CARMEL, Ind., Jan. 22 /PRNewswire-FirstCall/ -- ITT Educational Services, Inc. (NYSE: ESI), a leading provider of technology-oriented postsecondary degree programs, announced today that it has arranged for Bank of America, Chase Education Finance and Citibank, The Student Loan Corporation to provide federal and private education loans to qualified ITT Technical Institute students and their parents for the remainder of the 2007/2008 academic year through the 2008/2009 academic year.

Kevin M. Modany, Chief Executive Officer and President of ITT/ESI, said, "We are very pleased to be able to provide qualified ITT Technical Institute students and their parents additional options for available funding to help pay the cost of their ITT Technical Institute education. We strongly believe that no qualified individual should ever be denied access to the education of his or her choice due to a lack of funds. The financing that Bank of America, Chase Education Finance and Citibank, The Student Loan Corporation are offering will assist our students in obtaining the education that they desire."

Modany concluded, "The education loan programs that these lenders are offering will provide us with the ability to continue executing on the mission of ITT Technical Institute to increase access to high-quality postsecondary education for all qualified Americans."

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements are made based upon the current expectations and beliefs of the company's management concerning future developments and their potential effect on the company. The company cannot assure you that future developments affecting the company will be those anticipated by its management. These forward-looking statements involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: business conditions and growth in the postsecondary education industry and in the general economy; changes in federal and state governmental regulations with respect to education and accreditation standards, or the interpretation or enforcement thereof, including, but not limited to, the level of government funding for, and the company's eligibility to participate in, student financial aid programs utilized by the company's students; the company's failure to comply with the extensive education laws and regulations and accreditation standards that it is subject to; effects of any change in ownership of the company resulting in a change in control of the company, including, but not limited to, the consequences of such changes on the accreditation and federal and state regulation of its institutes; the company's ability to implement its growth strategies; the company's failure to maintain or renew required regulatory authorizations or accreditation of its institutes; receptivity of students and employers to the company's existing program offerings and new curricula; loss of access by the company's students to lenders for student loans; the company's ability to successfully defend litigation and other claims brought against it; and other risks and uncertainties detailed from time to time in the company's filings with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future developments or otherwise.

WEB SITE:

www.ittesi.com

SOURCE ITT Educational Services, Inc.

CONTACT: David Landau, Director of Public Relations, 317-706-9274