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EXHIBIT 99.01
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FOR IMMEDIATE RELEASE
For more information contact:
XXXX X. XXXXX, CHIEF FINANCIAL OFFICER
Xxxxxxx Education, Inc.
(000) 000-0000
XXXXXXX EDUCATION, INC. ANNOUNCES SECOND
QUARTER COMMON STOCK CASH DIVIDEND
Washington, D.C. - May 23, 2002--Xxxxxxx Education, Inc. (Nasdaq: STRA) today
announced that the Company's Board of Directors declared a quarterly cash
dividend of $0.065 per common share ($0.26 annually) for the quarter ending June
30, 2002. The dividend is payable on July 23, 2002 to shareholders of record on
July 9, 2002.
Xxxxxxx Education, Inc. (Nasdaq: STRA) (xxx.xxxxxxxxxx.xxx) is an education
services holding company which owns Xxxxxxx University and certain other assets.
Xxxxxxx'x mission is to make higher education achievable and convenient for
working adults in today's economy.
Xxxxxxx University (xxx.xxxxxxx.xxx) is a proprietary institution of higher
learning which offers undergraduate and graduate degree programs in Business
Administration, Accounting, and Information Technology to more than 14,000
working adults at 20 campuses in Maryland, Washington, D.C., Virginia, and North
Carolina and via the Internet through Strayer ONLINE. Xxxxxxx University is
committed to providing an education that prepares working adult students for
advancement in their careers and professional lives. By constantly adapting to
the latest techniques and technologies used in business, we provide our
graduates with practical skills and a competitive edge in the changing
marketplace.
Xxxxxxx University is accredited by the Middle States Commission on Higher
Education. Founded in 1892, Strayer attracts students from around the country
and throughout the world.
This press release contains statements that are forward looking and are made
pursuant to the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995 ("Reform Act"). The statements are based on the Company's
current expectations and are subject to a number of uncertainties and risks. In
connection with the Safe Harbor provisions of the Reform Act, the Company has
identified important factors that could cause the Company's actual results to
differ materially. The uncertainties and risks include the pace of growth of
student enrollment, our continued compliance with Title IV of the Higher
Education Act, competitive factors, risks associated with the opening of new
campuses and the timing of related regulatory approvals and general economic and
market conditions. Further information about these and other relevant risks and
uncertainties may be found in the Company's annual report on Form 10-K and its
other filings with the Securities and Exchange Commission, all of which are
incorporated herein by reference and which are available from the Commission. We
undertake no obligation to update or revise forward looking statements.
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