Exhibit 99.1

DeVry Inc. Provides Update on Financial Impact of Workforce Reduction
                                Program

    OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--June 23, 2005--At the
William Blair & Company 25th Annual Growth Stock Conference in
Chicago, DeVry Inc. (NYSE:DV), an international higher education
company, provided an update on the financial impact of the company's
workforce reduction programs.
    As previously announced, estimated annual savings from the second
and third quarter workforce reductions are expected to be
approximately $10.5 million, beginning in fiscal 2006. These workforce
reductions included faculty and staff within DeVry University, Becker
Professional Review and at the corporate office.
    Staff reductions implemented during the fourth quarter are
expected to produce additional annual savings of approximately $6
million. The company expects to take a pre-tax charge of approximately
$2.5 million in the fourth quarter related to this workforce
reduction, which is in addition to the $5.2 million in charges taken
in the second and third quarters of fiscal 2005.
    "We have continued to make some tough expense-related decisions,
including reducing staff, which allows us to more closely align
staffing levels with today's current business requirements," said
Ronald L. Taylor, DeVry's chief executive officer. "While we are
cutting some costs, we are also investing in our high growth areas and
improving upon our student service functions, all of which is
consistent with our comprehensive growth plan."

    DeVry Inc. (NYSE:DV) is the holding company for DeVry University,
Ross University, Deaconess College of Nursing and Becker Professional
Review. DeVry University, which includes Keller Graduate School of
Management, offers associate, bachelor's and master's degree programs
in technology, business and management. Ross University, through its
schools of Medicine and Veterinary Medicine, offers both doctor of
medicine and doctor of veterinary medicine degrees. Deaconess College
of Nursing offers associate and bachelor's degree programs in nursing.
Becker Professional Review, which includes Stalla CFA Review, provides
preparatory coursework for the certified public accountant, certified
management accountant and chartered financial analyst exams. DeVry
Inc. is based in Oakbrook Terrace, Ill. For more information about the
company, 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 uncertainties that could cause actual results to
differ materially from the forward-looking statements. Potential risks
and uncertainties include, but are not limited to, market conditions,
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.

    CONTACT: DeVry Inc.
             Joan Bates (Investor), 630-574-1949
             or
             Dresner Corporate Services
             John Kroen (Media), 312-780-7204