Apollo Education Group, Inc. Explores Strategic Alternatives

PHOENIX–(BUSINESS WIRE)–Apollo Education Group, Inc. (Nasdaq: APOL) announced today that the
Board of Directors has made the determination to explore strategic
alternatives while the Company continues to execute its ongoing business
transformation. The Board is currently in discussions that could
potentially lead to a change of control of the Company. The Board
believes that these actions will support and accelerate Apollo’s
strategic initiatives, which include the continued growth and investment
in Apollo Global and the continuation of the University of Phoenix’s
transformation plan to further enhance student outcomes and provide
outstanding, career relevant higher education for working adults.

The Company has retained Barclays and Credit Suisse as financial
advisors and Sullivan & Cromwell as legal advisor. There can be no
assurance that any transaction will be pursued or completed. Given the
ongoing nature of these discussions, the Company will not make any
further comment at this time.

About Apollo Education Group, Inc
Apollo Education Group,
Inc. is one of the world’s largest private education providers, serving
students since 1973. Through its subsidiaries, Apollo Education Group
offers undergraduate, graduate, professional development and other
nondegree educational programs and services, online and on-campus
principally to working learners. Its educational programs and services
are offered throughout the United States and in Europe, Australia, Latin
America, Africa and Asia, as well as online throughout the world. For
more information about Apollo Education Group, Inc. and its
subsidiaries, call (800) 990-APOL or visit the Company’s website at www.apollo.edu.

Forward-Looking Statements Safe Harbor
about Apollo Education Group and its business in this release which are
not statements of historical fact, including statements regarding Apollo
Education Group’s future strategy and plans and commentary regarding
future results of operations and 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 plans implemented and actual
results achieved may differ materially from those set forth in or
implied by such statements due to various factors, including without
limitation: (i) the impact of increased competition from traditional
public universities and proprietary educational institutions; (ii) the
impact of the initiatives to transform University of Phoenix into a more
focused, higher retaining and less complex institution, including the
near-term impact on enrollment; (iii) the impact of the Company’s
ongoing restructuring and cost-reduction initiatives; (iv) impacts from
actions taken by our regulators that could affect University of
Phoenix’s eligibility to participate in or the manner in which it
participates in U.S. federal and state student financial aid programs;
(v) further delay in the University’s pending recertification by the
U.S. Department of Education for participation in Title IV student
financial aid programs, or any limitations or qualifications imposed in
connection with any recertification; (vi) the impact of the U.S.
Department of Defense (“DoD”) action to place University of Phoenix on
probation in relation to participation in the DoD’s Tuition Assistance
Program for active duty military students; (vii) the impact of any
reduction in financial aid available to students, including active and
retired military personnel, due to the U.S. government deficit reduction
proposals, debt ceiling limitations, budget sequestration or otherwise;
(viii) changes in University of Phoenix enrollment or student mix; and
(ix) unexpected expenses or other challenges in integrating acquired
businesses, consumer or regulatory impact arising from consummation of
such acquisitions, and unexpected changes or developments in the
acquired businesses. For a discussion of the various factors that may
cause actual plans implemented and actual results achieved to differ
materially from those set forth in the forward-looking statements,
please refer to the risk factors and other disclosures contained in
Apollo Education Group’s Form 10-K for fiscal year 2015, most recently
filed 10-Q, and other filings with the Securities and Exchange
Commission which are available at www.apollo.edu.


Brunswick Group
Tripp Kyle / Tom Maginnis
(212) 333 3810