Concorde Career Colleges, Inc. Announces Acquisition by Liberty Partners

Concorde Career Colleges, Inc. ("Concorde")(NASDAQ:CCDC)announced today it has entered into a definitive Agreement and Plan ofMerger (the "Merger Agreement") with an affiliate of Liberty Partners,a private equity firm based in New York City. Under the MergerAgreement, Concorde will become a wholly owned subsidiary of theLiberty affiliate, and each share of issued and outstanding commonstock of Concorde will be converted into the right to receive $19.80in cash. This represents an approximate thirty-four percent (34%)premium over Concorde's closing stock price on June 21, 2006, andtotal merger consideration of approximately $114.5 million.

Concorde's board of directors has unanimously approved the MergerAgreement. The merger is expected to be consummated during the thirdquarter of 2006, subject to the satisfaction of certain conditions toclosing, including, but not limited to, the requisite approval of thestockholders of Concorde and receipt of applicable regulatoryapprovals. A special meeting of Concorde's stockholders to considerthe transaction will be scheduled as soon as practicable followingreview of Concorde's proxy materials by the Securities and ExchangeCommission. Concorde's board of directors has recommended thatstockholders approve and adopt the Merger Agreement.

In connection with the execution of the Merger Agreement, certainstockholders of Concorde who collectively hold approximately 35% ofits outstanding shares, including Chief Executive Officer Jack L.Brozman and entities affiliated with Camden Partners, entered intoStock Voting Agreements, pursuant to which each agreed, among otherthings, to vote in favor of the transactions contemplated by theMerger Agreement. In addition, Mr. Brozman has agreed to remain asPresident of Concorde after the merger.

In the transaction, BMO Capital Markets (formerly Harris Nesbitt)acted as Concorde's financial advisor and Stifel, Nicolaus & Companyprovided a fairness opinion to Concorde's board of directors.

The law firm of Bryan Cave LLP is representing Concorde and thelaw firm of Blank Rome LLP is representing Liberty Partners in thetransactions.

Concorde, headquartered in Mission, Kansas, owns and operatesproprietary, post-secondary institutions at 12 locations in sevenstates. Its vocational training programs are primarily in the alliedhealth field.

According to Jack L. Brozman, CEO of Concorde, "This transactionwill provide continuity for our students and employees, create moreopportunities for Concorde to provide the highest level of service andallow our outstanding schools to become even better."

Yvonne Marsh, a Managing Director at Liberty Partners, stated, "Weare very excited at the prospect of adding Concorde to our existingportfolio of high-quality education-oriented companies. ThroughLiberty Higher Education LLC, our post-secondary education holdingcompany, we can provide Concorde's strong management team withadditional operational and regulatory expertise." Timothy Foster, theCEO of Liberty Higher Education, added, "I look forward to beingassociated with these schools as they provide students with a valuableeducational experience that prepares them for rewarding lifelongcareers in healthcare."

Liberty Partners is a New York-based private equity firm thatspecializes in investments in manufacturing, business services, andeducation-related companies. Since its founding in 1992, the firm hascommitted over $1 billion to more than 45 transactions, includingcommitments of over $250 million to investments in elementary andpost-secondary education.

Camden Partners is a Baltimore-based private equity firm focusedon business service, healthcare and education investments. The firmhas significant investments in K-12 schools, post-secondary colleges,testing and assessment and IT training segments of education.

Concorde stockholders are urged to read the proxy statementregarding the proposed transaction when it becomes available, becauseit will contain important information. Stockholders will be able toobtain a free copy of the proxy statement, as well as other filingscontaining information about Concorde, without charge, at the SEC'sInternet site (http://www.sec.gov). Copies of the proxy statement andthe filings with the SEC that will be incorporated by reference in theproxy statement can also be obtained, without charge, by directing arequest to Concorde Career Colleges, Inc., 5800 Foxridge Drive, Suite500, Mission, KS 66212, Attention: Investor Relations.

The directors and executive officers of Concorde and other personsmay be deemed to be participants in the solicitation of proxies inrespect of the proposed transaction. Information regarding Concorde'sdirectors and executive officers is available in Concorde's mostrecent proxy statement and annual report filed with the SEC byConcorde on April 12, 2006, and March 13, 2006, respectively. Otherinformation regarding the participants in the proxy solicitation and adescription of their direct and indirect interests, by securityholdings or otherwise, will be contained in the proxy statement andother relevant materials to be filed with the SEC when they becomeavailable.

Certain statements in this press release may be deemed to beforward-looking statements under the Private Securities LitigationReform Act of 1995. Concorde intends that all such statements besubject to the "safe-harbor" provisions of that Act. Such statementsinclude, but are not limited to, possible difficulties in obtainingregulatory approvals and the possible failure to occur of otherconditions to closing the transactions contemplated in the MergerAgreement. Concorde undertakes no obligation to publicly update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise.

To find out more about Concorde Career Colleges, Inc.(NASDAQ:CCDC), visit our website at www.concordecareercolleges.com.