CAPE CORAL, Fla., Apr 15, 2003 (BUSINESS WIRE) -- Whitney Information Network, Inc.(TM) (OTCBB:RUSS), 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, today announced its revenue and earnings for the year ended December 31, 2002.

Total revenue for the year ended December 31, 2002, was $62.1 million, an increase of approximately 47 percent or $20 million over the previous year's revenue of $42.1 million. A combination of the increase in advanced training courses held, higher registrations, and co-marketing efforts via strategic alliances with other educational training companies contributed to the increase. Other contributing factors were UK and Canadian based sales for 2002, which accounted for approximately 8 percent of gross revenue. Foreign sales were not significant in prior periods.

Net income for the year ended December 31, 2002, was $6.2 million as compared with net income of $2.5 million for the year ended December 31, 2001, an increase of 148% or $.78 per share as compared to $.33 per share for the prior period. The increase is directly attributable to increased sales in 2002 over the prior period, increased recognition of deferred revenue, and increased production from marketing programs resulting in larger gross profit.

Russ Whitney, Chairman, CEO and President of Whitney Information Network, Inc., stated, "Repeat customer sales are the backbone of our business. That is evident in the fact that 60 percent of our revenue in 2002 was generated from repeat customer business, showing that students find our trainings to be effective. Over 12,000 new students attend one or more of our programs each month."

Whitney also commented, "We will continue to expand our business outside of North America and increase our course offerings, thus increasing student enrollment and revenue. We will also diversify our advertising methods by increasing our use of print and broadcast media."

Information included in this news release contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 ("Reform Act"). Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results and performance of the Company to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statements. In connection with the safe harbor provisions of the reform act, the Company has identified important factors that could cause actual results to differ materially from such expectations, including operating uncertainty, uncertainties relating to economic issues and competition. Reference is made to all of the Company's SEC filings, including the Company's Reports on Forms 10K, 10Q and other periodic reports.

                 Consolidated Statements of Income

                                           For the
                                         Years Ended
                                         December 31,
                        ---------------------------------------------
                            2002            2001            2000
                        -------------    ------------    ------------
Sales                    $62,145,237     $42,157,740     $32,859,857
                        -------------    ------------    ------------

Expenses
    Seminar
     Expenses             28,384,333      19,741,418      22,337,708
    Advertising and
     sales expense        13,936,860      11,563,640      12,198,784
    General and
     administrative
     expense              13,863,598       8,571,319       7,283,828
                        -------------    ------------    ------------
       Total expenses     56,184,791      39,876,377      41,820,320
                        -------------    ------------    ------------

Income (loss) from
 operations                5,960,446       2,281,363      (8,960,463)
                        -------------    ------------    ------------

Other income
 (expense)
    Interest and
     other income            339,842         356,989         267,344
    Interest
     expense                 (70,548)       (104,105)        (10,008)
                        -------------    ------------    ------------

                             269,294         252,884         257,336
                        -------------    ------------    ------------

Net income (loss)         $6,229,740      $2,534,247     ($8,703,127)
                        -------------    ------------    ------------

Basic weighted average
 common shares
 outstanding               7,952,180       7,587,474       7,528,022
                        -------------    ------------    ------------

Basic income (loss) per
 common share                  $0.78           $0.33          ($1.16)
                        -------------    ------------    ------------

Diluted weighted average
 common shares
 outstanding               9,358,355       7,587,474       7,528,022
                        -------------    ------------    ------------

Diluted income (loss)
 per common share              $0.67           $0.33          ($1.16)
                        -------------    ------------    ------------

Whitney Information Network, Inc., Cape Coral
Ron Simon, 239/542-8999
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