June 23, 2000

Ailing Parent of For-Profit University to Sell International Assets

A cryptic disclosure this month from the financially ailing company that owns American International University is prompting speculation about new international ventures in higher education's commercial sector.

EduTrek International announced that it has signed a letter of intent to sell assets of its Global Studies business to an undisclosed company for $27-million. The undisclosed potential buyer has also lent EduTrek $5-million to ease its immediate need