COCO Vita Coco Company Inc

Corinthian Colleges Reports Final Resolution of U.S. Department of Education Program Review of San Jose Campus - No Material Impact on Financial Condition - SANTA ANA, Calif., May 12 /PRNewswire-FirstCall/ -- Corinthian Colleges, Inc. (NASDAQ:COCO) has received a Final Determination Letter from the U.S. Department of Education that resolves the program review conducted at the Company's Bryman College-San Jose campus in December 2003. The Final Determination Letter requires the return of a net amount of $776,241 to the Department, the Perkins Fund and Federal Family Education Loan program lenders. No fines or penalties were assessed, and Bryman's continued eligibility to receive Title IV student financial aid funds was not affected. Corinthian confirmed it has already reserved sufficient funds to make the required payment and that, as previously stated, the payment would not have a material adverse impact on its financial condition or results of operations. "We are pleased to have brought this matter to a conclusion," said Jack Massimino, Corinthian's President and Chief Executive Officer. "We worked cooperatively with the Department from the outset of this program review to address the issues that were created by certain personnel at the campus who are no longer employed by Corinthian. We appreciate the Department's willingness to work with us, and believe that we have strengthened our controls and compliance procedures as a result." About Corinthian Colleges, Inc. Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America, operating 94 colleges in 24 states in the U.S. and 41 colleges (including six colleges scheduled for closure in fiscal 2005) and 15 corporate training centers in seven provinces in Canada. The Company's mission is to help students prepare for careers that are in demand or to advance in their chosen career. Corinthian offers diploma programs and master's, bachelor's and associate's degrees in a variety of fields, concentrating on careers in health care, business, criminal justice, transportation maintenance, trades and technology. Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995, including, without limitation, the company's statement of beliefs regarding its strengthened controls and compliance procedures. The Company intends that all such statements be subject to the "safe-harbor" provisions of that Act. Many important factors may cause the Company's actual results to differ materially from those discussed in any such forward-looking statements, including, without limitation, possible deviation by certain of the company's personnel from its regulatory compliance policies and procedures, and the other risks and uncertainties described in the Company's filings with the U.S. Securities and Exchange Commission. The historical results achieved by the Company are not necessarily indicative of its future prospects. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: Corinthian Colleges, Inc. CONTACT: investors, Anna Marie Dunlap, SVP Investor Relations/Corporate Communications of Corinthian Colleges, Inc., +1-714-424-2678; or media, Rosemary Moothart of PondelWilkinson, Inc., +1-310-279-5980, for Corinthian Colleges, Inc.

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