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Stock Trading History of Teroesde Friedrich

The following table details the trading activities (stock purchases, stock sales, and stock option exercises) reported to the Securities and Exchange Commission (SEC) by insider Teroesde Friedrich since year 2005. The trader's CIK number is 1267417. At the time of this reporting, Teroesde Friedrich is the Director of Education Management Corporation (stock ticker symbol EDMC).

Stock purchases, sales, and option exercises reported by *Teroesde Friedrich* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2006-06-01	EDMC	Education Management Corporation	Sale	43,125	43.00	1,854,375
2006-06-01	EDMC	Education Management Corporation	Option Exercise	40,000	31.72	1,268,933

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Teroesde Friedrich (Director of Education Management Corporation at the time of this reporting) see the Securities and Exchange Commission (SEC) website.