1. Online Education Group Career Education Corporation

2. Nick Fluge President, CEC Online Education Group Steve Fireng First Vice President, Marketing and Admissions Jeremy Wheaton Vice President, Operations Paul Gleason Vice President, Education and Development Dr. Robin Throne Vice President, Regulatory Policy & Governmental Affairs Kevin Klosowski Chief Business Officer John Morton Director of Information Technology

3. Online Marketplace ► Unlimited Opportunity ► Education on Demand ► Scalable ► Student-Focused Technology

4. AIU Online Strategies ► ► Associate, Bachelor, Master   IT, Business, VisCom & Education ► ► Marketing ► ► Innovation and Technology ► ► Customer Service ► ► Gaining Prominence

5. Program Mix * Note: Program Launch * (Jan 03) * (Oct 02) * (Feb 02) * (Jan 02) * (April 01) * (July 01)

6. Marketing Strategy ► Web-based Advertising  Co-branding  Targeted Web Sites  E-Blasts  Zine  ”RoboRep”  Web Optimization ► Re-circs ► Direct Mail ► Referral ► Other

7. Admissions Dynamics ► Admissions Advisors ► 24/7 Enrollment Center  “RoboRep” ► Automated Processes

8. Student Profile Average Income: $44,000 94% Working Full Time Median Age: 32 55%/45% Male/Female 50 US States & 19 Countries

9. Customer Service ► Student Finance  Accessible  Alternative Fund Sources  Employer Reimbursement  Strong Packaging Rates ► Student Accounts  Automated Payments  Low DSO’s ► Academic Services 24/7 ► Tech Support ► Career Services

10. Human Capital ► Over 300 Staff and Faculty ► 80,000 square ft Facility ► Development and Succession Planning  Faculty  Staff ► Intellectual Property

11. Faculty Profile ► Experienced Online Instructors ► Online Training Program ► Experience in Field ► Highly Credentialed ► Geographic Locations

12. Technology and Innovation ► Academics  Multimedia Courseware  Singularity Learning Model ► Proprietary Course Platform/LMS ► Fully Integrated Virtual Campus ► Automated Customer Service Solutions

13. Ensuring Student Success ► At-Risk Student Alerts ► Academic Advisor ► Behavior-based Virtual Campus ► Learning Labs ► Integration of Synchronous & Asynchronous Learning ► Award-winning Cybrary

14. Gaining Prominence ► Media Coverage ► Opinion Leaders ► Department of Education Demonstration Program ► Regional Accreditation ► Electronic Signatures ► Senate Committee

15. Key Metrics Leads (2002) 220,000 Full-time, Degree- Seeking Population 3,000 (Jan ‘03) Annual Revenue per Student Approx. $20,000 Retention (2002) 75%

16. The Future ► Programs: Criminal Justice, Health, Doctorate, Culinary Arts ► International Market ► New Technologies ► Partnerships & Acquisitions ► $60+ MM Revenue in 2003 ► $200-300 MM Revenue by 2005