Exhibit 99.1

		Apollo Group, Inc.
		News Release

APOLLO GROUP, INC. REPORTS FISCAL YEAR 2012 SECOND QUARTER RESULTS

Phoenix, March 26, 2012 — Apollo Group, Inc. (NASDAQ: APOL) (“Apollo Group,” “Apollo” or the “Company”) today reported financial results for the three and six months ended February 29, 2012.

Second Quarter 2012 Highlights

“Empowering our students to achieve their desired academic and life outcomes is our highest priority,” said Apollo Group Co-Chief Executive Officer and Apollo Global Chairman Greg Cappelli. “We are building on our mission to provide world class education, as well as connecting education to careers, in order to further differentiate University of Phoenix. We are committed to leading education into the future.”

Apollo Group Co-Chief Executive Officer Chas Edelstein added, “We are working to continually improve our services to students to enhance their educational experience and outcomes. As we pursue opportunities for increased operating efficiency, our efforts to optimize allow us to invest in innovation and create new and better ways to reach adult learners, while keeping education affordable and accessible and delivering the best possible experience to our students.”

Unaudited Second Quarter of Fiscal Year 2012 Results of Operations

Consolidated net revenue for the second quarter of fiscal year 2012 totaled $969.6 million, which represents a 7.5% decrease compared to the second quarter of fiscal year 2011. The decrease is the result of an 8.0% decrease in University of Phoenix net revenue, due principally to lower University of Phoenix enrollment, partially offset by selective tuition price and other fee changes. For the quarter, University of Phoenix Degreed Enrollment decreased 12.2% to 355,800, largely due to the decrease in New Degreed Enrollment during fiscal year 2011. The Company believes the decrease in 2011 New Degreed Enrollment was primarily the result of a number of important changes and initiatives implemented in recent years to more effectively support students and enhance their educational outcomes. Although University of Phoenix New Degreed Enrollment increased 1.0% in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, we believe it has been impacted by changes in marketing content and channels to better identify potential students more likely to succeed at University of Phoenix, by changes in economic conditions and, in particular, an improving U.S. labor market, as well as by a continuing robust competitive environment.

The Company reported income from continuing operations attributable to Apollo Group for the three months ended February 29, 2012, of $63.9 million, or $0.51 per share (126.5 million weighted average diluted shares outstanding), compared to a loss from continuing operations attributable to Apollo Group of $66.6 million, or $0.47 per share (142.4 million weighted average diluted shares outstanding) for the three months ended February 28, 2011.

Results for the second quarter of fiscal year 2012 included restructuring and other charges of $16.1 million associated with the Company’s real estate rationalization plan.

Results for the second quarter of fiscal year 2011 included the following:

Excluding the special items noted above, income from continuing operations attributable to Apollo Group for the three months ended February 29, 2012, was $73.8 million, or $0.58 per share (126.5 million weighted average diluted shares outstanding), compared to income from continuing operations attributable to Apollo Group of $118.2 million, or $0.83 per share (142.7 million weighted average diluted shares outstanding) for the three months ended February 28, 2011. (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 increased $7.9 million, or 1.9%, to $429.5 million in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, which represents a 410 basis point increase as a percentage of net revenue. The expense increase was primarily related to the Company’s initiatives, including technology, to more effectively support students and improve their educational outcomes.

Marketing increased $2.0 million, or 1.3%, to $159.3 million in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, which represents a 140 basis point increase as a percentage of net revenue. Marketing expense included costs attributable to establishing relationships with employers and community colleges.

Admissions advisory decreased $0.9 million, or 0.9%, to $101.4 million in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, which represents a 60 basis point increase as a percentage of net revenue. While admissions advisory headcount decreased, the cost savings was offset by higher average employee compensation costs.

General and administrative decreased $0.3 million, or 0.4%, to $84.0 million in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, which represents a 70 basis point increase as a percentage of net revenue.

Depreciation and amortization increased $2.8 million, or 7.3%, to $42.0 million in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, which represents a 60 basis point increase as a percentage of net revenue. The increase is principally attributable to $3.1 million of intangible asset amortization in the second quarter of fiscal year 2012 as a result of the Carnegie Learning acquisition.

The provision for uncollectible accounts receivable (“bad debt expense”) decreased $14.5 million, or 31.9%, to $31.0 million in the second quarter of fiscal year 2012 compared to the second quarter of fiscal year 2011, which represents a 110 basis point decrease as a percentage of net revenue. The decrease was primarily attributable to reductions in gross accounts receivable associated with decreased University of Phoenix Degreed Enrollment; a decrease in the proportion of receivables that are attributable to students enrolled in associate’s degree programs, as collection rates for these students are generally lower compared to students in more advanced level programs; and improved collection rates due, in part, to process initiatives implemented in fiscal year 2011.

Financial and Operating Metrics

Below are Apollo Group’s unaudited financial data and operating metrics for the second quarter of fiscal year 2012 versus the prior-year period.

Unaudited First Six Months of Fiscal Year 2012 Results of Operations

Consolidated net revenue for the first six months of fiscal year 2012 totaled $2.1 billion, which represents a 9.6% decrease compared to the first six months of fiscal year 2011. The decrease in consolidated net revenue was primarily attributable to University of Phoenix’s 10.1% decrease in net revenue principally due to lower University of Phoenix enrollment, partially offset by selective tuition price and other fee changes. In the first six months of fiscal year 2012, University of Phoenix’s Average Degreed Enrollment decreased 15.6% as compared to the first six months of fiscal year 2011. The Company reported income from continuing operations attributable to Apollo Group for the six months ended February 29, 2012, of $213.2 million, or $1.66 per share, (128.7 million weighted average diluted shares outstanding), and $169.4 million, or $1.17 per share, (144.7 million weighted average diluted shares outstanding) for the six months ended February 28, 2011.

Results for the first six months of fiscal year 2012 contained special items that include $21.7 million of restructuring and other charges associated with the Company’s real estate rationalization plan and $16.8 million of goodwill and other intangible asset impairment charges for the UNIACC subsidiary of Apollo Global ($14.4 million net of the portion attributable to noncontrolling interests). The Company did not record a net tax benefit associated with the goodwill and other intangible asset impairment, as they are not deductible for tax purposes. Results for the first six months of fiscal year 2011 include goodwill and other intangible asset impairment charges of $219.9 million for the BPP subsidiary of Apollo Global ($188.3 million net of the portion attributable to noncontrolling interests); a $3.8 million restructuring charge associated with a strategic reduction in force; and $2.5 million of charges for accrued incremental post-judgment interest and other estimated costs related to the Policeman’s Annuity and Benefit Fund of Chicago securities class action lawsuit. The Company recorded a tax benefit of $5.0 million, net of noncontrolling interests, associated with these charges. The Company did not record a net tax benefit associated with the goodwill impairment, as it is not deductible for tax purposes.

Excluding these special items, income from continuing operations attributable to Apollo Group for the six months ended February 29, 2012, was $241.0 million, or $1.87 per share, compared to income from continuing operations attributable to Apollo Group of $357.1 million, or $2.47 per share, for the six months ended February 28, 2011. (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 February 29, 2012, the Company’s cash and cash equivalents, excluding restricted cash, totaled $800.7 million, compared to $1,571.7 million as of August 31, 2011. The decrease was primarily attributable to payments on borrowings, share repurchases, funding a common fund account associated with our preliminary settlement in a legal matter, the purchase of Carnegie Learning and capital expenditures, partially offset by cash generated from operations.

As of February 29, 2012, accounts receivable decreased to $207.1 million from $215.6 million at August 31, 2011. Excluding accounts receivable and the related net revenue for Apollo Global, the Company’s days sales outstanding was 22 days as of February 29, 2012, which remained consistent compared to 23 days as of August 31, 2011, and 22 days as of February 28, 2011.

Total debt outstanding (including short-term borrowings and the current portion of long-term debt) decreased by $471.5 million to $127.5 million as of February 29, 2012, from $599.0 million as of August 31, 2011. The decrease is due to the repayment of the borrowings on the Company’s $500 million credit facility.

Share Repurchases

The Company repurchased approximately 6.4 million and 8.1 million shares of its common stock at a weighted average purchase price of $51.65 and $50.42 per share for a total cost of $328.8 million and $407.0 million during the three and six months ended February 29, 2012, respectively. Additionally, subsequent to February 29, 2012, the Company repurchased approximately 2.2 million shares at a total cost of $92.5 million, resulting in $0.5 million remaining of the current share repurchase authorization.

SEC Update

On March 21, 2012, the Company was notified by the staff of the Securities and Exchange Commission that the informal inquiry initiated in October 2009 was completed and that the staff does not intend to recommend any enforcement action by the Commission.

Business Outlook

The Company offers the following commentary regarding the outlook for fiscal year 2012 based on the business trends observed during the second quarter of fiscal year 2012, as well as management’s current expectations of future trends.

Conference Call Information

The Company will hold a conference call to discuss these earnings results at 5:00 p.m. Eastern, 2:00 p.m. Phoenix time, today, Monday, March 26, 2012.

Dial-In Numbers:

877-292-6888 (Domestic)

973-200-3381 (International)

Conference ID: 56164637

A live webcast of this event may be accessed by visiting the Company’s website at www.apollogrp.edu. A webcast replay will be available approximately one hour following the conclusion of the call at the same link.

A telephone replay will be available approximately two hours following the conclusion of the call until April 10, 2012.

Dial-In Numbers:

855-859-2056 (Domestic)

404-537-3406 (International)

Conference ID: 56164637

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 is authorized to offer programs and services in 41 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.

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 and, in particular, improvements in employment levels in the U.S., (ii) the impact of increased competition from traditional public universities and proprietary educational institutions, (iii) the impact of changes in marketing channels and other recruiting practices to better identify students who are more likely to succeed at University of Phoenix, (iv) changes in enrollment or student mix, (v) the impact of the Company’s initiatives to improve the student experience, (vi) changes in law or regulation affecting the Company’s eligibility to participate in or the manner in which it participates in U.S. federal and state student financial aid programs, and (vii) 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. 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 2011 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 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.

Apollo Group, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Unaudited)

Apollo Group, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

Apollo Group, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Unaudited)

Apollo Group, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows From Continuing and Discontinued Operations

(Unaudited)

Apollo Group, Inc. and Subsidiaries

Reconciliation of GAAP financial information to non-GAAP financial information

(Unaudited)

Investor Relations Contacts:

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

Media Contact:

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