Senior Toggle Notes

06/02/2009


Baltimore, February 6, 2009 - Laureate Education, Inc. ("Laureate") announced today that it has commenced two cash tender offers, one to purchase the maximum aggregate principal amount of its 10 1/4%/11% Senior Toggle Notes due 2015 (the "Toggle Notes") that it can purchase for $20 million and one to purchase the maximum aggregate principal amount of its 11 3/4% Senior Subordinated Notes due 2017 (the "Subordinated Notes" and, together with the Toggle Notes, the "Notes") that it can purchase for $20 million, each at a purchase price per $1,000 principal amount determined in accordance with the procedures of a modified "Dutch Auction." The terms and conditions of the tender offers are described in the Offer to Purchase dated February 6, 2009 (the "Offer to Purchase"), and related letter of transmittal, copies of which may be requested from Global Bondholder Services Corporation, the Information Agent for the tender offers, using the phone numbers set forth below. Neither tender offer is conditioned on financing, Laureate's receipt of a minimum amount of tendered Notes in such tender offer or the completion of the other tender offer.


Security Description

CUSIP Nos.
and
ISIN Nos.


Outstanding
Principal Amount

Early
Participation Payment(1)

Total Consideration (Acceptable Bid
Price Range)(1)

Maximum
Payment
Amount

10 1/4%/11% Senior Toggle Notes
due 2015

518613AB0
US518613AB07

U51388AB9
USU51388AB96

$448,073,440

$30.00

$520.00 - $620.00

$20,000,000

11 3/4% Senior Subordinated Notes
due 2017

518613AC8
US518613AC89

U51388AC7
USU51388AC79

$310,000,000

$30.00

$520.00 - $620.00

$20,000,000

__________________________
(1)Per US$1,000 principal amount of Notes that are accepted for purchase.


The total consideration payable under a tender offer per $1,000 principal amount of Notes will be equal to the "clearing price" for that tender offer to be determined pursuant to a modified "Dutch Auction." The clearing price for a tender offer will be determined by consideration of the "bid price" specified by each holder that tenders Notes into that tender offer in order of lowest to highest bid price. A holder's bid price represents the minimum consideration such holder is willing to receive for those Notes. Each bid price must fall within the acceptable bid price range specified in the table above.


The clearing price for a tender offer will be the lowest bid price such that for all tenders of Notes whose bid price is equal to or less than this lowest single bid price, Laureate will be able to purchase the maximum payment amount for that tender offer. If the principal amount of Notes tendered in a tender offer is less than the maximum payment amount for that tender offer, the clearing price will be the highest bid price with respect to any Note validly tendered in that tender offer.


If the aggregate amount of Notes validly tendered (and not withdrawn) in a tender offer at or above the clearing price would cause Laureate to purchase more than the maximum payment amount for that tender offer, then, subject to the terms and conditions of that tender offer, Laureate will accept for purchase, first, all Notes validly tendered (and not withdrawn) with a bid price that is less than the clearing price for that tender offer, and, thereafter, Notes validly tendered (and not withdrawn) with a bid price equal to the clearing price for that tender offer on a prorated basis.


In addition, Laureate will also pay accrued and unpaid interest on all Subordinated Notes tendered and accepted for payment in the tender offer from the last interest payment date to, but not including, the date on which the Subordinated Notes are settled. Because the Toggle Notes accrue pay-in-kind interest and not cash interest, no accrued interest will be payable with respect to the Toggle Notes on the date on which the Toggle Notes are settled. Accrued and unpaid pay-in-kind interest on the Toggle Notes will not be included in determining the principal amount of any Toggle Notes tendered in the Tender Offer for the Toggle Notes.


Each bid price submitted with tendered Notes will include an "early participation payment" of $30.00 per $1,000 principal amount of Notes. Holders must validly tender (and not withdraw) their Notes on or prior to 5:00 p.m., New York City time, on February 20, 2009, unless extended with respect to a tender offer (the "Early Participation Date") in order to be eligible to receive the early participation payment. Holders tendering their Notes after the Early Participation Date for a tender offer will not be eligible to receive the early participation payment. The tender offer is scheduled to expire at 5:00 p.m., New York City time, on March 9, 2009, unless extended or earlier terminated with respect to a tender offer (the "Expiration Date").


Tendered Notes may be withdrawn at any time on or prior to 5:00 p.m., New York City time, on February 20, 2009, unless extended with respect to a tender offer (the "Withdrawal Date"). Holders of Notes who tender their Notes after the Withdrawal Date for a tender offer, but on or prior to the Expiration Date for that tender offer, may not withdraw their tendered Notes with respect to that tender offer.


Notwithstanding the above description of determining the total consideration for a tender offer pursuant to a modified "Dutch Auction," on or after the Early Participation Date for a tender offer, but no later than 9:00 a.m., New York City time, on the business day next following such Early Participation Date, Laureate has the right to amend that tender offer so that the total consideration payable in that tender offer is a fixed amount and not dependent on subsequent bid prices in that tender offer.


Laureate has retained Citi to serve as dealer manager for the tender offers and Global Bondholder Services Corporation to serve as the depositary and information agent. Copies of the Offer to Purchase and the related letter of transmittal may be obtained from Global Bondholder Services Corporation at +1(866) 470-4300 (toll free) or +1(212) 430-3774 (charged call). Questions regarding the tender offers may be directed to Citi at +1(800) 558-3745 (toll free).


This press release does not constitute an offer to purchase or a solicitation of any offer to sell the Notes or any other securities. The tender offers are being made solely by the Offer to Purchase dated February 6, 2009 and the related letter of transmittal.


The tender offers are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the tender offers to be made by a licensed broker or dealer, the tender offer will be deemed to be made on behalf of Laureate by the dealer manager, if the dealer manager is a licensed broker or dealer under the laws of such jurisdiction, or by one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.


About Laureate Education, Inc.
Laureate Education, Inc., a Maryland corporation headquartered in Baltimore, Maryland, is a leading international provider of higher education services. Laureate International Universities is our global network of 43 accredited campus-based and online universities offering undergraduate and graduate degree programs to nearly 500,000 students around the world. Laureate International Universities' students are part of an international, academic community that spans 20 countries and more than 100 campuses throughout North America, Latin America, Europe, and Asia. Laureate International Universities offer more than 130 career-focused, undergraduate, master's and doctoral degree programs in fields including engineering, education, business, medicine, law, architecture, health sciences, hospitality, culinary arts, and information technology. For more information, visit http://www.laureate-inc.com.


Media Contact:
Debra Epstein
1-443-627-7763
debra.epstein@laureate-inc.com