eCollegesm Strengthens Board of Directors With the Addition of Robert H. Mundheim

February 5, 2001

eCollegesm [Nasdaq: ECLG] announced today the addition of Robert H. Mundheim to its board of directors. Mundheim, currently serving as president of the American Academy in Berlin and of counsel to Shearman and Sterling in New York, has achieved a notable career in both the academic world and on Wall Street.

“Having been both a law school professor and administrator, Mr. Mundheim brings an educator’s perspective to the eCollege board. Likewise, his practice and background in securities law will help us as we work with investors and Wall Street,” said Oakleigh Thorne, chairman and CEO of eCollege. “We’re thrilled to have Mr. Mundheim on the eCollege board. He will be an asset to the entire company as we move towards profitability in 2001.”

Mundheim, who served as general counsel for the U.S. Treasury Department during President Carter’s administration, held positions as dean and university professor of Law and Finance at the University of Pennsylvania Law School. He is a graduate of the 1957 class of Harvard Law School and has taught as a visiting professor at Harvard Law School, Duke Law School and UCLA Law School, among others.

Mundheim has served as executive vice president and general counsel of Salomon, Inc.; managing director and member of the management board of Salomon Brothers, Inc.; and senior executive vice president and general counsel of Salomon Smith Barney Holdings, Inc.

Among numerous board positions, Mundheim has served as vice chairman of the National Association of Securities Dealers (NASD), on the board of Benjamin Moor, Inc., and is a trustee of the New School University. From 1980-1996, he served as a director of Commerce Clearing House, Inc., where Thorne was also a director and held the position of president and CEO.

The company’s bylaws provide for seven directors on the board. Jon Dobrin, co-founder and vice president of product management at eCollege, is resigning his position on the board, but will continue to work for the company as vice president of product management.

About eCollege

eCollege [Nasdaq: ECLG] is a developer of complete eLearning solutions. Comprised of educators and technologists, eCollege partners with colleges, universities, schools and corporations to design, build and support high quality learning communities. eCollege’s Educational Partners include such institutions as National University, Seton Hall University, University of Colorado, DeVry University, Inc., Kentucky Virtual High School, and Microsoft Faculty Center. The company was founded in 1996 and is headquartered in Denver. For more information, visit