CAPE CORAL, Fla., May 2, 2003 (BUSINESS WIRE) -- Whitney Information Network, Inc.(TM) (OTCBB:RUSS) announced today that it anticipates a first quarter loss of approximately $1.5 million and expects losses to continue through the 2nd quarter of the year. Cash balances have increased by $3.8 million in the same period to $15.8 million at March 31, 2003. The Company indicated that it, nevertheless, expects its full year's revenue and earnings to equal or exceed those of the prior year.

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.

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.

SOURCE: Whitney Information Network, Inc.

Whitney Information Network, Inc., Cape Coral
Ron Simon, 239/542-8999
or
David Whitaker, 239/542-0643, ext. 6268
davidwhitaker@russwhitney.com

http://www.businesswire.com

Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.