Universal Technical Institute, Inc. Announces Filing of Registration Statement for IPO

PHOENIX, Oct. 6, 2003 -- Universal Technical Institute, Inc. (UTI) today announced that it has filed a Registration Statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The securities to be offered in the proposed IPO will include shares to be issued and sold by UTI as well as shares to be sold by certain UTI stockholders.

Credit Suisse First Boston will act as lead manager in the common stock offering, and the co-managers are Banc of America Securities LLC, Jefferies & Company, Inc., Thomas Weisel Partners LLC, and SunTrust Robinson Humphrey.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the preliminary prospectus, when available, may be obtained from Credit Suisse First Boston LLC, Prospectus Department, One Madison Avenue, New York, New York 10010 (Telephone No. 212-325-2000).

About UTI:

Universal Technical Institute, Inc. is a leading provider of post-secondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. We offer undergraduate degree, diploma and certificate programs at seven campuses across the United States, and manufacturer-sponsored advanced programs at 22 dedicated training centers. Through our campus-based school system, we offer specialized technical education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NTI). For more information, visit www.uticorp.com .