Summary of APOLLO GROUP INC

Item 2.02 Results of Operations and Financial Condition.

Segment Information

   Set forth below are quarterly net revenue and income (loss) from operations
data for each of our reportable segments for our fiscal year ended August 31,
2008 and for our fiscal quarter ended November 30, 2008.  This data should be
read in conjunction with the financial statements and notes thereto, our
Management's Discussion and Analysis of Financial Condition and Results of
Operations and the other financial information contained in our 2008 Annual
Report on Form 10-K filed October 28, 2008.

                                                                                                                               Fiscal Year
                                                                                                                                  ended
                                                         Fiscal Year ended August 31, 2008                                   August 31, 2009
                                    Q1                   Q2                Q3               Q4                                     Q1
($ in millions)                 November 30          February 29         May 31          August 31         Total(2)            November 30
                                                           (unaudited)                                                         (unaudited)
Net revenue:
University of Phoenix          $       743.4        $       658.0        $ 794.5        $     791.8        $ 2,987.7        $           913.2
Apollo Global                              -                    -            4.4                9.0             13.4                     17.0
Insight Schools                          2.1                  3.0            2.1                0.3              7.5                      7.7
Other Schools                           34.6                 28.4           30.9               28.6            122.5                     32.0
Corporate(1)                             0.6                  4.2            3.3                1.7              9.8                      1.1

Total net revenue              $       780.7        $       693.6        $ 835.2        $     831.4        $ 3,140.9        $           971.0


Income (loss) from
operations:
University of Phoenix          $       229.4        $       129.2        $ 245.7        $     213.3        $   817.6        $           310.2
Apollo Global                              -                    -            0.1               (2.0 )           (1.9 )                    0.7
Insight Schools                         (2.3 )               (2.7 )         (6.3 )             (7.6 )          (18.9 )                   (3.9 )
Other Schools                            7.7                  2.8            5.7                4.1             20.3                      4.5
Corporate(1)                           (15.6 )             (188.5 )        (23.7 )            160.2            (67.6 )                   (4.6 )

Total income (loss) from
operations                     $       219.2        $       (59.2 )      $ 221.5        $     368.0        $   749.5        $           306.9

(1) Corporate includes expense (benefit) during fiscal 2008 Q2, Q3, and Q4, respectively, of $168.4, $1.6, and $(170.0) million related to the securities litigation matter. Please refer to Note 17 of Notes to Consolidated Financial Statements in our 2008 Annual Report on Form 10-K for further discussion.

(2) Totals for Fiscal Year 2008 are derived from the audited financial statements included in our 2008 Annual Report on Form 10-K.

Item 8.01 Other Events.
Adjournment of Class B Shareholders Meeting The annual meeting of the holders of Apollo Group, Inc. Class B voting common stock, which was convened on January 21, 2009, was adjourned by unanimous vote of the shareholders to February 25, 2009. The adjournment was made in order to provide additional time to complete the business of the meeting. No action was taken at the meeting prior to adjournment.
The annual meeting of the holders of Apollo Group's Class A nonvoting common stock will proceed as scheduled on Tuesday, February 10, 2009.
* * * The information in Items 2.02 and 8.01 of this Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.