Exhibit 99.1

		Apollo Group, Inc.   News Release

APOLLO GROUP, INC. REPORTS FISCAL 2011

FOURTH QUARTER AND YEAR END RESULTS

Phoenix, October 19, 2011 — Apollo Group, Inc. (NASDAQ: APOL) (“Apollo Group,” “Apollo” or the “Company”) today reported financial results for the three months and fiscal year ended August 31, 2011.

“We set out at the beginning of 2011 to implement leading-edge student protections, differentiate University of Phoenix, and expand our business,” said Apollo Group Co-Chief Executive Officer Chas Edelstein. “We are pleased with our progress in each of these areas, including enhancing our student-centric approach to admissions, launching University Orientation, investing in our learning platform, and advancing our plans to incorporate adaptive learning and connect education to careers.”

Apollo Group Co-Chief Executive Officer and Apollo Global Chairman Greg Cappelli added, “Through our focus on academic quality and innovation, we are aligning learning outcomes to student and employer needs and helping to bridge the workforce skills gap, one of the biggest issues facing our economy today. Our commitment is to support our students in achieving long-term success.”

Unaudited Fourth Quarter of Fiscal 2011 Results of Operations

Consolidated net revenue for the fourth quarter of fiscal 2011 totaled $1,122.1 million, which represents a 10.9% decrease from the fourth quarter of fiscal 2010, principally due to lower enrollments at University of Phoenix, partially offset by selective tuition price and other fee changes and improving rates of student retention. For the quarter, University of Phoenix Degreed Enrollment decreased 19.1% to 380,800 compared with the prior year fourth quarter, primarily due to decreases in New Degreed Enrollment in recent quarters, including a 33.5% decrease in New Degreed Enrollment in the fourth quarter of fiscal 2011 compared with the prior year period. The Company believes the decline in New Degreed Enrollment was primarily the result of the operational changes and initiatives it has implemented to more effectively support students and improve educational outcomes, as well as the broader competitive environment. The operational changes included the manner in which admissions personnel and other employees are evaluated and compensated, the full implementation of University Orientation, and the Company’s efforts to more effectively identify students who have a greater likelihood to succeed in University of Phoenix’s educational programs.

The Company reported income from continuing operations attributable to Apollo Group for the three months ended August 31, 2011, of $188.6 million, or $1.37 per share (137.3 million weighted average diluted shares outstanding), compared to income from continuing operations attributable to Apollo Group of $47.5 million, or $0.32 per share (148.3 million weighted

average diluted shares outstanding) for the three months ended August 31, 2010. Results for the fourth quarters of fiscal 2011 and 2010 included a number of special items that are detailed below.

Results for the fourth quarter of fiscal 2011 included the following:

Results for the fourth quarter of fiscal 2010 included the following:

Excluding the items noted above, income from continuing operations attributable to Apollo Group for the three months ended August 31, 2011, was $139.6 million, or $1.02 per share, compared to income from continuing operations attributable to Apollo Group of $193.9 million, or $1.31 per share for the three months ended August 31, 2010. (See the reconciliation of GAAP financial information to non-GAAP financial information in the tables section of this press release.)

Operating Expenses

Instructional and student advisory expenses decreased by $6.8 million, or 1.5%, to $438.5 million for the three months ended August 31, 2011, compared to the three months ended August 31, 2010. The decrease was primarily due to a reduction in faculty costs associated with lower University of Phoenix and Apollo Global enrollment, partially offset by investment in initiatives to more effectively support students and improve their educational outcomes. These initiatives have resulted in increased compensation expense related to certain student advisory and infrastructure support functions.

Marketing expenses decreased by $8.2 million, or 4.6%, to $171.0 million for the three months ended August 31, 2011, compared to the three months ended August 31, 2010. The decrease was primarily a result of a reduction in internet spending, partially offset by investments in non-internet branding.

2

Admissions advisory expenses decreased by $17.2 million, or 14.7%, to $99.4 million for the three months ended August 31, 2011, compared to the three months ended August 31, 2010. The decrease was a result of lower admissions advisory headcount, partially offset by higher average employee compensation costs.

General and administrative (“G&A”) expenses increased by $12.4 million, or 14.3%, to $98.7 million for the three months ended August 31, 2011, compared to the three months ended August 31, 2010. The increase was primarily attributable to nonrecurring costs to support the formation and independence of Nexus, an educational policy and research organization.

The provision for uncollectible accounts receivable (“bad debt expense”) decreased by $34.4 million, or 46.5%, to $39.6 million for the three months ended August 31, 2011, compared to the three months ended August 31, 2010. The decrease was primarily attributable to reductions in gross accounts receivable as a result of decreases in University of Phoenix enrollment, a shift in the mix of students from Associates to Bachelors degree level programs, and the full implementation of University Orientation, which has favorably impacted student retention rates. Improved collection rates at University of Phoenix, which were favorably impacted by ongoing business process improvements and an initiative to address the Company’s oldest receivables, also contributed to the decrease.

Depreciation and amortization increased by $2.7 million, or 6.9%, to $41.6 million for the three months ended August 31, 2011, compared to the three months ended August 31, 2010. The increase was primarily due to capital expenditures in fiscal years 2010 and 2011 related to information technology, network infrastructure and software, partially offset by a decrease in amortization of BPP intangible assets.

3

Financial and Operating Metrics

Below are Apollo Group’s unaudited financial data and operating metrics for the fourth quarter of fiscal 2011 versus the prior year period.

4

2011 Fiscal Year Results of Operations

Consolidated net revenue for the fiscal year ended August 31, 2011, was $4.7 billion, a 3.9% decrease from fiscal year 2010. The decrease in consolidated net revenue was primarily attributable to a 9.2% decrease in University of Phoenix’s average Degreed Enrollment in fiscal year 2011 compared to fiscal year 2010, principally due to a 40.3% decrease in aggregate New Degreed Enrollment for the four quarters of fiscal 2011, as compared to fiscal 2010. The decrease was partially offset by selective tuition price and other fee changes at University of Phoenix and improving rates of student retention.

The Company reported income from continuing operations attributable to Apollo Group of $569.9 million, or $4.02 per share, (141.8 million weighted average diluted shares outstanding) for the fiscal year ended August 31, 2011, compared to $568.4 million, or $3.72 per share, (152.9 million weighted average diluted shares outstanding) for the fiscal year ended August 31, 2010.

Results for the fiscal years 2011 and 2010 contained special items, which are detailed in the reconciliation of GAAP financial information to non-GAAP financial information tables of this press release.

Excluding these special items, income from continuing operations attributable to Apollo Group for the fiscal year ended August 31, 2011, was $700.2 million, or $4.94 per share, compared to income from continuing operations attributable to Apollo Group of $817.7 million, or $5.35 per share for the fiscal year ended August 31, 2010. (See the reconciliation of GAAP financial information to non-GAAP financial information in the tables section of this press release.)

Unaudited Balance Sheet

As of August 31, 2011, the Company’s cash and cash equivalents, excluding restricted cash, totaled $1,571.7 million, compared to $1,284.8 million as of August 31, 2010. The increase was primarily attributable to cash generated from operations, proceeds from the sale-leaseback of the Company’s principal office buildings in Phoenix, Arizona, and the return of funds associated with the release of the Company’s cash-collateralized letter of credit in the amount of approximately $126 million in connection with a previous program review of University of Phoenix by the U.S. Department of Education. The increase was partially offset by share repurchases and capital expenditures.

At August 31, 2011, accounts receivable decreased to $215.6 million from $264.4 million at August 31, 2010. Excluding accounts receivable and the associated net revenue for Apollo Global, the Company’s days sales outstanding (“DSO”) was 23 days at August 31, 2011, compared to 30 days at August 31, 2010. The decrease in DSO versus a year ago was primarily attributable to reductions in gross accounts receivable as a result of decreases in University of Phoenix enrollment, a shift in the mix of students from Associates to higher degree-level programs, and improvements in student retention rates, partially due to the full implementation of University Orientation. Improved collection rates at University of Phoenix, which were favorably impacted by ongoing process improvements, also contributed to the decrease.

5

Total debt outstanding (including short-term borrowings and the current portion of long-term debt) increased by $14.6 million to $599.0 million at August 31, 2011, from $584.4 million at August 31, 2010. Subsequent to August 31, 2011, the Company repaid $390.1 million of the amount drawn on its revolving credit facility.

Share Repurchases

The Company repurchased approximately 7.7 million and 18.3 million shares of its Class A common stock at a weighted average purchase price of $46.16 and $42.30 per share for a total expenditure of $357.0 million and $775.8 million during the three months and year ended August 31, 2011, respectively. As of August 31, 2011, approximately $0.7 million remained available under the Company’s current share repurchase authorization. Subsequent to quarter end, the Board of Directors increased authorization for management to repurchase Class A common shares to the current total amount of $500 million.

Business Outlook

The Company offers the following commentary regarding the outlook for fiscal 2012 based on the business trends observed during the fourth quarter of fiscal 2011, as well as management’s current expectations of future trends. The outlook reflects the acquisition of Carnegie Learning, Inc.

Conference Call Information

The Company will hold a conference call to discuss these earnings results at 8:00 a.m. Eastern, 5:00 a.m. Phoenix time, today, Wednesday, October 19, 2011. The call may be accessed by dialing (877) 292-6888 (domestic) or (973) 200-3381 (international) and entering the conference ID number 12862966. A live webcast of this event may be accessed by visiting the Company’s website at www.apollogrp.edu. A replay of the call will be available on the website or by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) and entering the conference ID number 12862966 until October 28, 2011.

About Apollo Group, Inc.

Apollo Group, Inc. is one of the world’s largest private education providers and has been in the education business for more than 35 years. The Company offers innovative and distinctive educational programs and services both online and on-campus at the undergraduate, master’s and doctoral levels through its subsidiaries: University of Phoenix, Apollo Global, Institute for Professional Development and College for Financial Planning. The Company’s programs and services are provided in 40 states and the District of Columbia; Puerto Rico; Latin America; and Europe, as well as online throughout the world.

For more information about Apollo Group, Inc. and its subsidiaries, call (800) 990-APOL or visit the Company’s website at www.apollogrp.edu.

6

Forward-Looking Statements Safe Harbor

Statements about Apollo Group and its business in this release which are not statements of historical fact, including statements regarding Apollo Group’s future strategy and plans and commentary regarding future results of operations and prospects, are forward-looking statements, and are subject to the Safe Harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations and involve a number of risks and uncertainties. Actual plans implemented and actual results achieved may differ materially from those set forth in or implied by such statements due to various factors, including without limitation (i) changes in the overall U.S. or global economy, (ii) changes in enrollment or student mix, including as a result of the roll-out of the Company’s University Orientation program to all eligible students in November 2010, (iii) the impact of changes in the manner in which the Company evaluates and compensates its counselors that advise and enroll students, (iv) changes in law or regulation affecting the Company’s eligibility to participate in or the manner in which it participates in U.S. federal student financial aid programs, (v) changes in the Company’s business necessary to remain in compliance with existing, new, or amended U.S. federal student financial aid program regulations, including the so-called 90/10 Rule and the limitations on cohort default rates, and to remain in compliance with the accrediting criteria of the relevant accrediting bodies, and (vi) other regulatory developments. For a discussion of the various factors that may cause actual plans implemented and actual results achieved to differ materially from those set forth in the forward-looking statements, please refer to the risk factors and other disclosures contained in Apollo Group’s Form 10-K for fiscal year 2010 and subsequent Forms 10-Q, and other filings with the Securities and Exchange Commission, all of which are available on the Company’s website at http://www.apollogrp.edu.

Use of Non-GAAP Financial Information

This press release and the related conference call contain non-GAAP financial measures, which are intended to supplement, but not substitute for, the most directly comparable GAAP measures. Management uses, and chooses to disclose to investors, these non-GAAP financial measures because (i) such measures provide an additional analytical tool to clarify the Company’s results from operations and help to identify underlying trends in its results of operations; (ii) as to the non-GAAP earnings measures, such measures help compare the Company’s performance on a consistent basis across time periods; and (iii) these non-GAAP measures are employed by the Company’s management in its own evaluation of performance and are utilized in financial and operational decision-making processes, such as budgeting and forecasting. Exclusion of items in the non-GAAP presentation should not be construed as an inference that these items are unusual, infrequent or non-recurring. Other companies, including other companies in the education industry, may calculate non-GAAP financial measures differently, limiting their usefulness as a comparative measure across companies.

7

Apollo Group, Inc. and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

8

Apollo Group, Inc. and Subsidiaries

Consolidated Statements of Income

(Unaudited)

9

Apollo Group, Inc. and Subsidiaries

Consolidated Statements of Income

(Unaudited)

10

Apollo Group, Inc. and Subsidiaries

Consolidated Statements of Cash Flows From Continuing and Discontinued Operations

(Unaudited)

11

Apollo Group, Inc. and Subsidiaries

Reconciliation of GAAP financial information to non-GAAP financial information

(Unaudited)

12

Investor Relations Contacts:

Beth Coronelli ~ (312) 660-2059 ~ beth.coronelli@apollogrp.edu

Jeremy Davis ~ (312) 660-2071 ~ jeremy.davis@apollogrp.edu

Media Contact:

Media Relations Hotline ~ (602) 254-0086 ~ media@apollogrp.edu

13