellent work in making BPP a leading education

provider. For our customers, they will see our educational products

enhanced by the expertise that Apollo will provide.”

Founded in 1976 and based in London, England, BPP enjoys an excellent

reputation among business and legal communities throughout Europe. The

institution is organized into three business divisions: (1) Professional

Education, which provides certification and continuing education; (2)

College of Professional Studies, which operates four law schools, human

resource training and a business school; and (3) Mander Portman Woodward

(MPW), which operates independent fifth and sixth form colleges (similar

to preparatory schools in the US). BPP is the first private sector

institution to have been granted degree awarding powers in the UK.

“The UK is a large and growing market with strong student participation

rates and an increasing interest in online learning,” added Mr.

Cappelli. “Furthermore, the UK has a tremendous international reputation

for higher education and is the second largest market in the world for

international students pursuing degrees. We believe this is an excellent

market and company from which to establish our European base.”

BPP’s focus on academic quality and student outcomes has allowed it to

maintain a high quality reputation amongst employers and consumers. The

company’s professional education business, fifth and sixth form

colleges, law school and the recently established business school are

all well positioned to take advantage of the opportunities provided in

the market.

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

subsidiaries, University of Phoenix, Institute for Professional

Development, College for Financial Planning, Western International

University, Meritus University, Insight Schools and Apollo Global. The

Company's distinctive educational programs and services are provided at

the high school, undergraduate, graduate and doctoral levels in 40

states and the District of Columbia; Puerto Rico; Canada; Mexico; Chile;

and the Netherlands, as well as online throughout the world (data as of

February 28, 2009).

For more information about Apollo Group, Inc. and its subsidiaries, call

(800) 990-APOL or visit the Company’s website at www.apollogrp.edu.

About Apollo Global, Inc.

Apollo Global, Inc., a $1 billion joint venture formed in 2007, is 80.1%

owned by Apollo Group, Inc. and 19.9% owned by private equity firm, The

Carlyle Group. Apollo Global was formed with the intention of making a

range of investments in the international education services sector.

Apollo Global is a consolidated subsidiary of Apollo Group, Inc.

About BPP Holdings plc

BPP is a leader in the provision of professional education and training,

and developing careers by helping people to attain and build on

professional qualifications. BPP provides its training and professional

education through three separate operating divisions: BPP Professional

Education, BPP College of Professional Studies and Mander Portman

Woodward (premium independent fifth and sixth form colleges). In 2007

BPP College of Professional Studies was granted degree awarding powers.

Forward-Looking Safe Harbor

Statements in this press release regarding Apollo Group’s business

outlook, future financial and operating results, future enrollment, and

overall future strategy and plans, 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.

Investor Relations Contact:

Apollo Group, Inc.

Allyson

Pooley, 312-660-2025

allyson.pooley@apollogrp.edu

or

Media

Contact:

Mercury Public Affairs

Sara Jones, 818-326-1871

sjones@mercuryllc.com

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