WEST ORANGE, N.J., Dec. 1 /PRNewswire-FirstCall/ -- Lincoln Educational Services Corporation (NASDAQ: LINC; "Lincoln") announced today that it has completed the acquisition of Briarwood College for approximately $11.4 million in cash.

Briarwood is regionally accredited by the New England Association of Schools and Colleges (NEASC), and currently offers two Bachelor's degree programs and 31 Associate's degree programs to approximately 700 students from Connecticut and surrounding states. The college is located on a 33 acre campus in Southington, CT, a suburb of Hartford and offers on-campus housing for its students.

"We are very pleased to welcome Briarwood to the Lincoln family of schools," said Dave Carney, Chairman and CEO of Lincoln. "Briarwood supports our strategy by offering additional degree programs which will broaden our addressable market, expanding our offering of high-end healthcare programs such as dental hygiene and nuclear medicine and strengthening our online initiative with the addition of regionally accredited programs. Furthermore, with the addition of more bachelor's degree programs, Briarwood will support our "Education for Life" mission whereby students who have earned their diploma or associate's degree from Lincoln can return to further advance their career with a bachelor's degree."

Parchman, Vaughan and Company, L.L.C. served as financial advisor to Briarwood College with respect to the transaction.

About Lincoln Educational Services Corporation

Lincoln Educational Services Corporation is a leading and diversified for-profit provider of career-oriented post-secondary education. Lincoln offers recent high school graduates and working adults degree and diploma programs in five areas of study: automotive technology, health sciences, skilled trades, business and information technology and hospitality services. Lincoln has provided the workforce with skilled technicians since its inception in 1946. Lincoln currently operates 36 campuses in 17 states under six brands: Lincoln Technical Institute, Lincoln College of Technology, Nashville Auto-Diesel College, Southwestern College, Euphoria Institute of Beauty Arts and Sciences and Briarwood College. Lincoln had a combined average enrollment of approximately 20,665 students for the quarter ended September 30, 2008.

Statements in this press release regarding Lincoln's business which are not historical facts may be "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in Lincoln's Form 10-K for the year ended December 31, 2007. All forward-looking statements are qualified in their entirety by this cautionary statement, and Lincoln undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.

Source: Lincoln Educational Services Corporation