Exhibit 99.1

CAREER EDUCATION CORPORATION REPORTS

RESULTS FOR THIRD QUARTER 2008

Hoffman Estates, Ill. (November 5, 2008) – Career Education Corporation (NASDAQ: CECO) today reported total revenue of $405.6 million and a net loss of ($0.1) million, or $0.00 per diluted share, during the third quarter of 2008 compared to total revenue of $427.2 million and net income of $15.6 million, or $0.17 per diluted share, during the third quarter of 2007.

Included in the results for the third quarter of 2008 are the following significant items:

• $15.7 million pre-tax, or ($0.12) per share in charges, related to the company’s ongoing effort to optimize its real estate footprint, representing $10.9 million pre-tax, or ($0.08) per share of cash lease exit expenses and $4.8 million pretax, or ($0.04) per share in noncash asset impairment charges,

• $2.0 million pre-tax, or ($0.01) per share, in trade name noncash impairment charges related to brand consolidation actions, and

• $3.2 million, or $0.04 per share, in tax benefit related to the sale of a foreign subsidiary.

“I am encouraged that despite external challenges, our financial results remain in line with our expectations.” said Gary E. McCullough, president and chief executive officer. “Our Health Education and International segments maintained their strong performance in the third quarter and continue to execute well. Additionally, online starts within the University segment grew over nine percent in the quarter. Through the first nine months of the year, the Culinary Arts segment has taken the necessary steps to adjust its operations and student financing capabilities to the new lending environment. These actions provide a blueprint for the Art & Design segment as it seeks to address similar challenges. While we still have work to do, we continue to make solid progress in positioning the company for the long-term.”

CEC ANNOUNCES 3Q08 RESULTS …PG 2

Three Months Ended September 30, 2008

• Total revenue was $405.6 million during the third quarter of 2008, a 5.0 percent decrease from $427.2 million during the third quarter of 2007.

• Operating loss was ($8.8) million during the third quarter of 2008, a decrease from $18.9 million of operating income during the third quarter of 2007. Operating margin percentage was (2.2%) percent during the third quarter of 2008, a 6.6 percentage point decrease relative to an operating profit margin percentage of 4.4 percent during the third quarter of 2007.

• Loss from continuing operations was ($0.0) million, or $0.00 per diluted share, during the third quarter of 2008, compared to income from continuing operations of $16.2 million, or $0.18 per diluted share, during the third quarter of 2007.

Nine Months Ended September 30, 2008

• Total revenue was $1.279 billion during the nine months ended September 30, 2008, relative to $1.308 billion during the nine months ended September 30, 2007.

• Operating income declined to $28.6 million during the nine months ended September 30, 2008, from $64.2 million during the nine months ended September 30, 2007. Operating margin percentage decreased to 2.2 percent during the nine months ended September 30, 2008, from 4.9 percent during the nine months ended September 30, 2007.

• Included in the results from continuing operations for the nine months ended September 30, 2008 and for the nine months ended September 30, 2007 are the following significant items:

		Pre-Tax Expense (In Millions)			Diluted Earnings per Share Impact Income (Loss)
Nine Months Ended September 30, 2008
Lease Exit Charges		$	10.9		$	(0.08	)
Severance/Stay Bonuses		$	13.3		$	(0.09	)
Asset Impairment Charges		$	9.1		$	(0.07	)
Tax Benefit			—		$	0.04
TOTAL		$	33.3		$	(0.20	)
Nine Months Ended September 30, 2007
Legal Settlements		$	13.1		$	(0.09	)
Severance		$	1.7		$	(0.01	)
TOTAL		$	14.8		$	(0.10	)

CEC ANNOUNCES 3Q08 RESULTS …PG 3

• Income from continuing operations during the nine months ended September 30, 2008, was $31.8 million, or $0.35 per diluted share, relative to $52.4 million, or $0.55 per diluted share, during the nine months ended September 30, 2007.

CONSOLIDATED CASH FLOWS AND FINANCIAL POSITION

Cash Flows

• Net cash flow provided by operating activities was $158.9 million during the nine months ended September 30, 2008, compared to net cash flow provided by operating activities of $193.2 million during the nine months ended September 30, 2007. The decrease in operating cash flows in 2008 was due to lower net income as compared to the prior year as well as payments related to legal matters accrued for in the previous year.

• Capital expenditures decreased to $39.9 million during the nine months ended September 30, 2008, from $44.1 million during the nine months ended September 30, 2007. Capital expenditures represented 3.1 percent of total revenue during the nine months ended September 30, 2008.

Financial Position

• As of September 30, 2008 and December 31, 2007, cash and cash equivalents and investments totaled $509.0 million and $390.0 million, respectively.

• Days sales outstanding (DSO) were 14 days as of September 30, 2008, consistent with DSO of 14 days as of December 31, 2007.

CEC ANNOUNCES 3Q08 RESULTS …PG 4

POPULATION AND NEW STUDENT START DATA

Student Population

Total student population by reportable segment as of October 31, 2008 and 2007, were as follows:

		As of October 31,				% Change 2008 vs. 2007
		2008		2007
STUDENT POPULATION
Art & Design		14,000		14,700		(5	)%
Culinary Arts		10,300		12,100		(15	)%
Health Education		17,200		14,600		18	%
International		9,700		8,600		13	%
University		44,800		42,300		6	%
Subtotal		96,000		92,300		4	%
Transitional Schools		2,700		8,200		(67	)%
Total Student Population		98,700		100,500		(2	)%
ONLINE POPULATION
Art & Design		800		300		N/M
University		34,400		31,900		8	%
Total Online Population		35,200		32,200		9	%

New Student Starts

New student starts by reportable segment during the third quarter of 2008 and 2007, were as follows:

		For the three months ended September 30,				% Change 2008 vs. 2007
		2008		2007
NEW STUDENT STARTS
Art & Design		3,080		3,490		(12	)%
Culinary Arts (1)		4,710		4,480		5	%
Health Education		5,600		4,740		18	%
International		4,070		3,380		21	%
University		14,130		13,120		8	%
Subtotal		31,590		29,210		8	%
Transitional Schools		10		2,000		N/M
Total New Student Starts		31,600		31,210		1	%
ONLINE STARTS
Art & Design		320		190		68	%
University		11,480		10,520		9	%
Total Online Starts		11,800		10,710		10	%

(1) Culinary Arts new student starts comparability was impacted by an additional start period in the third quarter of 2008, which resulted in approximately 1,100 additional student starts in the quarter as compared to the third quarter 2007. Accordingly, in the fourth quarter 2008, Culinary will have one less start period than the fourth quarter of 2007.

CEC ANNOUNCES 3Q08 RESULTS …PG 5

CONFERENCE CALL INFORMATION

Career Education Corporation will host a conference call on November 6, 2008 at 10:00 AM (Eastern Time). Interested parties can access the live webcast of the conference call at www.careered.com. Participants can also listen to the conference call by dialing 866-362-4666 (domestic) or 617-597-5313 (international) and citing code 65468933. Please log-in or dial-in at least 10 minutes prior to the start time to ensure a connection. An archived version of the webcast will be accessible for 90 days at www.careered.com. A replay of the call will also be available for seven days by calling 888-286-8010 (domestic) or 617-801-6888 (international) and citing code 45600050.

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 population of approximately 90,000 students across the world in a variety of career-oriented disciplines. The more than 75 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. Approximately one-third of its students attend the web-based virtual campuses of American InterContinental University Online and Colorado Technical University Online.

CEC is an industry leader whose gold-standard brands are recognized globally. Those brands include, among others, the Le Cordon Bleu Schools North America; Harrington College of Design; Brooks Institute; International Academy of Design & Technology; American InterContinental University; Colorado Technical University and Sanford-Brown Institutes and Colleges. Through its schools, CEC is committed to providing quality education, enabling students to graduate and pursue rewarding careers.

For more information, see the company’s website at www.careered.com. The company’s website includes a detailed listing of individual campus locations and web links to its more than 75 colleges, schools, and universities.

Except for the historical and present factual information contained herein, the matters set forth in this release, including statements identified by words such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “project,” “will,” and similar expressions, are forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, performance and business prospects, and opportunities to differ materially from those expressed in, or implied by, these statements. Except as expressly required by the federal securities laws, we undertake no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. These risks and uncertainties, the outcome of which could materially and adversely affect our financial condition and operations, include, but are not limited to, the following : the adverse impact and potential impacts on the availability of Title IV and private student loans for our students of (1) the willingness or ability of private lenders to make private student loans in the current U.S. credit markets ; (2) new student lending related reporting and disclosure obligations on institutions that participate in Title

CEC ANNOUNCES 3Q08 RESULTS …PG 6

IV federal student financial aid programs under The Higher Education Opportunity Act (“HEOA”), signed into law on August 14, 2008, in the first full reauthorization of the Higher Education Act of 1965, as amended, and (3) pending regulations under HEOA and Congress’ willingness or ability to maintain or increase funding for Title IV programs; potential higher bad debt expense or reduced revenue associated with requiring students to pay more of their educational expenses while in school or with directly making student loans to our students; increased competition; the effectiveness of our regulatory compliance efforts; impairment of goodwill and other intangible assets as we continue to redefine the company and manage our brands and marketing to improve effectiveness and reduce costs; charges and expenses associated with exiting excess facility space, centralizing various functional areas, such as human resources and financial aid, and continuing to align the SBUs and corporate staff to remove layers, overlaps and redundancies; the impact on our revenues and profitability of our discontinued operations segment; our ability to comply with accrediting agency requirements or obtain accrediting agency approvals; costs and impacts of legal and administrative proceedings and investigations, governmental regulations, and class action and other lawsuits; costs and difficulties related to the integration of acquired businesses; our ability to manage and continue growth; and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2007, and from time to time in our quarterly and current reports filed with the Securities and Exchange Commission.

###

Investors:		John Springer
		847/585-3899
		www.careered.com
Media:		Jeff Leshay
		847/855-2005

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts and percentages)

		For the Three Months Ended September 30,
		2008				% of Revenue			2007(1)				% of Revenue
REVENUE:
Tuition and registration fees		$	385,849			95.1	%		$	401,939			94.1	%
Other			19,784			4.9	%			25,266			5.9	%
Total revenue			405,633			100.0	%			427,205			100.0	%
OPERATING EXPENSES:
Educational services and facilities			170,055			41.9	%			162,636			38.1	%
General and administrative			218,454			53.9	%			227,186			53.2	%
Depreciation and amortization			19,034			4.7	%			18,500			4.3	%
Goodwill and asset impairment			6,843			1.7	%			—			0.0	%
Total operating expenses			414,386			102.2	%			408,322			95.6	%
Operating (loss) income			(8,753	)		-2.2	%			18,883			4.4	%
OTHER INCOME (EXPENSE):
Interest income			2,875			0.7	%			4,152			1.0	%
Interest expense			(211	)		-0.1	%			(342	)		-0.1	%
Share of affiliate earnings			—			0.0	%			209			0.0	%
Miscellaneous (expense) income			(220	)		-0.1	%			65			0.0	%
Total other income, net			2,444			0.6	%			4,084			1.0	%
Pretax (loss) income from continuing operations			(6,309	)		-1.6	%			22,967			5.4	%
(Benefit) provision for income taxes			(6,263	)		-1.5	%			6,755			1.6	%
(Loss) income from continuing operations			(46	)		0.0	%			16,212			3.8	%
Loss from discontinued operations, net of tax			(101	)					$	(651	)
NET (LOSS) INCOME		$	(147	)					$	15,561
NET (LOSS) INCOME PER SHARE—DILUTED
(Loss) income from continuing operations		$	(0.00	)					$	0.18
Loss from discontinued operations			(0.00	)						(0.01	)
Net (loss) income		$	(0.00	)					$	0.17
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING			89,675							93,455

⁽¹⁾ Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale, the change in our reportable business segments during the first quarter of 2008 and to present Brooks College—Sunnyvale, CA and IADT Toronto as discontinued operations. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

(In thousands)

		September 30, 2008				December 31, 2007(1)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	224,908			$	223,334
Investments			284,046				166,618
Total cash and cash equivalents and investments			508,954				389,952
Receivables:
Students, net of allowance for doubtful accounts of $35,393 and $35,507 as of September 30, 2008, and December 31, 2007, respectively			54,981				59,584
Other, net			7,969				9,052
Prepaid expenses			44,691				50,025
Inventories			11,850				15,400
Deferred income tax assets			19,403				19,418
Other current assets			10,120				16,456
Assets of discontinued operations			628				23,554
Total current assets			658,596				583,441
NON-CURRENT ASSETS:
Property and equipment, net			302,955				337,073
Goodwill			377,288				379,507
Intangible assets, net			40,851				44,395
Other assets, net			20,074				22,050
TOTAL ASSETS		$	1,399,764			$	1,366,466
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt and capital lease obligations		$	9,683			$	11,843
Accounts payable			39,726				27,826
Accrued expenses:
Payroll and related benefits			56,435				34,305
Income taxes			5,822				19,556
Other			76,784				102,058
Deferred tuition revenue			175,581				159,482
Liabilities of discontinued operations			2,590				8,282
Total current liabilities			366,621				363,352
LONG-TERM LIABILITIES:
Long-term debt and capital lease obligations, net of current maturities			1,984				2,179
Deferred rent obligations			99,051				98,115
Deferred income tax liabilities			412				624
Other			13,085				4,473
Total long-term liabilities			114,532				105,391
SHARE-BASED AWARDS SUBJECT TO REDEMPTION			6,191				11,615
STOCKHOLDERS’ EQUITY:
Preferred stock			—				—
Common stock			933				930
Additional paid-in capital			220,833				207,294
Accumulated other comprehensive income			8,777				16,304
Retained earnings			770,955				736,603
Cost of shares in treasury			(89,078	)			(75,023	)
Total stockholders’ equity			912,420				886,108
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,399,764			$	1,366,466

(1) Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale, the change in our reportable business segments during the first quarter of 2008 and to present Brooks College—Sunnyvale, CA and IADT Toronto as discontinued operations. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts and percentages)

		For the Nine Months Ended September 30,
		2008				% of Revenue			2007(1)				% of Revenue
REVENUE:
Tuition and registration fees		$	1,224,581			95.7	%		$	1,245,274			95.2	%
Other			54,371			4.3	%			62,960			4.8	%
Total revenue			1,278,952			100.0	%			1,308,234			100.0	%
OPERATING EXPENSES:
Educational services and facilities			502,617			39.3	%			479,885			36.7	%
General and administrative			680,007			53.2	%			708,147			54.1	%
Depreciation and amortization			58,630			4.6	%			56,043			4.3	%
Goodwill and asset impairment			9,070			0.7	%			—			0.0	%
Total operating expenses			1,250,324			97.8	%			1,244,075			95.1	%
Operating income			28,628			2.2	%			64,159			4.9	%
OTHER INCOME (EXPENSE):
Interest income			9,327			0.7	%			12,787			1.0	%
Interest expense			(703	)		-0.1	%			(877	)		-0.1	%
Share of affiliate earnings			4,665			0.4	%			2,870			0.2	%
Miscellaneous (expense) income			(496	)		0.0	%			784			0.1	%
Total other income, net			12,793			1.0	%			15,564			1.2	%
Pretax income from continuing operations			41,421			3.2	%			79,723			6.1	%
Provision for income taxes			9,655			0.8	%			27,329			2.1	%
Income from continuing operations			31,766			2.5	%			52,394			4.0	%
Loss from discontinued operations, net of tax			(2,838	)						(1,670	)
NET INCOME		$	28,928						$	50,724
NET INCOME PER SHARE—DILUTED
Income from continuing operations		$	0.35						$	0.55
Loss from discontinued operations			(0.03	)						(0.02	)
Net income		$	0.32						$	0.53
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING			90,144							95,055

(1) Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale, the change in our reportable business segments during the first quarter of 2008 and to present Brooks College - Sunnyvale, CA and IADT Toronto as discontinued operations. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

		For the Nine Months Ended
		September 30,
		2008				2007
CASH FLOWS FROM OPERATING ACTIVITIES OF CONTINUING OPERATIONS:
Net income		$	28,928			$	50,724
Adjustments to reconcile net income to net cash provided by operating activities:
Goodwill and asset impairment			13,600				—
Depreciation and amortization expense			60,070				57,744
Bad debt expense			33,350				32,055
Compensation expense related to share-based awards			10,017				11,700
Gain on sale of business			(1,555	)			—
Loss (gain) on disposition of property and equipment			573				(220	)
Share of affiliate earnings, net of cash received			939				(927	)
Changes in operating assets and liabilities			13,022				42,164
Net cash provided by operating activities			158,944				193,240
CASH FLOWS FROM INVESTING ACTIVITIES:
Business acquisitions, net of acquired cash			—				(30,324	)
Acquisition transaction costs			—				(1,553	)
Purchases of property and equipment			(39,874	)			(44,085	)
Purchases of available-for-sale investments			(470,324	)			(504,180	)
Sales of available-for-sale investments			352,896				522,789
Other			944				(196	)
Net cash used in investing activities			(156,358	)			(57,549	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of treasury stock			(14,055	)			(149,241	)
Issuance of common stock			3,089				14,730
Tax benefit associated with stock option exercises			433				2,868
Payments on revolving loans			(1,492	)			—
Payments of capital lease obligations and other long-term debt			(479	)			(1,385	)
Net cash used in financing activities			(12,504	)			(133,028	)
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS:			(2,815	)			7,993
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS			(12,733	)			10,656
Add: Cash balance of discontinued operations at beginning of the period			14,371				8,530
Less: Cash balance of discontinued operations at end of the period			64				13,059
CASH AND CASH EQUIVALENTS, beginning of the period			223,334				181,286
CASH AND CASH EQUIVALENTS, end of the period		$	224,908			$	187,413

CAREER EDUCATION CORPORATION

SELECTED SEGMENT INFORMATION

(In thousands)

		For the Three Months Ended September 30,
		2008				2007(1)
REVENUE:
University		$	172,856			$	166,322
Culinary Arts			85,961				98,472
Health Education			58,071				51,916
Arts & Design			61,766				68,450
International			12,595				10,891
Transitional Schools			14,385				31,151
Corporate and other			(1	)			3
		$	405,633			$	427,205
SEGMENT OPERATING (LOSS) INCOME:
University		$	27,341			$	16,899
Culinary Arts (2)			(10,423	)			15,566
Health Education			3,289				2,578
Arts & Design			3,832				8,281
International			(5,240	)			(3,054	)
Transitional Schools (3)			(10,646	)			(8,879	)
Corporate and other			(16,906	)			(12,508	)
		$	(8,753	)		$	18,883
SEGMENT OPERATING (LOSS) INCOME PERCENTAGE:
University			15.8	%			10.2	%
Culinary Arts			-12.1	%			15.8	%
Health Education			5.7	%			5.0	%
Arts & Design			6.2	%			12.1	%
International			-41.6	%			-28.0	%
Transitional Schools			-74.0	%			-28.5	%

(1) Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale, the change in our reportable business segments during the first quarter of 2008 and to present Brooks—Sunnyvale, CA and IADT Toronto as discontinued operations. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.

(2) Culinary Arts 2008 operating loss includes pretax charges in the quarter of $18.5 million. Pretax charges related to the following: $9.7 million in lease exit charges related to two facilities, $4.8 million asset impairment due to the exit of a facility, and $4.0 million expense associated with an increase in legal reserves.

(3) Transitional Schools 2008 operating loss includes charges in the quarter of $1.1 million for unused space.

CAREER EDUCATION CORPORATION

SELECTED SEGMENT INFORMATION

(In thousands)

		For the Nine Months Ended September 30,
		2008				2007(1)
REVENUE:
University		$	525,365			$	530,746
Culinary Arts			251,026				271,743
Health Education			171,120				152,369
Arts & Design			196,214				202,328
International			71,872				49,322
Transitional Schools			63,347				101,587
Corporate and other			8				139
		$	1,278,952			$	1,308,234
SEGMENT OPERATING (LOSS) INCOME:
University		$	79,806			$	75,903
Culinary Arts (2)			(5,317	)			34,121
Health Education			12,191				9,062
Arts & Design			19,002				18,557
International			10,754				3,577
Transitional Schools (3)			(36,926	)			(37,619	)
Corporate and other			(50,882	)			(39,442	)
		$	28,628			$	64,159
SEGMENT OPERATING (LOSS) INCOME PERCENTAGE:
University			15.2	%			14.3	%
Culinary Arts			-2.1	%			12.6	%
Health Education			7.1	%			5.9	%
Arts & Design			9.7	%			9.2	%
International			15.0	%			7.3	%
Transitional Schools			-58.3	%			-37.0	%

(1) Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale, the change in our reportable business segments during the first quarter of 2008 and to present Brooks—Sunnyvale, CA and IADT Toronto as discontinued operations. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.

(2) Culinary Arts 2008 operating loss includes pretax charges of $18.5 million. Pretax charges related to the following: $9.7 million in lease exit charges related to two facilities, $4.8 million asset impairment due to the exit of a facility, and $4.0 million expense associated with an increase in legal reserves.

(3) Transitional Schools 2008 operating loss includes charges totaling $12.7 million. Charges of $9.5 million in severance and stay bonuses, asset impairment of $2.1 million related to a school being taught out, and charges of $1.1 million for unused space.

CAREER EDUCATION CORPORATION

SELECTED SEGMENT START-UP INFORMATION

(Dollars in thousands)

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2008				2007(1)				2008				2007(1)
REVENUE:
Culinary Arts (2)		$	4,694			$	391			$	10,400			$	391
Health Education (3)			—				—				—				—
		$	4,694			$	391			$	10,400			$	391
SEGMENT OPERATING (LOSS) INCOME:
Culinary Arts (2)		$	(2,408	)		$	(2,025	)		$	(7,353	)		$	(4,531	)
Health Education (3)			(229	)			—				(596	)			—
		$	(2,637	)		$	(2,025	)		$	(7,949	)		$	(4,531	)

(1) Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale and the change in our reportable business segments during the first quarter of 2008. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.

(2) For the three and nine months ended September 30, 2008 and 2007, Culinary Arts start-up campuses include LCB, Boston, MA, Dallas, TX and St. Louis, MO and Kitchen Academy Seattle, WA.

(3) For the three and nine months ended September 30, 2008, Health Education start-up campuses include SBI San Antonio, TX.

CAREER EDUCATION CORPORATION

SELECTED UNIVERSITY SEGMENT INFORMATION

(Dollars in thousands)

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2008				2007(1)				2008				2007(1)
UNIVERSITY REVENUE:
AIU
Online		$	77,767			$	73,122			$	229,343			$	245,606
Onground			16,787				18,880				57,918				66,467
CTU
Online			58,925				55,701				175,584				156,861
Onground			12,543				11,700				39,249				37,085
Briarcliffe			6,834				6,919				23,271				24,727
University		$	172,856			$	166,322			$	525,365			$	530,746
UNIVERSITY SEGMENT OPERATING INCOME (LOSS):
AIU
Online		$	21,545			$	14,716			$	52,042			$	64,609
Onground			(5,374	)			(7,508	)			(11,654	)			(13,129	)
CTU
Online			12,659				11,298				41,041				26,738
Onground			(1,025	)			(632	)			(959	)			(927	)
Briarcliffe			(464	)			(975	)			(664	)			(1,388	)
University		$	27,341			$	16,899			$	79,806			$	75,903
UNIVERSITY SEGMENT OPERATING INCOME (LOSS) PERCENTAGE:
AIU
Online			27.7	%			20.1	%			22.7	%			26.3	%
Onground			-32.0	%			-39.8	%			-20.1	%			-19.8	%
CTU
Online			21.5	%			20.3	%			23.4	%			17.0	%
Onground			-8.2	%			-5.4	%			-2.4	%			-2.5	%
Briarcliffe			-6.8	%			-14.1	%			-2.9	%			-5.6	%
University			15.8	%			10.2	%			15.2	%			14.3	%
		Student Population as of October 31,
		2008				2007
AIU
Online			16,100				15,600
Onground			3,800				4,100
CTU
Online			18,300				16,300
Onground			4,800				4,300
Briarcliffe			1,800				2,000
University			44,800				42,300
		Student Starts for the three months ended September 30,
		2008				2007
AIU
Online			5,200				4,830
Onground			930				880
CTU
Online			6,280				5,690
Onground			1,020				900
Briarcliffe			700				820
University			14,130				13,120

(1) Prior period financial results have been reclassified to account for the teach-out of our schools previously reported as held for sale and the change in our reportable business segments during the first quarter of 2008. For further information regarding our reclassification of reportable segments, please refer to our Form 8-K filings dated March 28, 2008 and April 11, 2008.