Universal Technical Institute, Inc. Added to Russell 3000(R) Index

PHOENIX, June 28 -- Universal Technical Institute, Inc. , a provider of technical education training, today announced that its common stock was added to the Russell 3000(R) Index after market close on June 25, 2004.

Universal Technical Institute's inclusion in the Russell 3000(R) Index makes it possible for the company to be included in those portfolios that use the Index as a benchmark for their investments. Russell, the publishers of the Index, estimates that more than $360 billion is invested in funds based on its indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of index member stocks according to that company's weighting in the particular index.

Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000(R). The largest 1,000 companies in the ranking comprise the Russell 1000(R) Index while the remaining 2,000 companies become the widely used Russell 2000(R) Index.

"We are pleased to become part of this prestigious Index," said Kimberly McWaters, president and chief executive officer of Universal Technical Institute, Inc. "We believe UTI's inclusion will give our company increased visibility within the investment community."

About Universal Technical Institute

Universal Technical Institute, Inc. is a provider 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 eight 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 increased visibility of Universal Technical Institute, Inc. within the investment community 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 to differ materially from the performance discussed in the forward-looking statements. Factors that could affect the company's actual performance include construction delays for the new campuses, possible failure or inability to obtain regulatory consents and certifications for the new campuses, 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.