May 23, 2006

Nelnet to Hold Annual Meeting of Shareholders on May 25

LINCOLN, Neb., May 23, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Nelnet, Inc. (NYSE: NNI) will hold its annual meeting of shareholders at 9:30 a.m. (Eastern) on Thursday, May 25, 2006, at the Embassy Suites Hotel in Lincoln, Neb. The meeting will be available live via Web cast and conference call.

The Web cast can be accessed at under the conference calls and Web casts menu. To access the audio portion of the meeting in listen-only mode, participants in the United States and Canada should dial 800.819.9193 at least 15 minutes prior to the call.

A replay of the meeting will be available between 12:30 p.m. (Eastern) May 25, 2006, and 12:00 a.m. (Eastern) June 2, 2006. To access the replay via telephone within the United States and Canada, callers should dial 888.203.1112. All callers accessing the replay will need to use the confirmation code of 9949274. A replay of the Web cast will also be available at

Nelnet is one of the leading education finance companies in the United States and is focused on providing quality products and services to students and schools nationwide. Nelnet ranks among the nation's leaders in terms of total net student loan assets with $21.3 billion as of March 31, 2006. Headquartered in Lincoln, Nebraska, it originates, consolidates, securitizes, holds, and services student loans, principally loans originated under the Federal Family Education Loan Program of the U.S. Department of Education, which we refer to as the FFEL Program or the FFELP.

Additional information is available at

(code #: nnig)

SOURCE Nelnet, Inc.

Sheila Odom, +1-402-458-2329, or Investors, Cheryl Watson, +1-317-469-2064, both of
Nelnet, Inc.

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