KGS Announces That a Class Action Has Been Filed Against Apollo Group Inc. and Clarifies Schoengold Firm's Press Release -- (NASDAQ: APOL)

On November 6, 2006, Kahn Gauthier Swick, LLC ("KGS") announced that a class action lawsuit was filed in the United States District Court for the District of Arizona on behalf of shareholders who purchased, exchanged or otherwise acquired the common stock and other securities of Apollo Group Inc. ("Apollo" or the "Company") (NASDAQ: APOL) between November 28, 2001 and October 18, 2006. KGS clarifies misconceptions perpetrated by Schoengold Sporn Laitman & Lometti, P.C. ("Schoengold") in its press release dated November 8, 2006, which could mislead investors of their rights under the Private Securities Litigation Reform Act of 1995 ("PSLRA").

The PSLRA does not require investors to file a suit as the Schoengold firm has done on behalf of its client. Rather, the PSLRA permits shareholders who seek to be appointed lead plaintiff pursuant to the PSLRA to file a motion with the court seeking such appointment, within 60 days of the date of the announcement of the first-filed suit. In the Apollo securities fraud class action, KGS' press release is, on its face, a communication to class members who may have a desire to seek lead plaintiff appointment, and KGS invites such shareholders to ACT NOW, AS YOU HAVE ONLY UNTIL JANUARY 2, 2006, TO MOVE THE COURT TO SERVE AS LEAD PLAINTIFF. To learn what factors distinguish KGS from the Schoengold firm, and to discuss your legal rights, without obligation or cost to you, you may call to speak with Managing Partner Lewis Kahn directly at 1-866-467-1400, ext. 100, or 504-648-1850, or by email at lewis.kahn@kglg.com , or you may visit KGS' website www.kglg.com .

KGS encourages investors to investigate the qualifications of any counsel they may choose to represent them in the Apollo securities class action. Choice of counsel can significantly impact the success of the Apollo litigation. Accordingly, KGS invites shareholders to read a copy of the United States Court of Appeals for the Second Circuit's decision in another securities fraud litigation, stating that "Lead Counsel [Schoengold] was either pursuing meritless litigation in order to force a settlement with respect to attorneys' fees -- precisely the behavior the securities laws and Rule 11 abhor -- or, equally abhorrent, Lead Counsel was willing to jettison the meritorious claims of its clients in order to obtain attorneys' fees." For a full copy of this decision, you may email Lewis Kahn at lewis.kahn@kglg.com , or call directly at 1-866-467-1400, ext. 100, or 504-648-1850.

Contact: Lewis Kahn KGS 1-866-467-1400, ext. 100 504-648-1850 email: lewis.kahn@kglg.com ,