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FOR IMMEDIATE RELEASE

Company Contact: Investor Relations Contact: Robert S. McMillan David K.
Waldman/John W. Heilshorn Chief Financial Officer Lippert Heilshorn & Associates
New Horizons Worldwide, Inc. (212) 838-3777 (714) 940-8001 dwaldman@lhai.com

NEW HORIZONS ANNOUNCES THIRD QUARTER EPS OF $0.07

ANAHEIM, Calif. - October 22, 2003 - New Horizons Worldwide, Inc. (Nasdaq:
NEWH), today announced financial results for the third quarter ended September
30, 2003.

Revenue for the third quarter was $35.0 million, compared to $35.2 million in
the third quarter of 2002. Revenue from the company-owned training centers was
$25.2 million, up from $24.8 million in the third quarter of 2002. Franchising
revenues were $9.8 million, compared to $10.4 million last year. Net income for
the third quarter was $682,000, or $0.07 per diluted share, compared to a loss
of $564,000 or $0.05 per diluted share in the third quarter of 2002.

Revenue for the nine months ended September 30, 2003 was $106.8 million, up from
$105.9 million in the same period last year. Revenue from the company-owned
training centers was $77.5 million, up from $75.2 million for the first nine
months of 2002. Franchising revenues were $29.3 million, compared to $30.8
million last year. Net income for the nine months ended September 30, 2003 was
$1.2 million, or $0.12 per diluted share, compared to a net loss of $17.9
million or $1.74 per diluted share in the same period last year. Last year’s
results include a transitional goodwill impairment charge of $17.8 million, net
of tax benefits of $9.2 million, resulting from a change in accounting
principle.

“We are pleased to report our third consecutive quarter of profitability,” said
Thomas J. Bresnan, president and chief executive officer. “While the market for
IT training remains weak, revenue has stabilized, we improved our gross margin
over 220 basis points, reduced our SG&A, and improved earnings to $0.07 per
share in the third quarter, compared to a loss of $0.05 per share in the same
period last year. Importantly, we continue to streamline our operations and
build a leaner organization, which will benefit us when the market for IT
training begins to improve.”

Mr. Bresnan continued, “During the quarter we achieved several important
milestones. Foremost, we launched our highly anticipated Integrated Learning
Manager. This state-of-the-art learning management technology provides corporate
customers the ability to track and manage their employees’ training programs.
The Integrated Learning Manager is a distinct competitive advantage for New
Horizons and is now available in 35 countries, with over 138,000 enrolled users,
and has been deployed in over 1,700 organizations. Early response from our
customers has been extremely favorable and has already helped us win several
important contracts.”

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“Another bright spot for the quarter was consumer sales in the company-owned
locations, which increased over 25 percent versus the same period last year. We
have now rolled out the consumer program to the franchise network, and
anticipate similar strong results. We also continue to implement an aggressive
sales strategy in our government and enterprise segments. Moreover, we are
increasingly benefiting from the fact that we are the only IT training company
that is truly global and can offer a one-stop solution to Fortune 500
companies.”

“During the quarter, we signed a new franchise agreement for Dublin, Ireland,
which is projected to open in the first quarter of 2004. Additionally, New
Horizons Australia acquired a major competitor adding centers in major cities,
making them the largest corporate training organization in the country. And for
the third quarter in a row, New Horizons has topped the Microsoft Certified
Technical Education Centers (CTEC) quality metrics for overall customer
satisfaction with more New Horizons locations ranked among the top 20 CTECs than
all of the other training providers combined.”

System-wide revenues for the third quarter, which include revenues for all
training centers, both company-owned and franchised, totaled $98.4 million
versus $109.2 million in the prior year quarter. For the nine months ended
September 30, 2003, system-wide revenues were $301.4 million versus $332.5
million during the same period in 2002.

The company has scheduled an investor conference call for 5 p.m. eastern today
(Wednesday, October 22, 2003). There will be a live webcast of the conference
call over the investor relations page of the New Horizons Web site at
www.newhorizons.com and on www.streetevents.com.

For those who cannot listen to the live broadcast, an audio replay of the call
will be available on the above Web sites for 30 days. A telephone replay of the
call will also be available through October 29. To listen to the telephone
replay, dial 800-642-1687 (706-645-9291 outside the U.S.) and enter conference
ID 3375495.

About New Horizons

New Horizons Computer Learning Centers was named the world’s largest independent
IT training company by IDC in 2003. New Horizons is a subsidiary of New Horizons
Worldwide, Inc. (Nasdaq: NEWH). Through its Integrated Learning offering, New
Horizons provides customer-focused computer training choices with a wide variety
of tools and resources that reinforce the learning experience. With more than
255 centers in 50 countries, New Horizons sets the pace for innovative training
programs that meet the changing needs of the industry. Featuring the largest
sales force in the IT training industry, New Horizons has over 1,700 account
executives, 2,000 instructors and 1,900 classrooms. For more information, visit
www.newhorizons.com.

Except for historical information contained herein, the matters discussed in
this press release are forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those set forth in such forward-looking statements. Such risks and
uncertainties include, without limitation, the company’s dependence on the
timely development, introduction and customer acceptance of courses and new
products, the impact of competition and downward pricing pressures, the effect
of changing economic conditions, risks in technology development and the other
risks and uncertainties detailed from time to time in the company’s filings with
the Securities and Exchange Commission.

(tables follow)

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NEW HORIZONS WORLDWIDE, INC. AND SUBSIDIARIES
Consolidated Statements of Operations (Unaudited)
Three and nine months ended September 30, 2003 and 2002
(Dollars in thousands except per share data)

  Three months ended September 30, Nine months ended September 30, 2003 2002
2003 2002

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Revenues                          Franchising            Franchise fees   $ 336
  $ 110   $ 1,051   $ 546            Royalties    4,344    4,844    13,116  
 14,622            Courseware sales and other    5,104    5,396    15,114  
 15,596  

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         Total franchising revenues    9,784    10,350    29,281    30,764  
     Company-owned training centers    25,246    24,828    77,534    75,180  

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          Total revenues    35,030    35,178    106,815    105,944   Cost of
revenues    19,888    20,750    59,545    60,947   Selling, general and
administrative expenses    13,910    14,941    44,848    43,930  

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Operating income (loss)    1,232    (513 )  2,422    1,067   Interest expense  
 128    471    472    1,411   Investment income    32    44    100    148  

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Income before income taxes    1,136    (940 )  2,050    (196 ) Income tax
provision (benefit)    454    (376 )  820    (78 )

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Income before cumulative effect of change      in accounting principle    682  
 (564 )  1,230    (118 ) Cumulative effect of change in accounting principle,  
   net of tax of $9,200    --    --    --    (17,800 )

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Net income (loss)   $ 682   $ (564 ) $ 1,230   $ (17,918 )

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Weighted average number of common and common      equivalent shares outstanding
- Basic    10,387,931    10,357,812    10,387,749    10,284,295   Weighted
average number of common and common      equivalent shares outstanding -
Diluted    10,411,694    10,458,416    10,392,653    10,460,833   Basic Earnings
Per Share        Income (loss) per share before cumulative           effect of
change in accounting principle   $ 0.07   $ (0.05 ) $ 0.12   $ (0.01 )
    Cumulative per share effect of change in          accounting principle, net
of tax   $ --   $ --   $ --   $ (1.73 )     Net income (loss) per share   $ 0.07
  $ (0.05 ) $ 0.12   $ (1.74 ) Diluted Earnings Per Share        Income (loss)
per share before cumulative           effect of change in accounting principle  
$ 0.07   $ (0.05 ) $ 0.12   $ (0.01 )     Cumulative per share effect of change
in          accounting principle, net of tax   $ --   $ --   $ --   $ (1.73 )
    Net income (loss) per share   $ 0.07   $ (0.05 ) $ 0.12   $ (1.74 )

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NEW HORIZONS WORLDWIDE, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
September 30, 2003 and December 31, 2002
(Dollars in thousands, except per share data)

  September 30, December 31,   2003 2002

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  (unaudited)   Assets             Current assets:        Cash and cash
equivalents   $ 6,880   $ 5,085        Restricted cash    3,500    3,500  
     Accounts receivable, net    21,205    19,627        Inventories    1,336  
 1,334        Prepaid expenses    8,887    8,886        Refundable income
taxes    895    5,459        Deferred tax assets    2,210    2,209        Other
current assets    971    874  

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             Total current assets    45,884    46,974   Property, plant and
equipment, net    14,966    17,278   Goodwill    18,368    18,368   Cash
surrender value of life insurance    1,154    1,154   Deferred tax assets, net  
 23,061    23,061   Other assets    2,607    2,472  

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Total Assets   $ 106,040   $ 109,307  

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Liabilities and Stockholders' Equity   Current Liabilities:        Current
portion of long-term debt   $ 3,000   $ 6,504        Accounts payable    4,244  
 5,072        Deferred revenue    22,803    21,855        Other current
liabilities    19,097    18,228  

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             Total current liabilities    49,144    51,659   Long-term debt,
excluding current portion    5,389    7,952   Deferred rent    2,281    1,952  
Other long-term liabilities    613    374  

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             Total liabilities    57,427    61,937   Commitments and
contingencies    --    --   Stockholders' equity    48,613    47,370  

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Total Liabilities & Stockholders' Equity   $ 106,040   $ 109,307  

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NEW HORIZONS WORLDWIDE, INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows (Unaudited)
Nine months ended September 30, 2003 and 2002
(Dollars in thousands)

Nine months ended September 30, 2003 2002

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Cash flows from operating activities                   Net income (loss)   $
1,230   $ (17,918 ) Adjustments to reconcile net income (loss) to net cash and
cash       equivalents provided by operating activities:         Cumulative
effect of change in accounting principle    --    27,000         Deferred tax
benefit of change in accounting principle    --    (9,200 )       Depreciation
and amortization    5,270    5,581         Gain on disposal    (4 )  --  
      Cash provided (used) from the change in:             Accounts receivable  
 (1,733 )  (1,849 )           Inventories    (2 )  40             Prepaid
expenses and other assets    (80 )  (3,334 )           Income taxes    4,566  
 (1,290 )           Accounts payable    (828 )  1,903             Deferred
revenue    948    7,506             Other liabilities    1,090    66  
          Deferred rent    330    186  

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                Net cash provided by operating activities    10,787    8,691  

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Cash flows from investing activities         Cash paid for acquisitions made in
prior periods    --    (442 )       Additions to property, plant and equipment  
 (2,992 )  (2,893 )       Proceeds from sale of property, plant and equipment  
 38    --  

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                Net cash used in investing activities    (2,954 )  (3,335 )

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Cash flows from financing activities:         Proceeds from exercise of stock
options    12    1,060         Proceeds from issuance of debt    10,939    --  
      Principal payments on debt obligations    (16,989 )  (4,165 )

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                Net cash used in financing activities    (6,038 )  (3,105 )

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Net increase in cash and cash equivalents    1,795    2,251   Cash and cash
equivalents at beginning of period    8,585    6,077  

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Cash and cash equivalents at end of period   $ 10,380   $ 8,328  

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Supplemental disclosure of cash flow information         Cash paid for:  
          Interest   $ 389   $ 1,299  

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          Income taxes   $ 579   $ 618  

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