Apollo Group Class Action Filed by Schoengold Law Firm, Assigned Judge and Civil Action Number

Market Wire, November, 2006

On November 2, 2006, the law firm of Schoengold Sporn Laitman & Lometti, P.C. ("SSL&L"), on behalf of its client, International Brotherhood of Teamsters Local 617 Pension & Welfare Funds, filed a class action lawsuit in the U.S. District Court for the District of Arizona against Apollo Group, Inc. ("Apollo" or the "Company") (NASDAQ: APOL). The action was brought on behalf of all persons and entities who purchased or otherwise acquired Apollo securities during the period November 28, 2001 through October 18, 2006.

Pursuant to the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), SSL&L issued a press release that same day advising the public of the pendency of the lawsuit and stating that the deadline to seek lead plaintiff status in the case expires January 2, 2007.

The case recently was assigned to District Judge Robert C. Broomfield and was assigned a civil action number of 06-2674-PHX-RCB.

The SSL&L law firm has been specializing in securities class actions for over 40 years. Since 2002, SSL&L has settled six securities cases as a lead or co-lead counsel, helping to recover more than $131 million for defrauded shareholders.

Courts continue to note the firm's high caliber of representation. United States District Judge Colleen McMahon, in Maley v. Del Global Techs. Corp., 00-CV-8495 (S.D.N.Y. 2002), a case in which SSL&L acted as sole lead counsel, commended the firm for "going the extra mile" in obtaining an unprecedented settlement for the class: "Through Schoengold [Sporn Laitman & Lometti]'s efforts, after intensive investigation, concentrated litigation and extensive arm's-length bargaining, and without the benefit of any governmental agency's investigation, Class Counsel have secured a settlement fund which confers an excellent benefit to the Class..."

More recently, in 2005, United States District Judge Julie A. Robinson, in In re Westar, Inc. Sec. Litig., No. 03-cv-4003-JAR (D. Kan. 2005), where SSL&L again acted as sole lead counsel, stated: "[The Class is] represented by Class Counsel [SSL&L] who are highly experienced in securities class action litigation, are more than competent to conduct this action, and have diligently represented the Class before the Court... They have brought unique and creative allegations... The attorneys have great experience, a national reputation, and substantial ability."

For further information:

Please visit Schoengold Sporn Laitman & Lometti's website at www.spornlaw.com or contacting Schoengold Sporn Laitman & Lometti, toll free at (866) 348-7700 or via e-mail at shareholderrelations@spornlaw.com .

CONTACT: Jay P. Saltzman, Esq. Ashley Kim, Esq. Schoengold Sporn Laitman & Lometti, P.C. 19 Fulton Street, Suite 406 New York, New York 10038 Tel: (212) 964-0046 Fax: (212) 267-8137 Toll Free: (866) 348-7700 E-Mail: Email Contact Website: www.spornlaw.com