Career Education Corporation
NASDAQ : CECO

October 11, 2005 05:59 ET

Career Education Corporation's New Initiatives Group Launches Culinary Website Chefs.com

HOFFMAN ESTATES, Ill.--(CCNMatthews - Oct 11, 2005) -

JDV Online, part of the New Initiatives Group of Career Education Corporation (NASDAQ:CECO), has launched an exciting new consumer-focused culinary website called Chefs.com. The site is a culinary super-site providing consumers with a wealth of interactive features, multimedia content, a courseware library, and a diverse recipe collection.

"Chefs.com is an example of our forward-looking plans to position CEC's digital enterprises to take advantage of the opportunities we now have in this knowledge-based economy. The site is an innovative and engaging resource with frequently updated information, techniques, tips, and recipe ideas from culinary experts," said Nick Fluge, JDV Online's Chief Visionary Officer.

Last October, Career Education Corporation Chairman and Chief Executive Officer John Larson announced that the company intended to dedicate attention to the second phase of its online business strategy by developing an Internet presence aimed at the growing number of Internet consumers who are enthusiasts in CEC's areas of expertise, including culinary. That strategy led to the formation of JDV Online and the launch of Chefs.com.

In addition to Chefs.com, JDV Online is leveraging existing market niches to build a series of world-class enthusiast websites. These sites will target enthusiasts with a unique marketing message and approach, utilizing a blend of premium content, product sales, and advertising. They will be engaging communities of discovery and investigation for people who are passionate about their areas of interest, but who do not necessarily aspire to be professionals.

In 2006, CEC's New Initiatives Group will also develop purely digital marketplaces aimed at the growing number of consumers who demand immediate access to high quality content.

"Our approach is to build upon Career Education Corporation's success in the online environment by expanding into the broad-based Internet consumer market," said Mr. Larson. "JDV Online's initiatives will revolve around offering knowledge, ideas, and software innovations to the public."

Chefs.com is available at www.chefs.com.

About Career Education Corporation

Career Education Corporation (www.careered.com) is one of the largest providers of private, for-profit postsecondary education and has a presence in both on-campus and online education. CEC's Colleges, Schools and Universities Group operates more than 80 campuses in the U.S., Canada, France, the United Kingdom and the United Arab Emirates and offers doctoral degree, master's degree, bachelor's degree, associate degree and diploma programs in the career-oriented disciplines of business studies, visual communication and design technologies, health education, information technology, and culinary arts. The Online Education Group operates American InterContinental University Online and Colorado Technical University Online and offers a variety of degrees in information technology, business, visual communication and education. CEC's total student population on July 31, 2005 was approximately 92,000 students.

Except for the historical and present factual information contained herein, the matters set forth in this release, including statements under "Business Outlook" and statements identified by words such as "anticipates," "expects," "projects," "plans," "will," and similar expressions, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on information currently available to us and involve risks and uncertainties that could cause our actual growth, results, performance and business prospects and opportunities to differ materially from those expressed in, or implied by these statements. These risks and uncertainties, the outcome of which could materially and adversely affect our financial condition and operations, include, but are not limited to: risks related to our ability to comply with, and the impact of changes in, legislation and regulations that affect our ability to participate in student financial aid programs; costs, risks and effects of legal and administrative proceedings and investigations and governmental regulations, including the pending Securities and Exchange Commission and Justice Department investigations and, class action, derivative, and other lawsuits; risks related to our ability to comply with accrediting agency requirements or obtain accrediting agency approvals; costs and difficulties related to the integration of acquired businesses; risks related to our ability to manage and continue growth; future financial and operational results; risks related to competition, general economic conditions, and other risk factors relating to our industry and business, as detailed in our Annual Report on Form 10-K for the year ended December 31, 2004, and from time to time in our other reports filed with the Securities and Exchange Commission. We disclaim any responsibility to update or revise these forward-looking statements.

Contact Information

  • Career Education Corporation
    Lynne Baker (Media), 847-851-7006
    or
    Karen King (Investor Relations), 847-585-2247
    website: www.careered.com