BALTIMORE, Nov 22, 2006 (BUSINESS WIRE) -- Laureate Education, Inc. (NASDAQ:LAUR), the world's leading international provider of higher education, announced a partnership with Istanbul Bilgi University, one of the top private universities in Turkey.
Douglas Becker, Chairman and Chief Executive Officer of Laureate Education stated, "Bilgi is now a proud member of the Laureate International Universities network and will begin to enjoy the many benefits of membership, including increased access to online education, dual-degree programs, study abroad programs, global career placement and shared curricula from other network institutions worldwide." We are excited that Istanbul Bilgi University has joined the Laureate network to serve increasing numbers of aspiring students in Turkey and the region. Bilgi's academic and social mission will significantly add to the cultural and academic richness of Laureate's international network."
Founded in 1996, Istanbul Bilgi University (http://www.bilgi.edu.tr) enrolls approximately 9,000 students through three campuses located in central Istanbul. This private, non-profit institution offers over 48 undergraduate and graduate degree programs in the fields of Business, Communications, Economics, Finance, Law and The Arts and Sciences. Istanbul Bilgi University is a member of the European University Association (EUA), the International Association of Universities (IAU) and the OECD/IMHE (Program on Institutional Management in Higher Education).
Turkey has enjoyed solid GDP per capita growth and one of the fastest growing populations in Europe. According to the Turkish Higher Education Council, post-secondary enrollments in Turkey have increased at a compound annual growth rate of 7.9% to over 2 million students from 1995 to 2004.
As part of this partnership, Laureate has invested in a new company which will provide certain education, management and student services to Istanbul Bilgi University. Bilgi University is a non-profit foundation university. This transaction will not materially impact the Company's 2006 and 2007 Earnings Outlook.
About Laureate Education, Inc.
Laureate Education, Inc. (NASDAQ:LAUR) is focused on providing a superior university experience to over 240,000 students through the leading global network of accredited campus-based and online universities. Addressing the rapidly growing global demand for higher education, Laureate offers a broad range of career-oriented undergraduate and graduate programs through campus-based universities located in Latin America, Europe, and Asia. Through online universities, Laureate offers the growing population of non-traditional, working-adult students the convenience and flexibility of distance learning to pursue undergraduate, master's and doctorate degree programs in major career fields including engineering, education, business, and healthcare. For more information, please visit our website, www.laureate-inc.com.
Forward Looking Statements
This release includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties. Although the Company believes that expectations reflected in such forward-looking statements are based upon reasonable assumptions, the Company's actual results could differ materially from those described in the forward-looking statements.
The following factors might cause such a difference:
-- The Company's operations can be materially affected by competition in its target markets and by overall market conditions, among other factors.
-- The Company's foreign operations, in particular, are subject to political, economic, legal, regulatory and currency-related risks.
Additional information regarding these risk factors and uncertainties is detailed from time to time in the Company's filings with the Securities and Exchange Commission, including but not limited to our most recent Forms 10-K and 10-Q, available for viewing on our website. (To access this information on our website, please click on "Investor Relations," "SEC Filings.")
SOURCE: Laureate Education, Inc.