CAPE CORAL, FL--(BUSINESS WIRE)--May 8, 2003--Whitney Information Network, Inc.(TM) (OTCBB:RUSS) announced today that the company has added three new members to its board of directors, bringing its total to five.

"Adding to the Board has been our priority for several months, and I am very pleased with the caliber of members we were able to recruit," said Russ Whitney, Chairman and CEO of Whitney Information Network, Inc. "These top managers will help prepare our company for future growth in this multi-billion dollar industry."

Frederick A. Cardin, of Costa Mesa, CA has become a new member of the board. He is presently managing director of Harvard Growth Strategies, which advises clients on building their businesses through strategy, financing and marketing. Cardin brings expertise and experience in capital raising, strategic planning and investment analysis, high level business development leadership, marketing and franchising. He earned his MBA and his Doctorate in finance from the Harvard Graduate School of Business Administration. He earned his BA summa cum laude in economics from Tufts University.

Gonzalo De Ramon, of Miami, FL has also joined the Whitney board. He is a professional development manager with extensive experience in affordable housing developments involving low income housing tax credits, bond financing, and federal, state, county and city funding. He is presently vice president of development banking for the Bank of America, and has held senior positions in finance and asset management at several Miami and Dominican Republic investment and industrial companies. He is a magna cum laude graduate from the Santo Domingo Institute of Technology in industrial engineering, and holds an MBA in Investment and Corporate Finance from Florida International University.

John B. Gallagher is the third new board member. He is co-chairman, co-president and director of European Micro Holdings, Inc., a publicly traded NASDAQ company. He has held senior management positions with several US and international industrial and computer hardware companies. He is a licensed attorney with BA and Juris Doctorate degrees from the University of Florida.

These three new directors join Russ Whitney, CEO and Chairman of the Board and Ron Simon, Executive Vice President and CFO, in comprising the company's board.

Whitney Information Network, Inc. is a provider of post-secondary career training programs designed to educate students in the areas of real estate investing, business development, asset protection and financial management. Whitney is a fully integrated training and education company that creates, produces and markets a wide variety of training programs. It maintains its International Corporate Headquarters in Cape Coral, Florida with its consulting group based in Salt Lake City, Utah. Its Canadian subsidiary, Whitney Canada, Inc., conducts its operations from Mississauga, Ontario and its United Kingdom subsidiary, Whitney UK, Ltd. is located in Chiswick, England. The Company is listed on the Internet at http://www.russwhitney.com and its shares trade under the ticket symbol RUSS on the Electronic Bulletin Board.

    CONTACT: Whitney Information Network, Inc., Cape Coral
             Ron Simon, 239/542-3401

    SOURCE: Whitney Information Network, Inc.