Forward-Looking Statements

2. Forward-Looking Statements Certain information contained in this presentation may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described in the Company's most recent Annual Report on Form 10-K for the year ending June 30, 2005 filed with the SEC on September 13, 2005. In particular, this information is set forth in the section entitled "Forward Looking Statements" at the beginning of Part I and in the subsections of "Item 1 - Business" entitled "Competition," "Student Recruiting," "Accreditation and Approvals," "Tuition and Fees," "Financial Aid and Financing Student Education," "Career Services” and “Faculty."

4. Meeting Market Demand

5. Largest division • 46,000+ students (Fall 2005) • 81 locations across North America • Campuses • Centers • Online options • Mix and match • Hybrid

6. DeVry University Degree Programs

7. +16.4% (Over 2005) +7.3% (Over 2004) +6.4% (Over 2004) Spring 2006 Summer 2005 Fall 2005 New Student Enrollment

8. Technology Sector Technology slow to recover • Layoffs at technology companies • Perceptions about outsourcing • Low production of new engineers andtechnology workers in U.S. comparedto China and India

9. Engineering Graduates 600,000 China 70,000 U.S. 350,000 India Study published October 13, 2005, by National Academies

10. +5% (Over 2004) +9.4% (Over 2005) +12.3% (Over 2004) September 2005 January 2006 March 2006 2005 Enrollment Results

11. One of world’s largest medical and veterinary schools • Over 6,000 alumni • U.S.-modeled curriculum • New student enrollment increased67.5% compared to January 2005 • Enhanced marketing efforts and outreach • Adding capacity to meet enrollment demand

12. Deaconess College of Nursing • 500 students • Bachelor’s and associate degree programs • Onsite and online delivery • Nursing shortage • Possible co-location with DeVry University sites • Expansion pending state approvals

13. Nearly 40,000 students enrolled in 2005 • Posted record revenue in 2005: $44M • Poised for record year in 2006 • Acquired CPE business • New marketing and international expansion initiatives

14. Annual Revenues In Millions

15. Net Income In Millions *Results include non-recurring pre-tax charges of $10.3M

16. Revenue Third Quarter In Millions +9%

17. Revenue First Nine Months In Millions +7.2%

18. Net Income Third Quarter +44% In Millions

19. Net Income First Nine Months In Millions +77%

20. Vision & Strategy for the FutureRecapture Operating Leverage • Re-establish younger student population • Meet the needs of adult students • Further program diversification • Online student growth • Geographic expansion • Optimization of existing sites

21. Technology Business Healthcare Program Diversification • 11 Concentrations within BSBA • Biomedical Technology Programs • Game & Simulation Programming • Accounting Technology • Healthcare: Medical, Veterinary Medical and Nursing BMI BSTM HIT BMET

22. Real Estate StrategyOptimize Our Large Campus Footprint

23. Enhance the Student Experience • Student life • Student services • Consistent brand awareness

24. Vision Statement DeVry will become the leading global provider of career-oriented educational services. We will create value for society and all our stakeholders by offering: • Superior, responsive educational programs, that are • Supported by exceptional service to students, and • Delivered with accountability and integrity

25. Investment Considerations • Nationally recognized brands synonymous with high-quality education • Strong market demand for education • Opportunity to significantly increase operating leverage • Management committed to implementation of growth plan