COCO Vita Coco Company Inc

Corinthian Colleges' Bryman San Jose Campus Returned to Advance Payment Status SANTA ANA, Calif., Sept. 22 /PRNewswire-FirstCall/ -- Corinthian Colleges, Inc. (NASDAQ:COCO) announced today that the U.S. Department of Education (DOE) has returned the Bryman College campus in San Jose, California to the DOE's advance system of funding, effective immediately. This action ends the school's period on the DOE's reimbursement system. The notification from the DOE stated that the change in status was based, in part, on the school's ability to demonstrate that it can comply with the rules and regulations of the Federal Title IV programs. The notification added that the San Jose campus's return to the advance payment system is without restriction and that the school will be responsible for monitoring its own compliance with Title IV requirements. Further, the Department approved a pending request for reimbursement and stated that any remaining funds to be paid can now be handled directly through the advance payment system. "We take all issues of regulatory compliance seriously and are gratified that the campus has been restored to the advance payment system," said David G. Moore, Corinthian's chairman and chief executive officer. "Our compliance and internal audit professionals are continuing to work with the DOE to resolve the issues identified in the DOE's program review report and expect to respond to that report by December 15, 2004. We appreciate the DOE's decision to remove the school from reimbursement." The Bryman - San Jose campus was placed on reimbursement status based on a DOE program review examining the school's administration of Title IV program funds. During the reimbursement status period, Bryman-San Jose continued to operate without interruption in the delivery of its education and training programs to students. The delay in receipt of Title IV funds at this one school had an immaterial financial impact on Corinthian's financial performance. About Corinthian Colleges, Inc. Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America, and serves the large and growing segment of the population seeking to acquire career-oriented education to become more qualified and marketable in today's increasingly demanding workplace. Corinthian's colleges offer master's, bachelor's and associate's degrees and diploma programs in a variety of fields, with a concentration on careers in health care, business, criminal justice and technology. Corinthian operates 91 colleges in 23 states in the U.S., and 45 colleges (including 10 campuses scheduled to close in fiscal 2005) and 15 corporate training centers in seven Canadian provinces. Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. 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 the 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: Dennis Beal, EVP/CFO of Corinthian Colleges, Inc., +1-714-427-3000, ext. 432; or Cecilia Wilkinson, or Rosemary Moothart, both of PondelWilkinson Inc., +1-310-279-5980, for Corinthian Colleges, Inc. x

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