Statement Regarding Trading Activity in
Corinthian Colleges, Inc.

New York, NY—The Nasdaq Stock Market, Inc. (NASDAQ®; OTCBB: NDAQ), is providing clarification of the market circumstances surrounding the trading activity today of Corinthian Colleges, Inc. (NASDAQ: COCO). At approximately 10:46 a.m., Eastern Time (ET), Corinthian Colleges began trading from $57.45 to as low as $38.97 per share, all within a time frame of approximately 12 minutes. NASDAQ immediately contacted Corinthian Colleges to determine if there was any company-related explanation for the activity. The company indicated there was no corporate activity or news to explain the activity. Simultaneously, NASDAQ contacted the market participant responsible for the majority of the unusual trading activity.

NASDAQ subsequently determined that the extraordinary market activity resulted from multiple orders being routed to multiple market centers and electronic communications networks (ECNs) by a single customer.

NASDAQ halted trading in Corinthian Colleges from 10:58:08 a.m. Eastern Time to 11:55 a.m. due to extraordinary market activity. NASDAQ halts trading when extraordinary market activity in a security is occurring; NASDAQ determines that such extraordinary market activity is likely to have a material effect on the market for that security; and NASDAQ believes that such extraordinary market activity is caused by the misuse or malfunction of an electronic quotation, communication, reporting or execution system operated by or linked to NASDAQ.

Once NASDAQ determined that the system misuse or malfunction that caused the extraordinary market activity regarding Corinthian Colleges would no longer have a material effect on the market in Corinthian Colleges, NASDAQ resumed trading in the security.

NASDAQ, on its own motion, determined that all trades reported to NASDAQ in Corinthian Colleges that were executed today from 10:46:00 Eastern Time to 10:58:08 would be cancelled. NASDAQ determined that this action was necessary for the protection of investors and the public interest and for the maintenance of a fair and orderly market.

Corinthian Colleges was in no way responsible for the trading that took place subsequent to the development. Corinthian Colleges was fully cooperative with NASDAQ throughout the event, providing any necessary information and clarification with regards to the activity. NASDAQ is extremely appreciative of Corinthian Colleges' continued cooperation in this matter.

With nearly 3,400 companies, NASDAQ (OTCBB; NDAQ) lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ Newsroom^SM at www.nasdaq.com/newsroom.