Wolf Popper LLP has filed a securities fraud lawsuit against EVCI Career Colleges Holding Corp. ("EVCI") (NasdaqSC:EVCI) and certain of its officers and directors, on behalf of all persons who purchased EVCI securities on the open market during the period November 14, 2003 through October 19, 2005. The action was filed in the United States District Court, Southern District of New York.

The complaint alleges that during the Class Period, EVCI, through its wholly-owned subsidiary, Interboro Institute, Inc. ("Interboro"), entered into an aggressive campaign to increase student enrollment. Undisclosed to investors however, was the fact that Interboro did not maintain adequate libraries, equipment and teaching staff to support these additional students, in violation of the New York State Education Department’s ("NYSED") educational minimum standard requirements. As a result, defendants misled investors concerning EVCI’s earning and enrollment growth and obtained millions of dollars in proceeds from the sales of EVCI’s inflated stock price, when they knew or recklessly disregarded that the Company would have to curtail its growth and spend millions of dollars to increase its resources and teaching staff in order to meet the minimum standard requirements.

On October 19, 2005, EVCI stunned the market when it revealed its true financial condition and prospects, informing investors that the Company received a draft report of a compliance review undertaken by the NYSED which included assertions of irregularities in its admissions practices and a proposed determination to deny extension center status for Interboro’s college site, located in Yonkers, New York. The press release also revealed that the NYSED recommended that EVCI increase the number and percent of full-time faculty, improve its libraries, facilities and equipment resources, and improve the quality of student learning. On December 6, 2005, the Company further disclosed that the NYSED’s final determination was to deny extension center status for its’s Yonkers location. In addition, the Company announced that the NYSED required EVCI to downsize its student enrollment at all of its college site locations in New York City. In immediate response to this news, EVCI’s share price continued to downward spiral, falling to a low of $1.81 on December 6, 2005.

Wolf Popper LLP has extensive experience representing shareholders in class actions and has successfully recovered billions of dollars for defrauded shareholders.

Class members who desire to be appointed a lead plaintiff in this action must file a motion with the Court no later than February 6, 2006. Class members who are interested in serving as a lead plaintiff in this action, or other persons who have questions or information regarding the prosecution of this action, are urged to call or write: