Press Release: March 29, 2000

WR Hambrecht + Co Initiates Coverage of DeVry, Inc. (DV) With a Buy Rating and Target of $30

Company expects increased revenues from eLearning segment

San Francisco, CA, March 29, 2000—WR Hambrecht + Co today initiated research coverage on DeVry, Inc. (DV) with a buy rating and a price target of $30. WR Hambrecht + Co’s eLearning analyst Trace Urdan cited DeVry’s established reputation in education services and emphasis on expanding its eLearning capabilities as key reasons for the rating. WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.

"We believe DeVry represents an appealing way to participate in the rapid growth of the eLearning market. DeVry’s strong brand awareness and expanded online product offerings should help it achieve a strong position in the market, and shareholders will likely realize the benefits of this," said Urdan.

Urdan projects DeVry’s total revenues will reach $506.5 million in 2000 and $597.4 million in 2001, up from the 1999 total of $420.6 million.

DeVry, Inc. owns and operates the DeVry Institutes of Technology, the Keller Graduate School of Management, Becker Conviser CPA Review and Denver Technical College.