eCollege(SM) Announces Quarterly Revenue of $19.6 Million and Increases Revenue Guidance for Year

May 6, 2004

DENVER, May 4 /PRNewswire-FirstCall/ — eCollege(SM) (Nasdaq: ECLG – News), a leading provider of value-added information services to the post-secondary education market, today announced it achieved revenue of $19.6 million for the first quarter of 2004, up 193 percent from $6.7 million for the first quarter of 2003. eCollege’s first quarter results include revenue of $8.2 million from the Company’s eLearning Division, and $11.4 million from the Company’s Enrollment Division, Datamark, Inc., which was acquired on October 31, 2003.

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