PITTSBURGH, April 14, 2003 (PRIMEZONE) -- Education Management Corporation (Nasdaq:EDMC) today announced the appointment of Martin L. Garcia to its Board of Directors. Mr. Garcia, 47, has been the Managing Director of Pinehill Capital Partners, an investment company, since 2000. In addition, Mr. Garcia is the Founder, Director, and President of Garcia Enterprises, a real estate holding company formed in 1988. He also serves on the boards of Parkway Properties, Inc., a real estate investment trust, and PlanVista Corporation, a healthcare services company. Mr. Garcia received a B.A. in accounting from the University of South Florida in 1978 and a J.D. from Wake Forest University in 1981, where he was recently nominated to serve as a trustee. Robert Knutson, EDMC's Chairman and Chief Executive Officer, commented, "Martin Garcia brings a wealth of experience to EDMC and we are very pleased to have him join our Board of Directors."
Education Management Corporation (www.edmc.com) is among the largest providers of private post-secondary education in North America, based on student enrollment and revenue, with approximately 44,000 students as of fall 2002 at 43 primary campus locations in 26 major cities. EDMC's education institutions offer a broad range of academic programs concentrated in the creative and applied arts, behavioral sciences, education and business fields, culminating in the award of associate's through doctoral degrees. EDMC has provided career-oriented education for 40 years, and its education institutions have more than 150,000 alumni.
This press release may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the Company's Securities and Exchange Commission filings. Past results of EDMC are not necessarily indicative of its future results. EDMC does not undertake any obligation to update any forward-looking statements.