Distance Education Enrollments Up 171% for Corinthian Colleges

January 11, 2002

Corinthian Colleges, Inc. (Nasdaq: COCO) today said that registrations in online courses for the quarter ended December 31, 2001 rose 171% compared with the same quarter of last year. Course registrations for the fall term increased to 3,456, setting a company record.

Moreover, in response to the burgeoning interest in the company’s newest offering of online courses in accounting, criminal justice and selected Master’s degree studies, Corinthian added 14 new online courses in those three popular disciplines for the January term. In addition, two new campuses commenced offering online courses during the January term, bringing the total number of locations to 19. Currently, the company offers 80 courses online.

Corinthian’s Chairman, President and Chief Executive David G. Moore said, “The tremendous growth in our online learning program reflects the increasing popularity of this flexible learning alternative as well as the quality of our curricula and dedication of our faculty. We expect to further broaden our online course offering, leveraging our extensive curricula library and drawing from the coursework that has proved most popular with our traditional classroom students. We are confident in our ability to continue to successfully transition these courses to an online format quickly and cost effectively.”

Moore added: “We achieved a milestone this fiscal year with the enrollment of our initial group of exclusively online students. We are just beginning to realize the potential market for students who wish to pursue a degree completely online and believe that our dedicated admissions team, specifically trained to enroll exclusively online students, will enable us to capture an increasing share of this emerging market. We see our ability to offer accredited degrees completely online at both the associate and bachelor levels in business administration through our Florida Metropolitan University campuses as an important asset in building this program.”

Corinthian Colleges’ online education curricula span from individual coursework to full associate and bachelor degree programs. In addition to completely online programs, students enrolled at 19 Corinthian campuses may supplement their coursework by enrolling in online courses. Corinthian currently offers 80 courses online in business, general education, accounting, criminal justice and selected MBA studies.

About Corinthian Colleges, Inc.

Corinthian Colleges, Inc. is one of the largest, for-profit post-secondary education companies in the United States. As of December 31, 2001, the company operated 57 colleges in 20 states including 17 in California and nine in Florida. Corinthian serves the large and growing segment of the population seeking to acquire career-oriented education to become more qualified and marketable in today’s increasing demanding workplace environment.

Certain statements in this press release may be deemed to be forward- looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the “safe-harbor” provisions of that Act. Such statements include, but are not limited to, the company’s discussion of continued strong demand for online courses; its ability to develop and deliver new online courses quickly and cost effectively; and the company’s ability to enroll an increasing number of exclusively online students. Many important factors may cause the company’s actual results to differ materially from those discussed in any such forward- looking statements, including changes in student perception, changes in demand for online course offerings, potential higher average costs to offer new curricula in an online format, increased competition for online offerings, the attractiveness of the company’s online offerings to exclusively online students, the effectiveness of the company’s advertising and promotional efforts, and the other risks and uncertainties described in the company’s filings with the Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.