Feb 09, 2005

Nelnet Hires Pierre L. Alric in New York

LINCOLN, Neb., Feb 09, 2005 /PRNewswire-FirstCall via COMTEX/ -- Nelnet (NYSE: NNI), a leading education finance company, announced today the addition of Pierre L. Alric as a Director in the Office of Chairman. In this capacity, Alric will be responsible for expanding Nelnet's professional relationships with college and university leaders in New York, Connecticut, and New Jersey.

"Pierre brings tremendous credentials to Nelnet," said Mike Dunlap, Chairman and Co-CEO of Nelnet. "We are pleased to have him on-board and look forward to leveraging his experience in higher education management and public policy to work with campus executives in developing and customizing enrollment management and student financial service products that address the specific needs of their school.

"Nelnet has made significant investments in state-of-the-art technologies and services that allow us to enhance customer service while reducing administrative costs to our partner institutions," added Dunlap. "As my envoy to college executives, Pierre will serve as the communication link between leadership at Nelnet and campuses, which enhances our ability to provide a comprehensive solution for an institution."

Most recently, Alric served as Executive Vice President and Chief Operating Officer of the New York State Higher Education Services Corporation (HESC), where he managed the day-to-day operations of the agency. HESC provides more than $800 million in tuition assistance and scholarships, and nearly $4 billion in guaranteed student loans annually. While in this position, Alric received the New York State Financial Aid Administrators Association Citation of Appreciation for his contributions to the financial aid community in New York.

Before joining HESC as Vice President of Policy Analysis and Information Services, Alric held staff positions with members of the New York State Assembly and Senate. In addition, Alric was a childcare worker and Supervisor at the LaSalle School for Boys in Albany for 18 years.

Alric is a graduate of the State University of New York at Albany with a B.A. in political science.

Nelnet is one of the leading education finance companies in the United States and is focused on providing quality student loan products and services to students and schools nationwide. With over $15 billion in total assets, Nelnet originates in excess of $3 billion for itself and its service partners annually, and its servicing software is used by approximately 35 clients, including Nelnet, to service nearly $50 billion in student loans. Nelnet ranks among the nation's leaders in terms of total student loan assets.

Nelnet offers a broad range of student loan and financial services and technology-based products, including student loan origination and lending, guarantee servicing, and a suite of software solutions. Our products are designed to simplify the student loan process by automating financial aid delivery, loan processing, and funds disbursement. Our services help to facilitate and streamline education finance for all involved in the industry, including student and parent borrowers, lenders, financial aid officers, guaranty agencies, governmental agencies, servicers, and the capital markets.

Additional information is available at www.nelnet.net.

(code #: nnig)

SOURCE Nelnet

media, Sheila Odom, +1-402-458-2329, or investors, Cheryl Watson, +1-317-469-2064,
both of Nelnet
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