Universal Technical Institute, Inc. Prices Secondary Offering of Common Stock

5,500,000 Shares Priced at $40.00 Per Share

PHOENIX, April 27 -- Universal Technical Institute, Inc. today announced the pricing of the public offering of 5,500,000 shares of its common stock at a price to the public of $40.00 per share. As previously reported, certain existing stockholders of UTI, other than senior management, are selling their shares of UTI's common stock. UTI will not receive any proceeds from the offering. The offering is expected to close on April 30, 2004. The selling stockholders have granted the underwriters a 30-day option to purchase up to 825,000 additional shares of common stock to cover over-allotments, if any.

Credit Suisse First Boston is acting 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 and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described above; nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the final prospectus for the offering, when available, may be obtained from Credit Suisse First Boston LLC, Prospectus Department, One Madison Avenue, New York, New York 10010 (Telephone No. 212-325-2580).

About Universal Technical Institute

Universal Technical Institute, Inc. is one of the nation's leading providers of post-secondary 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 or campus expansions, possible failure or inability to obtain regulatory consents and certifications for the new campus or campus expansions, 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.