News Releases

ITT Educational Services, Inc. Agrees to Acquire Daniel Webster College

Apr 23, 2009

ITT Educational Services, Inc. (NYSE: ESI), a leading provider of technology-oriented postsecondary degree programs, today reported that it has entered into a definitive purchase agreement to acquire Daniel Webster College. Financial terms were not disclosed, but completion of the acquisition will not have a material effect on ITT/ESI's financial condition or results of operations.

Daniel Webster College is regionally accredited by the Commission on Institutions of Higher Education of the New England Association of Schools and Colleges, and currently serves approximately 1,200 students on its 52-acre campus in Nashua, NH and at an additional location in Portsmouth, NH. The college offers professional and technology-based programs of study at the associate, baccalaureate and master degree levels both in residence and through distance education.

The closing of the acquisition under the definitive purchase agreement is scheduled to occur in early July 2009, subject to accrediting commission and governmental approvals and customary closing conditions.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements are made based on the current expectations and beliefs of the company's management concerning future developments and their potential effect on the company. The company cannot assure you that future developments affecting the company will be those anticipated by its management. These forward-looking statements involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: business conditions and growth in the postsecondary education industry and in the general economy; changes in federal and state governmental regulations with respect to education and accreditation standards, or the interpretation or enforcement thereof, including, but not limited to, the level of government funding for, and the company's eligibility to participate in, student financial aid programs utilized by the company's students; the company's failure to comply with the extensive education laws and regulations and accreditation standards that it is subject to; effects of any change in ownership of the company resulting in a change in control of the company, including, but not limited to, the consequences of such changes on the accreditation and federal and state regulation of its institutes; the company's ability to implement its growth strategies; the company's failure to maintain or renew required regulatory authorizations or accreditation of its institutes; receptivity of students and employers to the company's existing program offerings and new curricula; loss of access by the company's students to lenders for education loans; the company's ability to collect internal student financing from its students; the company's ability to successfully defend litigation and other claims brought against it; and other risks and uncertainties detailed from time to time in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future developments or otherwise.


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SOURCE: ITT Educational Services, Inc

CONTACT: Denise Hooker of ITT Educational Services, Inc.,

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