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                                 EXHIBIT 99


                        DEVRY LOWERS EXPECTATIONS
                    FOR ITS FISCAL 2003 FIRST QUARTER

OAKBROOK TERRACE, IL, OCTOBER 3, 2002 - Following a special meeting of the
board of directors today during which anticipated results for the Company's
fiscal first quarter 2003 were evaluated, DeVry Inc. announced that it expects
earnings to be lower than current analyst consensus estimates, or between 13
cents and 16 cents per share.

The Company cited the ongoing effects of the technology recession which has
hindered new student enrollment in technology programs, as well as the costs
of operating two developing campuses in the Seattle and Washington, D.C. areas
and expenses related to opening the Philadelphia and South Florida area
campuses, as contributing to the lower earnings expectations for the quarter.

DeVry implemented expense management actions during the first quarter,
including staff and budget reductions to better match expenses to revenues.
The Company expects to see the benefits of these measures beginning in the
second fiscal quarter.

Dennis J. Keller, chairman and chief executive officer, said, "Clearly, we are
frustrated by the current technology recession and its effect on our
undergraduate enrollments. However, we are taking proactive measures to offset
lower revenue growth, including offering more of our undergraduate programs in
an online format as well as converting existing graduate centers into DeVry
University Centers to better serve the growing undergraduate adult learner
market. Our board of directors and everyone at DeVry are committed to providing
quality education to our students, long-term earnings growth and increasing
shareholder value."

"While currently DeVry is negatively affected by the technology downturn, the
fact remains that our graduate enrollments are up significantly, enrollments
at Becker Conviser Professional Review have increased and our DeVry University
centers and online degree programs are well-positioned to capture a growing
share of the adult learner market," said Ronald L. Taylor, president and chief
operating officer. "At the same time, we believe the long term value of a DeVry
education provides students with a solid basis for employment and career
growth."

DeVry will announce first quarter earnings results after-market on
October 17, 2002, followed by a conference call at 3:30 p.m. central time.

DeVry Inc. (NYSE:DV), is the holding company for DeVry University and Becker
Conviser Professional Review.  DeVry University offers associate, bachelor's
and master's degree programs in technology, business and management.  Becker
Conviser Professional Review is a leading provider of preparatory coursework
for the certified public accountant, certified management accountant and
chartered financial analyst exams.  DeVry Inc. and its divisions are based in
Oakbrook Terrace, Ill.  For more information about DeVry Inc., visit
http://www.devry.com.

Certain information contained in this release may constitute forward-looking
statements pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. Such statements may involve risks and
uncertainty that could cause actual results to differ materially from the
forward-looking statements. Potential risks and uncertainties include, but are
not limited to, dependence on student financial aid, state and provincial
approval and licensing requirements, and the other factors detailed in the
Company's Securities and Exchange Commission filings, including those discussed
under the heading "Risk Factors" in the Company's Registration Statement on
Form S-3 (No. 333-22457) filed with the SEC.