A summary of the company's financial report:

- Full-year 2004 revenues increased 37% to $648.0 million.

- Fourth quarter 2004 revenues increased 37% to $211.5 million

- Total operating income for 2004 increased to $91.2 million

- Total operating income for the fourth quarter 2004 increased 31% to $47.8 million

- Income from continuing operations for 2004 was $82.7 million or $1.69 per diluted share

- Income from continuing operations for the Q4 2004 was $47.0 million or $0.92 per diluted share

Laureate Education also announced the sale of Wall Street Institute, its English language instruction subsidiary, in exchange for estimated total consideration of approximately $40 million. In connection with the transaction, Laureate Education recognized a net tax benefit of $12.0 million or $0.23 per diluted share for the year and $0.25 per diluted share for the fourth quarter.

Announced during the fourth quarter, Laureate Education acquired the remaining 22.3% interest in Universidad Europea de Madrid (UEM) from the minority shareholders in exchange for Euros 29 million and a parcel of non-adjacent land owned but not used by the University. Laureate Education recognized an after-tax gain of $4.4 million or $0.09 per diluted share based on the realized appreciation in the land tendered in partial payment of the purchase price.

Laureate Online Education, it's distance learning business unit, reported total degree enrollments increased 33% to 20,988 students at December 31, 2004, compared to 15,768 students at December 31, 2003. Excluding the acquisition of Netherlands-based Laureate Online Education B.V. (formerly KIT eLearning), total online distance learning degree enrollment increased 23%, driven by a 146% increase in new student enrollment. At December 31, 2004, Walden University reported a 66% year-over-year increase in total degree enrollments and a 122% increase in new distance learning student enrollments. Campus-Based enrollment increased 35% year-over-year to 138,394 students.

Laureate Education also announced that it is merging its wholly owned National Technological University with Walden University and creating the NTU School of Engineering & Applied Sciences at Walden University. This follows the previously announced transaction wherein the Company acquired the remaining 49% interest in Walden from its minority shareholder allowing Laureate Online Education, the distance learning unit, to combine and integrate its online assets around its centerpiece, Walden University.

Douglas Becker, Chairman and Chief Executive Officer of Laureate Education stated, "Our outstanding financial performance in 2004 was driven by strong enrollment growth at our campuses and accelerating growth in Online distance learning programs. This success enabled us to deliver earnings growth of nearly 40%, while making substantial investments for future growth such as opening new campuses, developing new online programs and laying groundwork for our entry into new countries."

Laureate Education now operates institutions of higher education and distance learning in 11 countries, offering programs through 42 campus locations and online to students from over 80 countries.

Laureate Education is focused exclusively on providing classroom and distance learning university experiences to nearly 160,000 students through the leading global network of accredited campus-based and online distance learning universities. Laureate offers a broad range of career-oriented undergraduate and graduate distance learning programs and campus-based universities located in Latin America, Europe, and Asia. Through online distance learning 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.