Steffey - Chairman of Strayer University Trustees - Announces He Has Stepped Down to Pursue Other Interests in the Education Industry

Business Wire, May 25, 2005

NEW YORK -- Scott W. Steffey, Chairman of the Board of Trustees for Strayer University, announced that he has left his position to pursue other interests in the Education Industry. Strayer University is a wholly owned subsidiary of Strayer Education, Inc. (NASDAQ: STRA). Mr. Steffey served as Executive Vice President and Chief Operating Officer of Strayer Education, Inc. as well as Chairman of the Board of Trustees for Strayer University from April 2001 to May 2004, when he announced that he was leaving his role as Executive Vice President and Chief Operating Officer. He continued to serve as Chairman of the Board of Trustees (a non-executive and non-employee position), until now. The Board of Trustees oversees educational policy issues and meets twice annually. His resignation was effective on May 17, 2005.

"I want to look more closely at other opportunities in the Education Industry, as well as expanding Symposium Ventures," said Mr. Steffey. "I've had a great time working with Strayer, and wish everyone there all the best." Since leaving his position as Executive Vice President and Chief Operating Officer at Strayer Education, Inc., Mr. Steffey has been operating an education advisory firm, Symposium Ventures, which provides services for hedge funds, equity firms, private investors, as well as postsecondary and K-12 institutions.

During his three year tenure at Strayer Education, Inc., he directly oversaw all business and academic activities of the University. He was directly responsible for a major expansion of the company including gaining approval to operate in Pennsylvania, North Carolina, South Carolina, Tennessee, Georgia and Florida; opening more than a dozen campuses; nearly doubling enrollment; maintaining industry leading operating margins (according to analyst reports); as well as introducing asynchronous online classes which now serve more than 11,000 students. During this period the University expanded its undergraduate and graduate program offerings and enjoyed 12 consecutive quarters of double digit new and continuing student enrollment growth.

Prior to joining Strayer Education, Inc., Mr. Steffey was an Executive in Residence at New Mountain Capital and played a lead role in securing the $150 million investment to recapitalize Strayer Education, Inc., and in gaining the approval from Strayer's Board of Directors for the recapitalization. From 1996 to 2000 he served as Vice Chancellor of the State University of New York, the nation's largest system of postsecondary education. He held senior positions at NYNEX (Verizon), including President of NYNEX Computer Services Company, as well as American Express.

Symposium Ventures is located at PO BOX 101, Lyme, New Hampshire, 03768 (603-795-2146 phone, 603-795-2145 fax).