Career Education Corporation (CEC) (NASDAQ:CECO) today announced it has acquired for cash the International University of Monaco (IUM), a leading international business university located in the Principality of Monaco, Monte-Carlo. IUM will join CEC’s INSEEC group, based in Paris, France. IUM offers bachelor’s, master’s and doctoral programs in such areas as finance, international business, and luxury goods and services. According to the magazine The Economist, IUM is ranked among the top 50 full-time MBA institutions in the world. IUM’s current enrollment includes nearly 400 students representing 62 countries. The addition of IUM will position INSEEC, a leader in postsecondary education in Europe, for continued growth. The acquisition, which closed April 15, 2010, is not anticipated to materially affect the expected financial results of operations in 2010 of Career Education Corporation. About International University of Monaco The Monaco Business School at the International University of Monaco (IUM) develops successful and thoughtful leaders and entrepreneurs. IUM is the only university which provides a business education fully taught in English on the Cote D’Azur. With 60 nationalities represented in the student body and faculty, it is the premier institution for higher education in the Principality of Monaco. For more information, please visit www.monaco.edu.com. About Career Education Corporation The colleges, schools and universities that are part of the Career Education Corporation (CEC) family offer high-quality education to a diverse student population of over 116,000 students across the world in a variety of career-oriented disciplines. The approximately 90 campuses that serve these students are located throughout the U.S. and in France, Italy, and the United Kingdom, and offer doctoral, master’s, bachelor’s and associate degrees and diploma and certificate programs. Nearly 40 percent of our students attend the Web-based virtual campuses of American InterContinental University, Colorado Technical University, International Academy of Design & Technology and Le Cordon Bleu College of Culinary Arts.
CEC is an industry leader whose brands are recognized globally. Those brands include, among others, American InterContinental University; Brooks Institute; Colorado Technical University; Harrington College of Design; INSEEC Schools; International Academy of Design & Technology; Istituto Marangoni; Le Cordon Bleu North America; and Sanford-Brown Institutes and Colleges. Through our schools, CEC is committed to providing quality education, enabling students to graduate and pursue rewarding careers.For more information, visit www.careered.com. The website includes a detailed listing of individual campus locations and web links.