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Business Description
Laureate Education Inc., formerly Sylvan Learning Systems, Inc., is focused exclusively on providing a university experience to over 130,000 students through a global network of accredited campus-based and online universities. Addressing the rapidly growing global demand for higher education, Laureate offers a broad range of career-oriented undergraduate and graduate programs through campus-based universities located in Latin America and Europe. Through online universities, Laureate offers the growing population of non-traditional, working-adult students the convenience and flexibility of distance learning to pursue undergraduate, master's and doctorate degree programs in major career fields including engineering, education, business and healthcare.

Financial Information
For the nine months ended 9/30/04, revenues rose 37% to $436.5 million. Net income from continuing operations totaled $35.6 million vs. a loss of $19.7 million. Results reflect enrollment growth, campus acquisitions, and the absence of an $8.4 million ventures non-operating expense.