Devry Education Group Inc. – ‘8-K’ for 5/16/03 – EX-99

On:  Friday, 5/23/03, at 9:05am ET   ·   For:  5/16/03   ·   Accession #:  730464-3-9   ·   File #:  1-13988

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Devry Inc. Form 8-K                                    5     16K 
 2: EX-2        Exhibit 2.1 to Form 8-K                               87    315K 
 3: EX-2        Exhibit 2.2 to Form 8-K                                2     12K 
 4: EX-2        Exhibit 2.3 to Form 8-K                                6     24K 
 5: EX-99       Exhibit 99 to Form 8-K                                 2     10K 

EX-99   —   Exhibit 99 to Form 8-K

EX-99
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EXHIBIT 99      
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                                     For Immediate Release
                                     ---------------------
Contacts:                                                                       

Media Relations                                                                 
Jonelle Niffenegger, 630-706-3212                                               

Investor Relations                                                              
Joan Bates, 630-574-1949                                                        

   DeVry Inc. Completes Acquisition of Ross University
   ---------------------------------------------------
  Provides Strong Presence, Platform in Primary Healthcare Education
  ------------------------------------------------------------------

OAKBROOK TERRACE, Ill., May 19, 2003 - DeVry Inc. announced today it has        
completed the acquisition of Ross University, the operator of Ross University   
School of Medicine and Ross University School of Veterinary Medicine. Bank of   
America, N.A., provided senior financing for the $310 million acquisition. As   
previously announced, the acquisition is expected to be immediately accretive   
to DeVry's earnings per share and to have a positive impact on operating        
margins and cash flow.                                                          

Ross University becomes the third division of DeVry Inc., joining DeVry         
University and Becker Conviser Professional Review.                             

Dennis J. Keller, DeVry Inc. chairman and co-chief executive officer, said,     
"The Ross University acquisition will bring immediate positive financial        
benefits to DeVry and provides excellent opportunities to leverage Ross'        
medicine and health sciences expertise with the technology and business         
offerings of DeVry University and Becker Conviser Professional Review."         

DeVry recently announced it would begin offering new degree programs at DeVry   
University in the fields of biomedical engineering technology, biomedical       
informatics and health information technology.                                  

"We are pleased that Ross University will join the DeVry organization along     
with DeVry University and Becker Conviser Professional Review," said Timothy    
E. Foster, president of Ross University. "Technology, healthcare and business   
will provide a strong foundation for the future growth of the company."         

Ross University, with campuses located in the Caribbean countries of Dominica   
and St. Kitts/Nevis, is one of the world's largest providers of medical and     
veterinary education with more than 2,500 students. Ross' curricula follow the  
models used in U.S. medical and veterinary schools and Ross students            
participate in clinical rotations throughout the United States.                 

EX-99
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DeVry Inc. (NYSE: DV), is the holding company for DeVry University, Ross        
University and Becker Conviser Professional Review. DeVry University offers     
associate, bachelor's and master's degree programs in technology, business and  
management. Ross University is focused exclusively on professional medical and  
veterinary education awarding both doctor of medicine and doctor of veterinary  
medicine degrees. Becker Conviser Professional Review is a leading provider of  
preparatory coursework for the certified public accountant, certified           
management accountant and chartered financial analyst exams. DeVry Inc. is      
based in Oakbrook Terrace, Ill. For more information about DeVry Inc., visit    
http://www.devry.com.                                                           

Certain information contained in this release may constitute forward-looking    
statements pursuant to the safe harbor provision of the Private Securities      
Litigation Reform Act of 1995. Such statements may involve risks and            
uncertainty that could cause actual results to differ materially from the       
forward-looking statements. Potential risks and uncertainties include, but are  
not limited to, dependence on student financial aid, state and provincial       
approval and licensing requirements, and the other factors detailed in the      
Company's Securities and Exchange Commission filings, including those discussed 
under the heading "Risk Factors" in the Company's Registration Statement on     
Form S-3 (No. 333-22457) filed with the SEC.                                    

Donna M. Lipira                                                                 
Investor Relations                                                              
DeVry Inc.                                                                      
One Tower Lane                                                                  
Oakbrook Terrace, IL 60181                                                      
Phone: 630/382-2918                                                             
Fax: 630-382-2943                                                               
dlipira@devry.com                                                               

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		5/23/03
		5/19/03		1
For Period End:		5/16/03							3,  8-K,  8-K/A
									List all Filings