Universal Technical Institute Signs Lease for New Campus in Pennsylvania

PHOENIX, Jan. 26, 2004 -- Universal Technical Institute, Inc. today announced that it has entered into a long-term lease agreement for a new Universal Technical Institute campus near Exton in southeastern Pennsylvania. Encompassing approximately 160,000 square feet, the new facility is expected to open in mid to late summer 2004.

The new UTI-Exton campus will initially offer programs in automotive technology designed to teach students how to diagnose, service and repair automobiles.

"Our industry customers in the northeast region have called upon us to build a campus to meet their technician recruitment needs," said Kimberly McWaters, president and chief executive officer of Universal Technical Institute, Inc. "Students from this area will have more opportunities to pursue careers with these manufacturers and others in the automotive industry. Expanding our national presence and opening new campuses are key components of our long-term growth strategy."

About Universal Technical Institute

Universal Technical Institute, Inc. is one of the nation's leading providers of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. The company offers undergraduate degree, diploma and certificate programs at seven campuses across the United States, and manufacturer-sponsored advanced programs at 22 dedicated training centers. Through its campus-based school system, Universal Technical Institute, Inc. offers 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.

Statements in this press release concerning the future business, operating results and financial condition of the company are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations and are subject to a number of uncertainties that could cause actual performance and results to differ materially from the results discussed in the forward-looking statements. Factors that could affect the company's actual results include construction delays for the new campus, possible failure or inability to obtain regulatory consents and certifications for the new campus, potential increased competition, changes in demand for the programs offered by the company, increased investment in management and capital resources, changes to federal and state educational funding and the effectiveness of the company's advertising and promotional efforts. Further information on these and other potential factors that could affect the company's financial results or condition may be found in the company's filings with the Securities and Exchange Commission, all of which are incorporated herein by reference. The company undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.