**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      DC 20549**

**Form      10-Q**

**For      the quarterly period ended March 31, 2006**

**EVCI      Career Colleges Holding Corp.**

| Delaware                                                                      | **06-1488212**                                      |
|-------------------------------------------------------------------------------|-----------------------------------------------------|
| (State                of other jurisdiction of incorporation or organization) | (IRS                Employer Identification Number) |

**1      Van Der Donck Street, 2**
**nd**

**      Floor, Yonkers, New York 10701**

**(914)      623-0700**

----

**Table      of Contents**

**Part      I**

**Financial      Information**

| **Item                1. Condensed Financial Statements**                                                                                                                                       | **Page** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|                                                                                                                                                                                            |     |
| Condensed                  Consolidated Balance Sheets as of March 31, 2006 (unaudited) and                  December                  31, 2005 (audited)                                       | 1        |
|                                                                                                                                                                                            |     |
| Condensed                Consolidated Statement of Operations for the three months ended March                31,                2006 (unaudited) and March 31, 2005 (unaudited)                | 2        |
|                                                                                                                                                                                            |     |
| Condensed                Consolidated Statement of Cash Flows for the three months ended March                31,                2006 (unaudited)                and March 31, 2005 (unaudited) | 3        |
|                                                                                                                                                                                            |     |
| Notes                to Condensed Consolidated Financial Statements                                                                                                                             | 4        |
|                                                                                                                                                                                            |     |
| **Item                2. Management’s Discussion and Analysis of Financial Condition and Results                of Operationa**                                                           | 13       |
|                                                                                                                                                                                            |     |
| Overview                and Critical Accounting Policies                                                                                                                                        | 13       |
|                                                                                                                                                                                            |     |
| Comparison                of the Three months ended March 31, 2006 and 2005                                                                                                                     | 19       |
|                                                                                                                                                                                            |     |
| Liquidity                and Capital Resources                                                                                                                                                  | 21       |
|                                                                                                                                                                                            |     |
| **Item                3. Quantitative and Qualitative Disclosures About Market                Risk**                                                                                            | 23       |
|                                                                                                                                                                                            |     |
| **Item                4. Controls and Procedures**                                                                                                                                         | 23       |
| **Part                II**                                                                                                                                                                      |     |
| **Other                Information**                                                                                                                                                            |     |
| **Item                1A. Risk Factors**                                                                                                                                                        | 25       |
|                                                                                                                                                                                            |     |
| **Forward-looking              Statements and Risk Factors**                                                                                                                                    |  25 |
|                                                                                                                                                                                            |     |
| **Item                6. Exhibits**                                                                                                                                                             | 31       |
|                                                                                                                                                                                            |     |
| **Signatures**                                                                                                                                                                                  | 40       |

----

**EVCI      CAREER COLLEGES HOLDING CORP. AND      SUBSIDIARIES**

**CONDENSED      CONSOLIDATED BALANCE      SHEET**

|                                                                                                                                            |   | **March                  31,** |        | **December                  31,** |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|-------------|-----------------------------------|--------|
|                                                                                                                                            |   | **2006**                       |        | **2005**                          |   |
|                                                                                                                                            |   | **(unaudited)**                |        |                              |   |
| **ASSETS**                                                                                                                                      |   |                           |        |                              |   |
|                                                                                                                                            |   |                           |        |                              |   |
| Current                  assets:                                                                                                                |   |                           |        |                              |   |
| Cash                  and cash equivalents                                                                                                      |   | $                              | 8,347,282   |                              | $      | 9,273,206 |   |
| Student                  accounts receivable, less allowance for doubtful accounts                                                              |   |                           |             |                              |   |  |   |
| of                  $3,712,658 and $2,449,488 respectively                                                                                      |   |                           | 10,258,354  |                              |   | 6,125,927 |   |
| Other                  receivables                                                                                                              |   |                           | 378,209     |                              |   | 284,021 |   |
| Prepaid                  income taxes                                                                                                           |   |                           | 293,648     |                              |   | 93,629 |   |
| Prepaid                  expenses and other current assets                                                                                      |   |                           | 901,007     |                              |   | 778,204 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| **Total                  current assets**                                                                                                       |   |                           | 20,178,500  |                              |   | 16,554,987 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| Property                  and equipment - net                                                                                                   |   |                           | 6,437,821   |                              |   | 6,789,683 |   |
| Intangible                  assets                                                                                                              |   |                           | 12,614,518  |                              |   | 12,832,881 |   |
| Goodwill                                                                                                                                        |   |                           | 5,020,121   |                              |   | 5,072,375 |   |
| Deferred                  income tax asset, net of valuation allowance of $2,037,500                                                            |   |                           | 5,557,500   |                              |   | 5,557,500 |   |
| Other                  assets                                                                                                                   |   |                           | 3,230,460   |                              |   | 3,179,051 |   |
| **Total                  Assets**                                                                                                               |   | $                              | 53,038,920  |                              | $      | 49,986,477 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS' EQUITY**                                                                                       |   |                           |             |                              |   |  |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| Current                  liabilities:                                                                                                           |   |                           |        |                              |   |   |   |
| Accounts                  payable and accrued expenses                                                                                          |   | $                              | 5,124,800   |                              | $      | 4,629,163 |   |
| Revolving                  credit line                                                                                                          |   |                           | 2,000,000   |                              |   | 2,000,000 |   |
| Deferred                  tuition revenue                                                                                                       |   |                           | 7,273,987   |                              |   | 3,347,608 |   |
| Current                  portion of capital lease obligation                                                                                    |   |                           | 318,315     |                              |   | 311,821 |   |
| Current                  portion of notes payable                                                                                               |   |                           | 2,250,000   |                              |   | 2,625,000 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| **Total                  current liabilities**                                                                                                  |   |                           | 16,967,102  |                              |   | 12,913,592 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| Capital                  lease obligation, net of current portion                                                                               |   |                           | 384,686     |                              |   | 466,743 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| Notes                  payable, net of current portion                                                                                          |   |                           | 9,750,000   |                              |   | 10,375,000 |   |
|                                                                                                                                            |   |                           |             |                              |   |  |   |
| Deferred                  rent                                                                                                                  |   |                           | 918,844     |                              |   | 868,065 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| **Total                  liabilities**                                                                                                          |   |                           | 28,020,632  |                              |   | 24,623,400 |   |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| Stockholders'                  Equity:                                                                                                          |   |                           |        |                              |   |   |   |
| Preferred                  stock - $.0001 par value; authorized 1,000,000 shares: none issued                  and                  outstanding |   |                           | —     |                              |   | — |   |
| Common                  stock - $.0001 par value; authorized 20,000,000 shares; issued                  and                                     |   |                           |        |                              |   |   |   |
| outstanding                  12,679,451 and 12,329,603 shares, respectively                                                                     |   |                           | 1,268       |                              |   | 1,264 |   |
| Additional                  paid-in capital                                                                                                     |   |                           | 51,451,697  |                              |   | 51,030,320 |   |
| Accumulated                  deficit                                                                                                            |   |                           | (26,434,677 | )                                 |   | (25,668,507 | ) |
|                                                                                                                                            |   |                           |        |                              |   |   |   |
| **Stockholders'                  equity**                                                                                                       |   |                           | 25,018,288  |                              |   | 25,363,077 |   |
| **Total                  Liabilities and Stockholders' Equity**                                                                                 |   | $                              | 53,038,920  |                              | $      | 49,986,477 |   |

**See      Notes to Condensed Consolidated Financial      Statements**

----

****EVCI      CAREER COLLEGES HOLDING CORP. AND      SUBSIDIARIES****

**CONDENSED        CONSOLIDATED STATEMENT OF OPERATIONS**

**(unaudited)**

|                                                                   |   | **Three                  Months Ended March 31,** |         |
|------------------------------------------------------------------------|--------|---------------------------------------------------|--------------|
|                                                                   |   | **2006**                                          |         | **2005** |   |
|                                                                   |   |                                              |         |   |   |
| Net                  revenue                                           |   | $                                                 | 18,791,973   |   | $ | 10,130,543 |   |
| Other                  income                                          |   |                                              | 107,395      |   |   | 64,203 |   |
|                                                                   |   |                                              |    |   |   |   |   |
| Total                  revenue                                         |   |                                              | 18,899,368   |   |   | 10,194,746 |   |
|                                                                   |   |                                              |         |   |   |   |   |
| Operating                  expenses:                                   |   |                                              |         |   |   |   |   |
| Cost                  of revenue                                       |   |                                              | 6,230,362    |   |   | 2,767,450 |   |
| Selling,                  general and administrative                   |   |                                              | 13,040,253   |   |   | 6,531,945 |   |
|                                                                   |   |                                              |         |   |   |    |   |
| Total                  operating expenses                              |   |                                              | 19,270,615   |   |   | 9,299,395 |   |
|                                                                   |   |                                              |              |   |   |  |   |
| Income/                  (Loss) from operations                        |   |                                              | (371,247     | ) |   | 895,351 |   |
|                                                                   |   |                                              |         |   |   |   |   |
| Other                  income (expense):                               |   |                                              |         |   |   |   |   |
| Interest                  and financing costs                          |   |                                              | (438,130     | ) |   | (56,150 | ) |
| Interest                  income                                       |   |                                              | 73,207       |   |   | 17,796 |   |
|                                                                   |   |                                              |         |   |   |   |   |
|                                                                   |   |                                              |              |   |   |  |   |
| Income/(loss)                  before provision for income taxes       |   |                                              | (736,170     | ) |   | 856,997 |   |
|                                                                   |   |                                              |         |   |   |   |   |
| Provision                  for income taxes                            |   |                                              | 30,000       |   |   | 190,000 |   |
|                                                                   |   |                                              |         |   |   |   |   |
| Net                  income/(loss)                                     |   |                                              | (766,170     | ) |   | 666,997 |   |
|                                                                   |   |                                              |         |   |   |   |   |
| Net                  income per common share:                          |   |                                              |         |   |   |   |   |
| Basic                                                                  |   | $                                                 | (0.06        | ) | $ | 0.05 |   |
| Diluted                                                                |   | $                                                 | (0.06        | ) | $ | 0.05 |   |
|                                                                   |   |                                              |         |   |   |   |   |
| Weighted                  average number of common shares outstanding; |   |                                              |         |   |   |   |   |
| Basic                                                                  |   |                                              | 12,432,867   |   |   | 12,371,967 |   |
| Diluted                                                                |   |                                              | 12,432,867   |   |   | 12,937,900 |   |

**See      Notes to Condensed Consolidated Financial      Statements**

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**EVCI        CAREER COLLEGES HOLDING CORP. AND SUBSIDIARIES **

**CONDENSED        CONSOLIDATED STATEMENT OF CASH FLOWS**

**(unaudited)**

** **

|                                                                                                                        |   | **Three                  Months Ended March 31,** |       |
|-----------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------|------------|
|                                                                                                                        |   | **2006**                                          |       | **2005** |   |
|                                                                                                                        |   |                                              |       |   |   |
| Cash                  flows from operating activities:                                                                      |   |                                              |       |   |   |
| Net                  income\(loss)                                                                                          |   | $                                                 | (766,170   | ) | $ | 666,997 |   |
| Adjustments                  to reconcile net income/ (loss) to net cash provided by operating                  activities: |   |                                              |       |   |   |   |   |
| Depreciation                  and amortization                                                                              |   |                                              | 897,682    |   |   | 412,651 |   |
| Bad                  debts expense                                                                                          |   |                                              | 605,734    |   |   | 200,000 |   |
| Stock                  based compensation                                                                                   |   |                                              | 421,381    |   |   | 100,992 |   |
| Changes                  in operating assets and liabilities;                                                               |   |                                              |       |   |   |   |   |
| Increase                  in students accounts receivable                                                                   |   |                                              | (4,738,161 | ) |   | (3,392,742 | ) |
| Increase                  in prepaid expenses and other current assets                                                      |   |                                              | (216,991   | ) |   | (468,476 | ) |
| (Increase)/decrease                  in other assets                                                                        |   |                                              | 8,020      |   |   | (151,274 | ) |
| Increase                  in accounts payable and accrued expenses                                                          |   |                                              | 495,638    |   |   | 567,550 |   |
| Increase                  in income taxes payable and prepaid income taxes                                                  |   |                                              | (200,019   | ) |   | (329,729 | ) |
| Increase                  in deferred tuition revenue                                                                       |   |                                              | 3,926,379  |   |   | 2,536,622 |   |
| Increase                  in deferred rent                                                                                  |   |                                              | 50,779     |   |   | 59,545 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| **Net                  cash provided by operating activities**                                                              |   |                                              | 484,272    |   |   | 202,136 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| Cash                  flows from investing activities:                                                                      |   |                                              |       |   |   |   |   |
| Purchases                  of property and equipment                                                                        |   |                                              | (189,511   | ) |   | (653,379 | ) |
| Deposits                  returned                                                                                          |   |                                              | 59,627     |   |   | — |   |
| Escrow                  funds received from Interboro previous sharehlolder                                                 |   |                                              | 52,253     |   |   | — |   |
| Cash                  paid on acquisition of PSB, net of cash received of                  $11,768                          |   |                                              | —    |   |   | (658,232 | ) |
| **Net                  cash used in investing activities**                                                                  |   |                                              | (77,631    | ) |   | (1,311,611 | ) |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| Cash                  flows from financing activities:                                                                      |   |                                              |       |   |   |   |   |
| Principal                  payments on capital lease obligation                                                             |   |                                              | (75,563    | ) |   | (83,717 | ) |
| Principal                  payment on notes payable                                                                         |   |                                              | —    |   |   | (82,691 | ) |
| Financing                  costs related to bank agreement                                                                  |   |                                              | (257,002   | ) |   |   |   |
| Repayment                  of note payable                                                                                  |   |                                              | (1,000,000 | ) |   |   |   |
| Proceeds                  from exercise of options and warrants                                                             |   |                                              | —    |   |   | 700,000 |   |
| **Net                  cash provided/ (used in) by financing activities**                                                   |   |                                              | (1,332,565 | ) |   | 533,592 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| Net                  decrease in cash and cash equivalents                                                                  |   |                                              | (925,924   | ) |   | (575,883 | ) |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| Cash                  and cash equivalents at beginning of period                                                           |   |                                              | 9,273,206  |   |   | 10,504,308 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| Cash                  and cash equivalents at end of period                                                                 |   | $                                                 | 8,347,282  |   | $ | 9,928,425 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
|                                                                                                                        |   |                                              |            |   |   |  |   |
| **Supplemental                  disclosures of cash flow information:**                                                     |   |                                              |            |   |   |  |   |
|                                                                                                                        |   |                                              |       |   |   |  |   |
| Cash                  paid during the period for:                                                                           |   |                                              |            |   |   |  |   |
| Interest                                                                                                                    |   | $                                                 | 300,185    |   | $ | 62,469 |   |
| Income                  taxes                                                                                               |   | $                                                 | 230,019    |   | $ | 557,792 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| **Supplemental                  schedule of noncash investing and financing                  activities:**                  |   |                                              |       |   |   |   |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |
| Capital                  lease obligations incurred in the acquisition of equipment                                         |   | $                                                 | —    |   | $ | 397,022 |   |
|                                                                                                                        |   |                                              |       |   |   |   |   |

**See      Notes to Condensed Consolidated Financial      Statements**

----

**Notes      to Condensed Consolidated Financial Statements**

**Note      1 - Business and Basis of Presentation**

*Interboro.*

*TCI*

*PSB.*

----

**Note      2 - Stockholders’ Equity**

**(a)      Earnings per share**

|                                                                                                |   | **Three                months ended March 31,** |       |
|-----------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|
|                                                                                                |   | **2006**                                        |       | **2005** |   |
|                                                                                                |   |                                            |       |   |   |
| Basic                weighted average number of common shares outstanding*                          |   |                                            | 12,432,867 |   |   | 12,371,967 |   |
|                                                                                                |   |                                            |       |   |   |   |   |
| Effect                of assumed exercise of outstanding options                                    |   |                                            | -          |   |   | 476,399 |   |
|                                                                                                |   |                                            |       |   |   |   |   |
| Effect                of assumed exercise of outstanding                warrants                    |   |                                            | -          |   |   | 89,534 |   |
|                                                                                                |   |                                            |       |   |   |   |   |
| Diluted                weighted average number of shares of common stock                outstanding |   |                                            | 12,432,867 |   |   | 12,937,900 |   |
|                                                                                                |   |                                            |       |   |   |   |   |
| Options                and warrants not included above**                                            |   |                                            | 2,333,594  |   |   | 456,905 |   |

**(b)      Stock Grants**

----

**(c)      Stock Options**

----

|                                               |   | Three                months ended March 31,  |                   |
|----------------------------------------------------|--------|---------------------------------------------------|------------------------|
|                                               |   | 2006                                              |                   | 2005  |   |
|                                               |   |                                              |                   |   |   |
| Risk                free interest rate             |   |                                              | 5                      | % |   | 3.25%              to 3.75 | % |
| Expected                volatility of common stock |   |                                              | 92                     | % |   | 62 | % |
| Dividend                yield                      |   |                                              | 0                      | % |   | 0 | % |
| Expected                option term                |   |                                              | 4                years |   |   | 3                to 5 years |   |

----

|                                                            |   |  Number                of shares |      | Weighted-                Average Exercise Price per Share |   | Weighted-Average                Remaining Contractual Term (in years) |   | Aggregate                Intrinsic Value |   |
|-----------------------------------------------------------------|--------|---------------------------------------|-----------|-----------------------------------------------------------|--------|-----------------------------------------------------------------------|--------|------------------------------------------|--------|
| Options                outstanding at December 31, 2005         |   |                                  | 2,017,923 |                                                      | $      | 5.11                                                                  |   |                                     |   |   |   |   |   |
| Options                granted                                  |   |                                  | 40,000    |                                                      |   | 1.39                                                                  |   |                                     |   |   |   |   |   |
| Options                exercised                                |   |                                  | —   |                                                      |   | —                                                               |   |                                     |   |   |   |   |   |
| Options                forfeited or expired                     |   |                                  | —   |                                                      |   | —                                                               |   |                                     |   |   |   |   |   |
| Options                outstanding at March 31, 2006            |   |                                  | 2,057,923 |                                                      | $      | 5.05                                                                  |   |                                     | 3.37   |   | $ | 7,845,000 |   |
| Options                vested and exercisable at March 31, 2006 |   |                                  | 1,481,938 |                                                      | $      | 4.19                                                                  |   |                                     | 2.88   |   | $ | 5,357,000 |   |

|                                                     |   | Number                of                shares |    | Weighted-                Average Exercise Price per                Share |   | Weighted-Average                Remaining Contractual Term (in years) |   |
|----------------------------------------------------------|--------|------------------------------------------------|---------|--------------------------------------------------------------------------|--------|-----------------------------------------------------------------------|--------|
| Options                outstanding at December 31, 2005  |   |                                           | 818,655 |                                                                     | $      | 7.25                                                                  |   |   |   |   |
| Options                granted                           |   |                                           | 40,000  |                                                                     | $      | 1.39                                                                  |   |   |   |   |
| Options                vested                            |   |                                           | 282,670 |                                                                     | $      | 5.96                                                                  |   |   |   |   |
| Options                forfeited or expired              |   |                                           | — |                                                                     |   | —                                                               |   |   |     |   |
|  Nonvested                options at March 31, 2006 |   |                                           | 575,985 |                                                                     | $      | 7.28                                                                  |   |   | 4.03 |   |

----

| Reported                net income                                          |   | $      | 666,997  |   |
|-----------------------------------------------------------------------------|--------|--------|----------|--------|
| Add:                 Stock based compensation expense included in      |   |   |     |   |
| recorded                net income, net of related tax effects              |   |   | 100,992  |   |
|                                                                        |   |   |     |   |
| Deduct:                Total stock based employee compensation expense      |   |   |     |   |
| determined                under fair value based method for all awards, net |   |   |     |   |
| of                related tax effects                                       |   |   | (283,615 | )      |
|                                                                        |   |   |     |   |
| Pro                forma net income                                         |   | $      | 484,374  |   |
|                                                                        |   |   |     |   |
| Reported                net income per common share:                        |   |   |     |   |
| Basic                                                                       |   | $      | 0.05     |   |
| Diluted                                                                     |   | $      | 0.05     |   |
|                                                                        |   |   |     |   |
| Pro                forma net income per common share:                       |   |   |     |   |
| Basic                                                                       |   | $      | 0.04     |   |
| Diluted                                                                     |   | $      | 0.04     |   |

**Note      3 -Revenue Recognition**

**Note      4 - Acquisitions **

*Pennsylvania      School of Business, Inc.*

----

*Technical      Career Institutes, Inc.*

| Current                assets            |   | $      | 16,468,000 |   |
|------------------------------------------|--------|--------|------------|--------|
| Property                and equipment    |   |   | 546,000    |   |
| Intangible                assets         |   |   | 12,440,000 |   |
| Goodwill                                 |   |   | 1,157,000  |   |
| Other                assets              |   |   | 882,000    |   |
| Total                assets acquired     |   |   | 31,493,000 |   |
| Current                liabilities       |   |   | 15,363,000 |   |
| Other                liabilities         |   |   | 63,000     |   |
| Total                liabilities assumed |   |   | 15,426,000 |   |
|                                     |   |   |       |   |
| Net                assets acquired       |   | $      | 16,067,000 |   |

|                                        |   | **Three                months ended March 31, 2005** |       |
|---------------------------------------------|--------|------------------------------------------------------|------------|
| Revenue                                     |   | $                                                    | 19,982,000 |   |
| Net                income                   |   |                                                 | 1,384,000  |   |
| Diluted                net income per share |   | $                                                    | 0.11       |   |

----

**Note      5 - Notes Payable**

----

**Note      6 - U.S. Department of Education Program Review**

|                             |   |                                         |       |                                                                                               |   | **Department                of Education Program Review Sample** |   |
|----------------------------------|--------|----------------------------------------------|------------|----------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------|--------|
| Grant                Award Years |   | Total                Title IV Funds Received |       | Total                New York State Tuition Assistance Program (TAP) Funds                Received |   | Sample                Size                                       |   | Misscored                ATB TestsResulting                in the Admission of Ineligible Students |   | Misscored                ATB TestsResulting                in No Effect to Admission Status |   |
| 2002/2003                        |   | $                                            | 8,200,000  |                                                                                               | $      | (1                                                               | )      |   | 15 |   |   | 2 |   |   | 4 |   |
| 2003/2004                        |   |                                         | 12,600,000 |                                                                                               |   | 12,800,000                                                       |   |   | 15 |   |   | 1 |   |   | 4 |   |
| 2004/2005                (2)     |   |                                         | 17,100,000 |                                                                                               |   | 19,200,000                                                       |   |   | 30 |   |   | 0 |   |   | 3 |   |
| Totals                           |   | $                                            | 37,900,000 |                                                                                               | $      | 32,000,000                                                       |   |   | 60 |   |   | 3 |   |   | 11 |   |
|                             |   |                                         |       |                                                                                               |   |                                                             |   |   |   |   |   |   |   |   |   |   |

| (1)                This award year was reviewed and the liability was paid under a prior                NYS                Comptroller's Office audit.                                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)                Interboro instituted a new process within the award years to minimize                risk                of scoring errors resulting in ineligible                admissions. |

----

**Item      2. Management’s Discussion and Analysis of Financial Condition and Results of      Operations.**

**Overview      and Critical Accounting Policies**

*First      Quarter Developments*

| ·   | Spring                2006 enrollments were approximately as                follows: |
|--------------------|--------------------------------------------------------------------------------------|

| ·   | On                January 13, 2006, EVCI announced that SED had imposed enrollment                caps on                students enrolled for the first time at Interboro during the spring                2006                through spring 2007 semesters. The caps limit initial first-time                enrollment and first-time enrollment after approximately the third                week of                the semester as follows: |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                       |   | **Initial** |   | **After                approximately****3                Weeks*** |   |
|----------------------------|--------|-------------|--------|-------------------------------------------------------------------|--------|
| Spring                2006 |   |        | 900    |                                                              |   | 850 |   |
| Summer                2006 |   |        | 900    |                                                              |   | 850 |   |
| Fall                2006   |   |        | 1,080  |                                                              |   | 1,000 |   |
| Spring                2007 |   |        | 1,080  |                                                              |   | 1,000 |   |

----

| ·   | On                February 1, 2006 James Melville, Jr., Ph.D. became President of TCI.                Dr.                Melville was employed by Mercy College, Dobbs Ferry, New York, from                1968                until he became President of TCI. While at Mercy College, he held                the                following positions: 2004-January, 2006, Provost and Vice President                for                Academic Affairs; 1990 to 2004, Division Chair, Department of Natural                Sciences and Veterinary Technology; 1986-1989, Dean of Graduate Studies                and Research; 1983-1986; Dean of Faculty for Arts and Sciences; 1971-1983,                Dean for Academic Affairs. He** **holds                three degrees, with concentrations in biology, a BS from Iona College,                and                an MS and Ph.D. from Fordham University. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | On                February 3, 2006, EVCI announced that SED had requested Interboro                and TCI                to develop teach out plans for their students. This SED action was                in                response to a Regents Advisory Council on Postsecondary Accreditation                recommendation that was based on concerns about Interboro’s and EVCI’s                financial viability, notwithstanding the fact that the Regents Advisory                Council did not have (nor did it request from EVCI) financial information                regarding EVCI or Interboro that we believe is reasonably necessary                to                assess EVCI’s financial viability. If, in the future SED determined it was                necessary to close either or both schools, teach out plans would                give                students the opportunity to complete their course of study at other                colleges. The EVCI announcement noted that Johanna-Duncan Poitier,                Deputy                Commissioner of SED’s Office of Higher Education, was quoted in a recent                *New                York Times*                article that the request for teach out plans “does not mean we expect to                be closing them down, but there should be a plan because of the large                number of students.” |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | EVCI                submitted to SED Interboro’s Institutional Effectiveness Plan, on February                22, 2006. By letter, dated March 13, 2006, SED advised EVCI of the                following about the Plan: “in general, it satisfactorily addresses both                the registration standards in Commissioner’s Regulations and the findings                and recommendations based on the Department’s review in the spring 2005.”                The letter indicated that the effectiveness of specific components                of the                Plan “in promoting and assessing intended changes will be determined                through careful internal and Department reviews.” SED’s letter directed                effectiveness assessments to focus on contributions being made to                “increased persistence and graduation                rates.” |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | On                March 6, 2006, the employment term under the employment agreement                with our                Chief Executive Officer and President, Dr. John J. McGrath, was extended                for a year to December 31, 2008, and Joseph D. Alperin, our General                Counsel and Vice President for Corporate Affairs, entered into a                new three                year employment agreement with an employment term expiring February                28,                2009. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | By                letter to EVCI, dated March 14, 2006, SED itemized the documents                that                constitute the full final report of SED’s review process that began with                two site reviews in the spring 2005. The letter and those                documents have been filed as exhibits to prior EVCI SEC reports.                SED’s letter advised that the information in Interboro’s final response,                dated February 3, 2006, to the SED Draft Report regarding measures                taken                and planned “appear to be appropriate.” The SED letter “extends the                registration of Interboro’s programs in accordance with the Commissioner’s                Regulations and Department practice for renewal.” It also advised that SED                is expecting additional information regarding the scope of implementation                and on outcomes, noting that SED wants improvements in performance                with                respect to “(1) admission of students who have a reasonable prospect of                academic success in the context of the institution’s services and                programs; and (2) a record of student persistence and serious achievement                at the college level.” |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | On                March 31, 2006, EVCI’s principal credit facility was amended and restated.                The terms of the revised facility are summarized in Note 5 to Condensed                Consolidated Financial Statements included with this report. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Revenue      Recognition*

*Student      accounts receivable*

*Estimates*

*Goodwill      and other intangible assets*

----

*Marketing*

|   | **Semester**                           | **Period** |
|--------|----------------------------------------|------------|
|   |                                   |       |
|   | June                through September  | Fall       |
|   | October                through January | Spring     |
|   | February                through May    | Summer     |

*SFAS      No. 123R*

*Income      taxes*

*Niche      market*

----

*Enrollments*

|   | **2006** | **2005** | **2004** | **2003** |
|--------|----------|----------|----------|----------|
|   |     |     |     |     |
| Spring | 6,160    | 3,700    | 2,800    | 1,850    |
| Summer |     | 2,650    | 1,975    | 1,100    |
| Fall   |     | 7,600    | 3,900    | 2,300    |

*Capacity*

*Seasonality      *

----

*Billing      and collections*

*Cost      of revenue*

*Other      salaries and all benefits*

----

**Comparison      of the three months ended March 30, 2006 to three months ended March 31,      2005**

|                                                          |   | **Three                months ended March 31,** |   |
|---------------------------------------------------------------|--------|-------------------------------------------------|--------|
|                                                          |   | **2006**                                        |   | **2005** |   |
| Total                revenue                                  |   |                                            | 100.0  | % |   | 100.0 | % |
|                                                          |   |                                            |   |   |   |   |   |
| Cost                of revenue                                |   |                                            | 33.0   |   |   | 27.1 |   |
| Selling,                general and administrative expenses   |   |                                            | 69.0   |   |   | 64.1 |   |
| Total                operating expense                        |   |                                            | 102.0  |   |   | 91.2 |   |
| Income(loss)                before provision for income taxes |   |                                            | (3.9   | ) |   | 8.4 |   |
| Net                income (loss)                              |   |                                            | (4.1   | ) |   | 6.5 |   |

----

|                                 |   | **March                31,                2006**  |   |
|--------------------------------------|--------|--------------------------------------------------------|--------|
|                                 |   | **Interboro**                                          |   | **TCI** |   | **PSB** |   | **Total** |   |
|                                 |   |                                                   |   |   |   |   |   |   |   |
| Adjunct                instructors   |   |                                                   | 105    |   |   | 96 |   |   | 4 |   |   | 205 |   |
| Full-time                instructors |   |                                                   | 69     |   |   | 79 |   |   | 4 |   |   | 152 |   |
| Tutors                and Testers    |   |                                                   | 40     |   |   | 8 |   |   | - |   |   | 48 |   |
| Admissions                staff      |   |                                                   | 30     |   |   | 42 |   |   | 3 |   |   | 75 |   |
| Deans                and staff       |   |                                                   | 10     |   |   | 24 |   |   | - |   |   | 34 |   |
| Academic                advisors     |   |                                                   | 19     |   |   | 6 |   |   | - |   |   | 25 |   |
| Librarians                           |   |                                                   | 11     |   |   | 4 |   |   | - |   |   | 15 |   |
| Total                                |   |                                                   | 284    |   |   | 259 |   |   | 11 |   |   | 554 |   |

|                                            |   | **Three                months ended March                31, **  |   |
|-------------------------------------------------|--------|----------------------------------------------------------------------------|--------|
|                                            |   | **2006 **                                                             |   | **2005**  |   |
| Salaries                and benefits            |   |                                                                       | 28.1   | % |   | 26.7 | % |
| Marketing                                       |   |                                                                       | 7.0    |   |   | 8.8 |   |
| Depreciation                                    |   |                                                                       | 4.0    |   |   | 4.1 |   |
| Professional                and consulting fees |   |                                                                       | 5.3    |   |   | 3.0 |   |
| Non                cash compensation            |   |                                                                       | 2.2    |   |   | 1.0 |   |
| Other                expenses                   |   |                                                                       | 22.4   |   |   | 20.5 |   |
| Total                                           |   |                                                                       | 69.0   | % |   | 64.1 | % |
|                                            |   |                                                                       |   |   |   |   |   |

----

**Liquidity      and Capital Resources**

----

|                                              |   | Payments                due by period (in                thousands of dollars) |   |
|---------------------------------------------------|--------|-------------------------------------------------------------------------------------|--------|
|                                              |   | Total                                                                               |   | Less                than                One year |   | 1-3years |   | 3-5years |   | More                than 5 years |   |
|                                              |   |                                                                                |   |   |   |   |   |   |   |   |   |
| Revolving                line of credit           |   | $                                                                                   | 2,000  |   | $ | 2,000 |   | $ | - |   | $ | - |   | $ | - |   |
| Long-Term                Debt                     |   |                                                                                | 12,000 |   |   | 2,250 |   |   | 9,750 |   |   | - |   |   | - |   |
| Capital                leases                     |   |                                                                                | 703    |   |   | 318 |   |   | 379 |   |   | 6 |   |   | - |   |
| Operating                leases                   |   |                                                                                | 40,145 |   |   | 5,320 |   |   | 15,062 |   |   | 14,329 |   |   | 5,434 |   |
|                                              |   |                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                contractual cash obligations |   | $                                                                                   | 54,848 |   | $ | 9,888 |   | $ | 25,191 |   | $ | 14,335 |   | $ | 5,434 |   |

----

**Item      3 Quantitative and Qualitative Disclosures about Market      Risk.**

*Interest      Rate Risk*

**Item      4. Controls and Procedures**

*Disclosure      Controls and Procedures*

*Internal      Control Over Financial Reporting*

----

*Control      Environment*

*Revenue      and Student Accounts Receivable*

*Cash      Management*

*Property      Plant and Equipment*

----

**PART      II**

**OTHER      INFORMATION**

**Item      1A. Risk Factors**

**Forward-looking      Statements and Risk Factors **

| **·  ** | **A                failure by any of our colleges to comply with extensive federal and                state                regulations could have a material adverse impact on its ability to                operate                and grow.** |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Adverse                changes in the rules governing, or the amount or timing of, TAP                disbursements could materially impede Interboro’s and TCI’s ability to                operate.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **·  ** | **We                do not expect that Interboro or EVCI will be profitable in 2006.** |
|------------------------|----------------------------------------------------------------------------------------|

| **·  ** | **Interboro                may be subject to even more severe action by SED if it is not able                to                achieve the 65% persistence rate required by SED or to implement                other                required changes at Interboro to SED’s                satisfaction.** |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Adverse                changes in the rules governing, or the amount or timing of, Pell                program                disbursements could materially impede our college’s ability to                operate.** |
|------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Title                IV program reviews of any EVCI college could result in it being required                to make material refunds of Title IV and TAP funds and EVCI being                required                to reduce its operating income by the amount of those refunds.** |
|------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                             |   |                                         |       |                                                                                               |   | **Department                of Education Program Review Sample** |   |
|----------------------------------|--------|----------------------------------------------|------------|----------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------|--------|
| Grant                Award Years |   | Total                Title IV Funds Received |       | Total                New York State Tuition Assistance Program (TAP) Funds                Received |   | Sample                Size                                       |   | Misscored                ATB TestsResulting                in the Admission of Ineligible Students |   | Misscored                ATB TestsResulting                in No Effect to Admission Status |   |
| 2002/2003                        |   | $                                            | 8,200,000  |                                                                                               | $      | (1                                                               | )      |   | 15 |   |   | 2 |   |   | 4 |   |
| 2003/2004                        |   |                                         | 12,600,000 |                                                                                               |   | 12,800,000                                                       |   |   | 15 |   |   | 1 |   |   | 4 |   |
| 2004/2005                (2)     |   |                                         | 17,100,000 |                                                                                               |   | 19,200,000                                                       |   |   | 30 |   |   | 0 |   |   | 3 |   |
| Totals                           |   | $                                            | 37,900,000 |                                                                                               | $      | 32,000,000                                                       |   |   | 60 |   |   | 3 |   |   | 11 |   |
|                             |   |                                         |       |                                                                                               |   |                                                             |   |   |   |   |   |   |   |   |   |   |

| (1)                This award year was reviewed and the liability was paid under a prior                NYS                Comptroller's Office audit.                                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)                Interboro instituted a new process within the award years to minimize                risk                of scoring errors resulting in ineligible                admissions. |

----

| **·  ** | **Our                failure to satisfy specific financial responsibility standards established                by federal and New York state regulators could have a material adverse                effect on us.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | equity                ratio, which measures the institution’s capital resources, ability to                borrow and financial viability |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | primary                reserve ratio, which measures the institution’s ability to support current                operations from expendable resources                and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | net                income ratio, which measures the institution’s ability to operate at a                profit. |
|--------------------|------------------------------------------------------------------------------------------------------------------------|

----

| **·  ** | **A                future TAP audit could result in Interboro or TCI being required                to make                material refunds of TAP grants and EVCI being required to reduce                its                operating income by the full amount of those                refund.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | **Changes                in Ability to Benefit regulations could materially and adversely                affect                Interboro’s and TCI’s ability to operate and grow.** |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Our                failure to repay amounts outstanding under our amended and restated                credit                agreement when due could have a materially adverse effect on our                business                and financial position.** |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Over                the longer term, we expect enrollments at, and earnings of, our colleges                to grow at a much slower rate than they have since we acquired Interboro.** |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **If                Interboro is unable to improve its persistence and graduation rates                to                levels SED deems acceptable, the Board of Regents may deny or adversely                condition Interboro’s                reaccredidation.** |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **If                SED continues to deny Interboro’s Yonkers site extension center status for                a protracted period of time, Interboro’s ability to continue operations in                Yonkers could be materially and adversely                affected.** |
|------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **The                capital and operating costs of implementing agreements with SED,                in                response to SED’s recommendations, could significantly exceed the                estimates we have made to                date.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Our                margins may continue to erode if the maximum federal and state grants                and                loans do not increase over                time.** |
|------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **The                seasonality of our enrollments produces significant variations in                our                results from quarter to                quarter.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **If                our common stock is delisted from Nasdaq, the liquidity of our common                stock and our ability to raise additional capital when we may need                it most                could be adversely affected.** |
|------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | the                liquidity of our common stock would be impaired, not only in the                number of                shares that could be bought and sold and lower prices for them, but                also                through delays in the timing of transactions and reduction in security                analysts’ and the news media’s coverage of                us. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | these                trading factors would also make our common stock materially less                attractive to potential sources of financing that we may require,                including in connection with a refinancing or repayment of our bank                debt. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Actual                or threatened legal proceedings against us or any of our colleges                by                regulatory agencies or private parties could have a material adverse                effect on our business.** |
|------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **The                loss of the services of key management personnel could have a material                adverse effect on our operations and growth.** |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Our                business and results could materially suffer if we improperly balance                or                divert resources from our operations to making acquisitions or if                we make                acquisitions that do not meet our expectations.** |
|------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **The                impact of unionization of Interboro’s faculty is not                known.** |
|------------------------|---------------------------------------------------------------------------------------------------------|

| **·  ** | **If                the operation of a college’s computer system is adversely affected by                computer viruses that are not recognized by available anti-virus                software,                or for any other reason, its ability to operate could be severely                impaired.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | **Terrorist                activity, or the threat of it, in the New York Metropolitan area                could                adversely affect Interboro and TCI.**  |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Interboro’s                inability to foster and maintain relationships with community                organizations in the communities where its college sites are located                could                adversely affect those                sites.** |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **A                change of control of EVCI could adversely affect our college’s receipt of                Pell and TAP funds.** |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Future                changes in ownership of our common stock could substantially limit                the                utilization of our net operating loss                carryforwards.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **·  ** | **Actual                or potential future sales of shares of our common stock by management                could have an adverse effect on the market price of our common                stock.** |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Our                share price has ranged greatly since we went public and may be very                volatile in the future.** |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Provisions                of laws or regulations, our certificate of incorporation and by-laws                and                agreements with our executive officers could discourage takeover                attempts                and other investments in our common                stock.** |
|------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Our                classified board limits stockholder voting for election and removal                of                directors.** |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------|

| **·  ** | **Indemnification                and limitation of liability of our officers and directors may insulate                them from accountability to stockholders at substantial cost to                us.** |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      6. Exhibits **

| Exhibit                No.* |     | Description                of Exhibit                                                                                                                                                |
|-----------------------------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                        |     |                                                                                                                                                                                 |
| 3.1[1]                 |  -- | Certificate                of Incorporation of the Registrant.                                                                                                                       |
|                        |     |                                                                                                                                                                                 |
| 3.2[1]                 |  -- | Certificate                of Merger of Educational Video Conferencing, Inc. (a New York Corporation)                into the Registrant (a Delaware Corporation).                   |
|                        |     |                                                                                                                                                                                 |
| 3.3[1]                 |  -- | Certificate                of Correction of the Certificate of Incorporation of the                Registrant.                                                                       |
|                        |     |                                                                                                                                                                                 |
| 3.4[3]       |  -- | Certificate                of Amendment, dated February 22, 1999, to Certificate of Incorporation                of                the Registrant.                                   |
|                        |     |                                                                                                                                                                                 |
| 3.5[23]                |  -- | Amended                and Restated By-Laws of the Registrant.                                                                                                                       |
|                        |     |                                                                                                                                                                                 |
| 3.6[5]                 |  -- | Certificate                Eliminating Reference to Series A 7.5% Convertible Preferred Stock                from                the Certificate of Incorporation of the Registrant. |
|                        |     |                                                                                                                                                                                 |
| 3.7[16]                |  -- | Certificate                of Amendment, dated May 23, 2002, to Certificate of Incorporation                of the                Registrant.                                        |
|                        |     |                                                                                                                                                                                 |
| 3.8[5]                 |  -- | Certificate                Eliminating Reference to Series B 7% Convertible Preferred Stock                from the                Certificate of Incorporation of the Registrant.   |
|                        |     |                                                                                                                                                                                 |
| 3.9[5]                 |  -- | Certificate                Eliminating Reference to Series C 8% Convertible Preferred Stock                from the                Certificate of Incorporation of the Registrant.   |
|                        |     |                                                                                                                                                                                 |
| 3.10[20]               |  -- | Certificate                of Amendment, filed August 9, 2004, to Certificate of Incorporation                of the                Registrant.                                      |

----

|                              |     |                                                                                                                                                                                                                                                  |
|-----------------------------------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.2[2]                       |  -- | Form                of Common Stock certificate.                                                                                                                                                                                                      |
|                              |     |                                                                                                                                                                                                                                                  |
| 4.3[4]                       |  -- | Warrant                Agreement, dated January 14, 2000, between the Registrant and Bruce.                R.                Kalisch.                                                                                                                 |
|                              |     |                                                                                                                                                                                                                                                  |
| 4.4[6]                       |  -- | Warrant                Agreement, dated April 18, 2000, between the Registrant and Peter                J.                Solomon Company Limited.                                                                                                    |
|                              |     |                                                                                                                                                                                                                                                  |
| 4.5[7]                       |  -- | Form                of Warrant issued to each seller of shares of ICTS,                Inc.                                                                                                                                                           |
|                              |     |                                                                                                                                                                                                                                                  |
| 4.6[14]                      |  -- | Common                Stock Purchase Warrant issued in September 2003, to purchase 45,000                shares                of the Registrant’s common stock.                                                                                |
|                              |     |                                                                                                                                                                                                                                                  |
| 4.7[17]                      |  -- | Common                Stock Purchase Warrant issued to placement agent on March 29,                2004.                                                                                                                                              |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.1[28]                     |  -- | Amended                and Restated Employment Agreement between the Registrant and Dr.                Arol I.                Buntzman, dated August 12, 2005.                                                                                        |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.2[28]                          |  -- | Amended                and Restated Employment Agreement between the Registrant and Dr.                John J.                McGrath, dated August 12, 2005.                                                                                         |
|                              |          |                                                                                                                                                                                                                                                  |
| 10.3                (a)[9]   |  -- | Employment                Agreement between the Registrant and Richard Goldenberg, dated January                1,                2003.                                                                                                               |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.3                (b)[23]  |  -- | Letter                agreement, dated June 30, 2005, amending Employment Agreement between                the                Registrant and Richard Goldenberg dated January 1,                2003.                                                 |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.4[10]                     |  -- | Amended                and Restated 1998 Incentive Stock Option Plan of the                Registrant.                                                                                                                                                |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.5[11]                     |  -- | 2001                Non-Qualified Stock Option Plan.                                                                                                                                                                                                  |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.6[9]                      |  -- | Form                of Change in Control Agreement used for agreements the Registrant                has with                each of Dr. Arol I. Buntzman, Dr. John J. McGrath, and Richard Goldenberg,                dated February 11, 2003.       |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.7[1]                      |  -- | Form                of Indemnification Agreement. [Used for each director and executive                officer of the Registrant.]                                                                                                                    |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.8[4]                      |  -- | Stock                Purchase Agreement, dated January 14, 2000, among Bruce R. Kalisch,                Interboro Holding, Inc. and Interboro Institute, Inc.                                                                                         |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.9[12]                     |  -- | Lease                Agreement between 444 Realty Company and Interboro Institute, Inc.                dated                July 27, 1983, as amended by agreements dated September 20, 1988,                September 1, 1992, and February 1, 1993. |
|                              |     |                                                                                                                                                                                                                                                  |
| 10.10[12]                    |  -- | Lease                Agreement between Interboro Institute, Inc. and JUYI, Inc., dated                January                26, 2001.                                                                                                                |

----

|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
|------------------------------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.11[8]                |  -- | Promissory                Note for $1,000,000, dated August 4, 2003, payable by Interboro Institute,                Inc. to North Fork Bank.                                                                                                                                                                                                                       |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.12[8]                |  -- | Form                of the Registrant’s Subscription and Registration Rights Agreement                relating to the Registrant’s August 1, 2003 issuance of common stock and                warrants.                                                                                                                                                |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.13[13]               |  -- | Settlement                Agreement, made October 3, 2003, between Amaranth Trading L.L.C.                and the                Registrant.                                                                                                                                                                                                                       |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.14[13]               |  -- | Form                of Share Claim Purchase and Registration Rights Agreement between                the                Registrant and each investor acquiring a portion of the Amaranth                Trading                L.L.C.’s rights to claims to shares of EVCI’s common stock upon conversion                of Series B Preferred shares. |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.15[14]               |  -- | Third                Amendment and Lease Extension Agreement, made as of August 1, 2003,                between 444 Realty Company, L.L.C. and Interboro Institute,                Inc.                                                                                                                                                                            |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.16[15]               |  -- | Ownership                and Registration Rights Agreement, dated November 11, 2003, between                the                Registrant and JLF Partners I, L.P., JLF Partners II, L.P. and JLF                Offshore Fund.                                                                                                                                    |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
|  10.17(a)[16]           |  -- | Employment                Agreement between the Registrant and Joseph D. Alperin dated January                1,                2004.                                                                                                                                                                                                                              |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.17                (b)[23] |  -- | Letter                agreement, dated June 30, 2005, amending Employment Agreement between                the                Registrant and Joseph D. Alperin dated January 1, 2004.                                                                                                                                                                              |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.18[16]               |  -- | Option                Agreement between the Registrant and Joseph D. Alperin dated January                1,                2004.                                                                                                                                                                                                                                  |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.19[16]               |  -- | Change                of control letter agreement between the Registrant and Joseph D.                Alperin                dated January 1, 2004.                                                                                                                                                                                                                |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.20[16]               |  -- | Agreement,                made February 28, 2004, between Interboro Institute, Inc. and OPEIU                Local                153, AFL-CIO.                                                                                                                                                                                                                    |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.21[17]               |  -- | Securities                Purchase Agreement, dated March 29, 2004, by and among the Registrant                and                each buyer named in the Schedule of Buyers.                                                                                                                                                                                      |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.22[17]               |  -- | Registration                Rights Agreement, dated March 29, 2004, by and among the Registrant                and                each buyer named in the Schedule of Buyers.                                                                                                                                                                                      |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.23[18]               |  -- | Ownership                and Registration Rights Agreement, dated April 2, 2004, by and among                the                Registrant and six funds managed by Wellington Management Company,                LLP.                                                                                                                                             |
|                         |     |                                                                                                                                                                                                                                                                                                                                                               |
| 10.24[19]               |  -- | 2004                Amended and Restated Incentive Stock                Plan                                                                                                                                                                                                                                                                                       |

----

|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|------------------------------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.25[20]               |  -- | Form                of Stock Option Agreement (Nonqualified Stock Option)                                                                                                                                                                                                                                                                                                                                                                                    |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.26[20]               |  -- | Form                of Stock Option Agreement (Nonqualified Stock Option) covering option                grants to executive officers that were approved at the Registrant’s July                27, 2004 stockholders meeting.                                                                                                                                                                                                                        |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.27[21]               |  -- | Lease                made November 17, 2003 between Spruce Spires Associates, LP, and                Interboro                Institute, Inc.                                                                                                                                                                                                                                                                                                                |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.28                (a)[22] |  -- | Sublease                for Premises at 37-02 Main Street, Flushing, NY 11354, dated March                28,                2005, between Genking, LLC and Interboro Institute, Inc. withExhibit                A and letter agreement, dated April 15, 2005, amending such sublease.                                                                                                                                                                       |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.28                (b)[22] |  -- | Consent                to Sublease, dated April 22, 2005, among Mehran Enterprises Ltd.,                Futurama                Home Furniture of Queens, Inc., Genking, LLC and Interboro Institute,                Inc.                                                                                                                                                                                                                                    |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.28                (c)[22] |  -- | Sublease,                dated March 30, 2004, between Futurama Home Furniture of Queens,                Inc. and                Genking, LLC.                                                                                                                                                                                                                                                                                                               |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.28                (d)[22] |  -- | Agreement                of Lease, dated March 6, 2001, between Mehran Enterprise Ltd. and                Futurama                Home Furniture of Queens, Inc.                                                                                                                                                                                                                                                                                             |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.29                [24]    |  -- | Stock                Purchase Agreement, dated June 30, 2005, among EVCI Career Colleges                Holding Corp., Technical Career Institutes, Inc., East Coast Training                Services of Delaware, Inc., East Coast Capital Corp. and North American                Training Services, Inc., with Exhibits (Schedules will be provided                supplementally to the Securities and Exchange Commission upon                request). |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.30(a)[25]                 |  -- | Loft                Lease dated as of September 1, 2004 between Getty Square Partners                LLC and                Interboro Institute, Inc.                                                                                                                                                                                                                                                                                                        |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.30(b)[25]                 |  -- | Letter                agreement dated August 18, 2004 between Getty Square Partners LLC                and                Interboro Institute, Inc.                                                                                                                                                                                                                                                                                                          |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.30(c)[25]                 |  -- | First                Amendment to Lease dated as of July 14, 2005 between Getty Square                Partners                LLC and Interboro Institute, Inc.                                                                                                                                                                                                                                                                                              |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.31[28]                    |  -- | 2004                Amended and Restated Incentive Stock Plan Restricted Stock Award                Agreement,                dated August 12, 2005, between the Registrant and Dr. Arol I.                Buntzman.                                                                                                                                                                                                                                         |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.32[28]                    |  -- | 2004                Amended and Restated Incentive Stock Plan Restricted Stock Award                Agreement, dated August 12, 2005, between the Registrant and Dr.                John J.                McGrath.                                                                                                                                                                                                                                          |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.33                (a)[26] |  -- | Credit                Agreement, dated as of September 16, 2005, among the Registrant,                the                Guarantors from time-to-time parties thereto, the lenders from                time-to-time parties thereto and Harris                N.A.                                                                                                                                                                                           |

----

|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
|------------------------------------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.33                (b) [28]      |  -- | First                Amendment to Credit Agreement , dated as of November 10, 2005, between                the                Registrant and Harris, N.A.                                                                                                                                                                                                                                     |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.34                [26]          |  -- | Security                Agreement, dated as of September 16, 2005, among EVCI and other Debtors                and Harris N.A.                                                                                                                                                                                                                                                                |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.35                [26]     |  -- | Trademark                Collateral Agreement, dated September 16, 2005, between Technical                Career                Institutes, Inc. and Harris N.A.                                                                                                                                                                                                                              |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.36                [27]     |  -- | Employment                Agreement, dated as of September 29, 2005, between EVCI and Joseph                J.                Looney.                                                                                                                                                                                                                                                         |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.37                [27]     |  -- | Change                of control letter agreement, dated September 29, 2005, between EVCI                and                Joseph J. Looney.                                                                                                                                                                                                                                            |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.38                [28]     |  -- | Lease                Agreement between Brill & Sharma Equities and Pennsylvania School of                Business for a term commencing June 1, 2005.                                                                                                                                                                                                                                     |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.39                (a)[28]       |  -- | Net                Lease, dated as of December 19, 1997, between Overtime Properties                LLC and                Technical Career Institutes, Inc.                                                                                                                                                                                                                                  |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.39                (b)[28]  |  -- | First                Amendment of Lease dated as of October 1, 2002 between Overtime                Properties, LLC and Technical Career Institutes, Inc.                                                                                                                                                                                                                                     |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.40                (a)[28]       |  -- | Lease,                dated October 11, 1994, between F.H.E.A. Associates and Technical                Career                Institutes, Inc.                                                                                                                                                                                                                                                 |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.40                (b)[28]       |  -- | First                Amendment of Lease, dated January 20, 1995, between F.H.E.A. Associates                and Technical Career Institutes, Inc.                                                                                                                                                                                                                                             |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
|  10.40                (c)[28] |  -- | Second                Modification and Extension of Lease Agreement, dated April 15, 2005,                between Eighth Avenue Limited Liability Company and Technical Career                Institutes, Inc.                                                                                                                                                                                |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.41                (a)[28]  |  -- | Collective                Bargaining Agreement between Technical Career Institutes, Inc. and                T.O.P.                Local 2110 UAW, AFL-CIO, effective October 10, 1992- October 9, 1995,                and                covering office clerical employees.                                                                                                                 |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.41                (b)[28]       |  -- | Memorandum                of Agreement, dated October 10, 1995, between T.O.P. Local 2110                UAW-AFL-CIO and Technical Career Institutes, Inc., amending collective                bargaining agreement between the parties covering office and clerical                employees, which was effective October 10, 1992- October 9,                1995.                          |
|                               |     |                                                                                                                                                                                                                                                                                                                                                                                          |
| 10.41                (c)[28]       |  -- | Memorandum                of Agreement, dated October ____, 1998, between T.O.P. Local 2110                UAW-AFL-CIO and Technical Career Institutes, Inc., amending collective                bargaining agreement between the parties covering office clerical                employees, which was effective from October 10, 1995 through October                9,                1998. |

----

|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|------------------------------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.41                (d)[28] |  -- | Collective                Bargaining Agreement between Technical Career Institutes, Inc. and                T.O.P.                Local 2110 UAW-AFL-CIO effective October 10, 1998-October 9, 2001,                covering instructors, laboratory technicians and maintenance persons                (This                agreement amends and restates the prior collective bargaining agreements                with the instructors, laboratory technicians and maintenance                employees.)                                                                |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.41                (e)[28] |  -- | Memorandum                of Agreement, dated October 10, 2001, between T.O.P. Local 2110                UAW-AFL-CIO and Technical Career Institutes, Inc., amending (A) collective                bargaining agreement between the parties covering instructors, laboratory                technicians and maintenance employees and (B) collective bargaining                agreement between the parties covering office clerical employees,                each                such prior agreement effective October 10, 1998 through October 9,                2001. |
|                         |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| 10.41                (f)[28] |  -- | Memorandum                of Agreement, dated October 10, 2004, between T.O.P. Local 2110                UAW-AFL-CIO and Technical Career Institutes, Inc., amending (A) collective                bargaining agreement between the parties covering instructors, laboratory                technicians and maintenance employees and (B) collective bargaining                agreement between the parties covering office clerical employees,                each                such agreement effective October 10, 2001 through October 9,                2004.       |

|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------------------------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.42                [29] |  -- | Letter                agreement, dated March 1, 2006, between the Registrant and Dr. John                J.                McGrath.                                                                                                                                                                                                                                                                                                                             |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.43                [29] |  -- | Form                of Restricted Stock Award Agreement for the restricted stock awards                to                participant's in the March 2006 salary reduction plan, including                Dr. John                J. McGrath, Dr. Arol I. Buntzman and Joseph J. Looney, without Annexes                A                and B.                                                                                                                  |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.44                [29] |  -- | Employment                Agreement, dated March 1, 2006, between the Registrant and Joseph                D.                Alperin.                                                                                                                                                                                                                                                                                                                           |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.45                [29] |  -- | Restricted                Stock Award Agreement, dated March 1, 2006, between the Registrant                and                Joseph D. Alperin, without Annex A.                                                                                                                                                                                                                                                                                              |
|                           |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.46[34]                 |  -- | Amended                and Restated Credit Agreement dated as of September 16, 2005, amended                and                restated as of March 31, 2006, among EVCI Career Colleges Holding Corp.,                the Guarantors from time to time parties hereto, and Harris N.A.                as                lender. “Schedules will be provided supplementally to the Securities and                Exchange Commission upon request.” |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.47**                   |  -- | First                Amendment, made April 30, 2006, to Amended and Restated Credit Agreement                dated as of September 16, 2005 and amended and restated as of April                30,                2006.                                                                                                                                                                                                                                        |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
|--------------------------------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1**                         |  -- | Certification                of Chief Executive Officer required by Rule 13a-14(a) under the Exchange                Act.                                                                                                                                                                                                                                        |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 31.2**                    |  -- | Certification                of Chief Financial Officer required by Rule 13a-14(a) under the Exchange                Act.                                                                                                                                                                                                                                        |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 32.1**                    |  -- | Certification                of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 906 of Sarbanes-Oxley Act of 2002.                                                                                                                                                                      |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 32.2**                    |  -- | Certification                of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 906 of Sarbanes-Oxley Act of 2002.                                                                                                                                                                      |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.1[21]                  |  -- | Text                of final report, dated March 7, 2005, detailing the calculation of                the TAP                disallowances resulting from the TAP audit of the 2000-01 through                2002-03                academic years of Interboro Institute, Inc.                                                                                 |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.2                [24]  |  -- | Press                Release dated June 30, 2005 related to the announcement of Exhibit                10.29(a) of this report.                                                                                                                                                                                                                                  |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.3                [27]       |  -- | Press                release dated October 3, 2005 and captioned “EVCI Career Colleges Hires                Joseph J. Looney to serve as Chief Financial Officer.”                                                                                                                                                                                   |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.4                [28]  |  -- | Press                Release dated October 19, 2005 and captioned “EVCI Career Colleges                Receives Draft Report of Compliance Review of Interboro                Institute.”                                                                                                                                                            |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.5[30]                       |  -- | Unaudited                financial statements of Technical Career Institutes, Inc. as of June                30,                2005 and for the nine months ended June 30, 2005 and 2004, and the                notes                related thereto.                                                                                                          |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.6[30                        |  -- | Audited                financial statements of Technical Career Institutes, Inc. as of September                30, 2004 and 2003 and for each of the years in the three-year period                ended                September 30, 2004 and the notes related thereto.                                                                                       |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.7                [30]       |  -- | Unaudited                pro forma financial information for the year ended December 31, 2004                and                the nine months ended September 30, 2005 and the notes related thereto.                                                                                                                                                          |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.8                [31]       |  -- | Press                release dated December 5, 2005 and captioned “EVCI Career Colleges                Receives Final Report of Compliance Review of Interboro                Institute.”                                                                                                                                                            |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.9                [31]       |  -- | Draft                Report of Compliance Review of Interboro Institute dated October                7,                2005.                                                                                                                                                                                                                                     |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.10[31]                      |  -- | Response                of Interboro Institute Inc., dated November 3, 2005, to two draft                reports                from the State Education Department of New York.                                                                                                                                                                                 |
|                           |     |                                                                                                                                                                                                                                                                                                                                                             |
| 99.11                [31]      |  -- | Letter                dated November 23, 2005 from Stephen H. Adolphus, President of Interboro                Institute, to Joseph P. Frey, Assistant Commissioner- Office of Quality                Assurance, New York State Education Department outlining Interboro                Institute’s revised admissions screening                procedures. |

----

|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------------------------|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 99.12                [31] |  -- | Letter                dated November 21, 2005 from Steven M. Gombos of Ritzert &                Leyton to Joseph P. Frey, Assistant Commissioner, The State Education                Department outlining the results of the independent investigation                for the                Audit Committee of the Board of Directors of EVCI Career Colleges                Holding                Corp. |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.13                [31] |  -- | Letter                dated December 2, 2005 from Joseph P. Frey, Assistant Commissioner-                Office                of Quality Assurance, the State Education Department of New York                including                attachment titled “State Education Department Analysis of Interboro                Institute’s Response to the Draft Report.”                             |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.14                [32] |  -- | Press                release dated January 13, 2006 and captioned “EVCI Career Colleges Reports                New Student Caps for Interboro’s Spring 2006 Through Spring 2007                Semesters.”                                                                                                                                                                                        |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.15                [32] |  -- | Letter                dated December 19, 2005 with enclosures from the registrant to Joseph                P.                Frey, Assistant Commissioner.                                                                                                                                                                                                                                                          |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.16                [32] |  -- | Letter                dated December 23, 2005 from Johanna Duncan-Poitier, Deputy Commissioner,                to the registrant.                                                                                                                                                                                                                                                                                   |
|                           |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.17                [32] |  -- | Letter                dated January 4, 2006 with enclosure from the registrant to Johanna                Duncan-Poitier, Deputy Commissioner.                                                                                                                                                                                                                                                                       |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.18                [32] |  -- | Letter                dated January 11, 2006 from Johanna Duncan-Poitier, Deputy Commissioner,                to the registrant.                                                                                                                                                                                                                                                                                    |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.19                [33] |  -- | Response                of Interboro Institute to the December 2, 2005 Report from the New                York                State Education Department.                                                                                                                                                                                                                                                           |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.20                [33] |  -- | Letter                dated February 2, 2006 from the New York State Education Department                to                EVCI.                                                                                                                                                                                                                                                                                    |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.21[34]                 |  -- | Interboro                Institute’s Comprehensive Institutional Effectiveness Plan with                transmittal letter from the registrant dated February 22, 2006.                                                                                                                                                                                                                                       |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.22[34]                 |  -- | Letter                dated March 13, 2006 from the New York State Education Department                to the                Registrant.                                                                                                                                                                                                                                                                            |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.23[34]                 |  -- | Letter                dated March 14, 2006 from the New York State Education Department                to the                Registrant.                                                                                                                                                                                                                                                                            |
|                      |     |                                                                                                                                                                                                                                                                                                                                                                                                                |
| 99.24[34]                 |  -- | Interboro                Institute’s Mid-Point Self Study dated March 28, 2006 (without attachments                with transmittal letter from the Registrant dated March 30,                2006.)                                                                                                                                                                                                          |

| *  | Numbers                inside brackets indicate documents from which exhibits have been                incorporated by reference. |
|----|-----------------------------------------------------------------------------------------------------------------------------------|
| ** | Filed                herewith.                                                                                                    |

----

| [1]  | Incorporated                by reference to the Registrant’s Registration Statement on Form SB-2,                filed October 23, 1998, Registration No. 333-66085.                                   |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| [2]  | Incorporated                by reference to Amendment No. 4, dated February 10, 1999, to the                Registrant’s Form SB-2, Registration No. 333-66085.                                        |
| [3]  | Incorporated                by reference to Registrant’s Form 10-QSB for the quarter ended September                30, 1999.                                                                          |
| [4]  | Incorporated                by reference to the Registrant’s Form 8-K dated January 14,                2000.                                                                                           |
| [5]  | Incorporated                by reference to the Registrant’s Form 8-K dated October 6,                2000.                                                                                            |
| [6]  | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2000.                                                                      |
| [7]  | Incorporated                by reference to the Registrant’s Form 8-K dated July 1,                2001.                                                                                               |
| [8]  | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2003.                                                                      |
| [9]  | Incorporated                by reference to the Registrant’s Form 10-KSB for the year ended December                31, 2002.                                                                          |
| [10] | Incorporated                by reference to the Registrant’s Registration Statement on Form S-8 filed                December 31, 2002, Registration No. 333-102310.                                   |
| [11] | Incorporated                by reference to the Registrant’s Registration Statement on Form S-8 filed                October 23, 2001, Registration No. 333-72080.                                     |
| [12] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2003.                                                                      |
| [13] | Incorporated                by reference to the Registrant’s Form 8-K dated October 10,                2003.                                                                                           |
| [14] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2003.                                                                      |
| [15] | Incorporated                by reference to Amendment No. 1 to the Registrant’s Registration Statement                on Form S-3, filed December 4, 2003, Registration No.                333-110567. |
| [16] | Incorporated                by reference to the Registrant’s Form 10-KSB/A for the year ended December                31, 2003.                                                                        |
| [17] | Incorporated                by reference to the Registrant’s Form 8-K dated March 29,                2004.                                                                                             |
| [18] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended June                30, 2004.                                                                           |
| [19] | Incorporated                by reference to the Registrant’s definitive Proxy Statement dated May 2,                2005.                                                                              |
| [20] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2004.                                                                      |
| [21] | Incorporated                by reference to the Registrant’s Form 10-KSB for the year ended December                31, 2004.                                                                          |
| [22] | Incorporated                by reference to the Registrant’s Form 8-K dated March 7, 2005.                                                                                                             |
| [23] | Incorporated                by reference to the Registrant’s Form 10-Q for the quarter ended March 31,                2005.                                                                            |
| [24] | Incorporated                by reference to the Registrant’s Form 8-K dated July 1, 2005.                                                                                                              |
| [25] | Incorporated                by reference to the Registrant’s Form 8-K dated July 18, 2005.                                                                                                             |
| [26] | Incorporated                by reference to the Registrant’s Form 8-K dated September 16,                2005.                                                                                         |
| [27] | Incorporated                by reference to the Registrant’s Form 8-K dated September 29,                2005.                                                                                         |
| [28] | Incorporated                by reference to the Registrant’s Form 10-Q for the quarter ended September                30, 2005.                                                                        |
| [29] | Incorporated                by reference to the Registrant’s Form 8-K dated March 1,                2006.                                                                                              |
| [30] | Incorporated                by reference to the Registrant’s Form 8-K/A dated September 16,                2005.                                                                                       |
| [31] | Incorporated                by reference to the Registrant’s Form 8-K dated December 5,                2005.                                                                                           |
| [32] | Incorporated                by reference to the Registrant’s Form 8-K dated January 12,                2006.                                                                                           |
| [33] | Incorporated                by reference to the Registrant’s Form 8-K dated February 3,                2006.                                                                                           |
| [34] | Incorporated                by reference to the Registrant’s Form 10-K filed March 31,                2006                                                                                             |

----

**SIGNATURES**

|         |                                                |                                                                                                                                                   |
|--------------|-----------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|         | EVCI                  CAREER COLLEGES HOLDING CORP. |
|    |                                           |                                                                                                                                              |
|         | By:                                       | /s/ Dr.                John                J. McGrath                                                                                             |
|         |                                                | Dr.                    John J. McGrath Chief                      Executive Officer and President (Principal                        Executive Officer) |
|         |                                                |                                                                                                                                                   |
|         |                                                |                                                                                                                                                   |
|         | By:                                                 | /s/ Joseph Looney                                                                                                                                      |
|         |                                                | Joseph                    Looney Chief                      Financial Officer (Principal                        Financial and Accounting Officer)      |
|         |                                                     |
|         |                                                |

----

**EXHIBIT      INDEX**

| Exhibit                  No.* |     | Description                  of Exhibit                                                                                                                                                    |
|-------------------------------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                          |     |                                                                                                                                                                                       |
| 3.1[1]                   |  -- | Certificate                  of Incorporation of the Registrant.                                                                                                                           |
|                          |     |                                                                                                                                                                                       |
| 3.2[1]                   |  -- | Certificate                  of Merger of Educational Video Conferencing, Inc. (a New York Corporation)                  into the Registrant (a Delaware Corporation).                     |
|                          |     |                                                                                                                                                                                       |
| 3.3[1]                   |  -- | Certificate                  of Correction of the Certificate of Incorporation of the                  Registrant.                                                                         |
|                          |     |                                                                                                                                                                                       |
| 3.4[3]         |  -- | Certificate                  of Amendment, dated February 22, 1999, to Certificate of Incorporation                  of                  the Registrant.                                   |
|                          |     |                                                                                                                                                                                       |
| 3.5[23]                  |  -- | Amended                  and Restated By-Laws of the Registrant.                                                                                                                           |
|                          |     |                                                                                                                                                                                       |
| 3.6[5]                   |  -- | Certificate                  Eliminating Reference to Series A 7.5% Convertible Preferred Stock                  from                  the Certificate of Incorporation of the Registrant. |
|                          |     |                                                                                                                                                                                       |
| 3.7[16]                  |  -- | Certificate                  of Amendment, dated May 23, 2002, to Certificate of Incorporation                  of the                  Registrant.                                        |
|                          |     |                                                                                                                                                                                       |
| 3.8[5]                   |  -- | Certificate                  Eliminating Reference to Series B 7% Convertible Preferred Stock                  from the                  Certificate of Incorporation of the Registrant.   |
|                          |     |                                                                                                                                                                                       |
| 3.9[5]                   |  -- | Certificate                  Eliminating Reference to Series C 8% Convertible Preferred Stock                  from the                  Certificate of Incorporation of the Registrant.   |
|                          |     |                                                                                                                                                                                       |
| 3.10[20]                 |  -- | Certificate                  of Amendment, filed August 9, 2004, to Certificate of Incorporation                  of the                  Registrant.                                      |
|                          |     |                                                                                                                                                                                       |
| 4.2[2]                   |  -- | Form                  of Common Stock certificate.                                                                                                                                         |
|                          |     |                                                                                                                                                                                       |
| 4.3[4]                   |  -- | Warrant                  Agreement, dated January 14, 2000, between the Registrant and Bruce.                  R.                  Kalisch.                                                |
|                          |     |                                                                                                                                                                                       |
| 4.4[6]                   |  -- | Warrant                  Agreement, dated April 18, 2000, between the Registrant and Peter                  J.                  Solomon Company Limited.                                   |
|                          |     |                                                                                                                                                                                       |
| 4.5[7]                   |  -- | Form                  of Warrant issued to each seller of shares of ICTS,                  Inc.                                                                                            |
|                          |     |                                                                                                                                                                                       |
| 4.6[14]                  |  -- | Common                  Stock Purchase Warrant issued in September 2003, to purchase 45,000                  shares                  of the Registrant’s common stock.               |
|                          |     |                                                                                                                                                                                       |
| 4.7[17]                  |  -- | Common                  Stock Purchase Warrant issued to placement agent on March 29,                  2004.                                                                               |

----

|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
|-------------------------------------|----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1[28]                       |  -- | Amended                  and Restated Employment Agreement between the Registrant and Dr.                  Arol I.                  Buntzman, dated August 12, 2005.                                                                                                                                                                                                           |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.2[28]                            |  -- | Amended                  and Restated Employment Agreement between the Registrant and Dr.                  John J.                  McGrath, dated August 12, 2005.                                                                                                                                                                                                            |
|                                |          |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.3                  (a)[9]   |  -- | Employment                  Agreement between the Registrant and Richard Goldenberg, dated                  January 1,                  2003.                                                                                                                                                                                                                                  |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.3                  (b)[23]  |  -- | Letter                  agreement, dated June 30, 2005, amending Employment Agreement between                  the                  Registrant and Richard Goldenberg dated January 1,                  2003.                                                                                                                                                                  |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.4[10]                       |  -- | Amended                  and Restated 1998 Incentive Stock Option Plan of the                  Registrant.                                                                                                                                                                                                                                                                     |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.5[11]                       |  -- | 2001                  Non-Qualified Stock Option Plan.                                                                                                                                                                                                                                                                                                                         |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.6[9]                        |  -- | Form                  of Change in Control Agreement used for agreements the Registrant                  has with                  each of Dr. Arol I. Buntzman, Dr. John J. McGrath, and Richard                  Goldenberg,                  dated February 11, 2003.                                                                                                       |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.7[1]                        |  -- | Form                  of Indemnification Agreement. [Used for each director and executive                  officer of the Registrant.]                                                                                                                                                                                                                                         |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.8[4]                        |  -- | Stock                  Purchase Agreement, dated January 14, 2000, among Bruce R. Kalisch,                  Interboro Holding, Inc. and Interboro Institute, Inc.                                                                                                                                                                                                              |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.9[12]                       |  -- | Lease                  Agreement between 444 Realty Company and Interboro Institute, Inc.                  dated                  July 27, 1983, as amended by agreements dated September 20, 1988,                  September 1, 1992, and February 1, 1993.                                                                                                                  |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.10[12]                      |  -- | Lease                  Agreement between Interboro Institute, Inc. and JUYI, Inc., dated                  January                  26, 2001.                                                                                                                                                                                                                                   |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.11[8]                       |  -- | Promissory                  Note for $1,000,000, dated August 4, 2003, payable by Interboro                  Institute,                  Inc. to North Fork Bank.                                                                                                                                                                                                              |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.12[8]                       |  -- | Form                  of the Registrant’s Subscription and Registration Rights Agreement                  relating to the Registrant’s August 1, 2003 issuance of common stock and                  warrants.                                                                                                                                                      |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.13[13]                      |  -- | Settlement                  Agreement, made October 3, 2003, between Amaranth Trading L.L.C.                  and the                  Registrant.                                                                                                                                                                                                                             |
|                                |     |                                                                                                                                                                                                                                                                                                                                                                           |
| 10.14[13]                      |  -- | Form                  of Share Claim Purchase and Registration Rights Agreement between                  the                  Registrant and each investor acquiring a portion of the Amaranth                  Trading                  L.L.C.’s rights to claims to shares of EVCI’s common stock upon conversion                  of Series B Preferred shares. |

----

|                           |     |                                                                                                                                                                                                                                                                                           |
|--------------------------------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.15[14]                 |  -- | Third                  Amendment and Lease Extension Agreement, made as of August 1, 2003,                  between 444 Realty Company, L.L.C. and Interboro Institute,                  Inc.                                                                                                  |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.16[15]                 |  -- | Ownership                  and Registration Rights Agreement, dated November 11, 2003, between                  the                  Registrant and JLF Partners I, L.P., JLF Partners II, L.P. and                  JLF                  Offshore Fund.                                       |
|                           |     |                                                                                                                                                                                                                                                                                           |
|  10.17(a)[16]             |  -- | Employment                  Agreement between the Registrant and Joseph D. Alperin dated January                  1,                  2004.                                                                                                                                                    |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.17                  (b)[23] |  -- | Letter                  agreement, dated June 30, 2005, amending Employment Agreement between                  the                  Registrant and Joseph D. Alperin dated January 1, 2004.                                                                                                    |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.18[16]                      |  -- | Option                  Agreement between the Registrant and Joseph D. Alperin dated January                  1,                  2004.                                                                                                                                                        |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.19[16]                      |  -- | Change                  of control letter agreement between the Registrant and Joseph D.                  Alperin                  dated January 1, 2004.                                                                                                                                      |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.20[16]                      |  -- | Agreement,                  made February 28, 2004, between Interboro Institute, Inc. and OPEIU                  Local                  153, AFL-CIO.                                                                                                                                          |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.21[17]                      |  -- | Securities                  Purchase Agreement, dated March 29, 2004, by and among the Registrant                  and                  each buyer named in the Schedule of Buyers.                                                                                                            |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.22[17]                      |  -- | Registration                  Rights Agreement, dated March 29, 2004, by and among the Registrant                  and                  each buyer named in the Schedule of Buyers.                                                                                                            |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.23[18]                 |  -- | Ownership                  and Registration Rights Agreement, dated April 2, 2004, by and                  among the                  Registrant and six funds managed by Wellington Management Company,                  LLP.                                                                 |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.24[19]                 |  -- | 2004                  Amended and Restated Incentive Stock Plan                                                                                                                                                                                                                                |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.25[20]                 |  -- | Form                  of Stock Option Agreement (Nonqualified Stock Option)                                                                                                                                                                                                                    |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.26[20]                 |  -- | Form                  of Stock Option Agreement (Nonqualified Stock Option) covering                  option                  grants to executive officers that were approved at the Registrant’s July                  27, 2004 stockholders meeting.                                   |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.27[21]                 |  -- | Lease                  made November 17, 2003 between Spruce Spires Associates, LP, and                  Interboro                  Institute, Inc.                                                                                                                                            |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.28                  (a)[22] |  -- | Sublease                  for Premises at 37-02 Main Street, Flushing, NY 11354, dated March                  28,                  2005, between Genking, LLC and Interboro Institute, Inc. withExhibit                  A and letter agreement, dated April 15, 2005, amending such sublease. |
|                           |     |                                                                                                                                                                                                                                                                                           |
| 10.28                  (b)[22] |  -- | Consent                  to Sublease, dated April 22, 2005, among Mehran Enterprises Ltd.,                  Futurama                  Home Furniture of Queens, Inc., Genking, LLC and Interboro Institute,                  Inc.                                                              |

----

|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----------------------------------|----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.28                  (c)[22]    |  -- | Sublease,                  dated March 30, 2004, between Futurama Home Furniture of Queens,                  Inc. and                  Genking, LLC.                                                                                                                                                                                                                                                                                                                                      |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.28                  (d)[22]    |  -- | Agreement                  of Lease, dated March 6, 2001, between Mehran Enterprise Ltd. and                  Futurama                  Home Furniture of Queens, Inc.                                                                                                                                                                                                                                                                                                                    |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.29                  [24]  |  -- | Stock                  Purchase Agreement, dated June 30, 2005, among EVCI Career Colleges                  Holding Corp., Technical Career Institutes, Inc., East Coast Training                  Services of Delaware, Inc., East Coast Capital Corp. and North                  American                  Training Services, Inc., with Exhibits (Schedules will be provided                  supplementally to the Securities and Exchange Commission upon                  request). |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.30(a)[25]                      |  -- | Loft                  Lease dated as of September 1, 2004 between Getty Square Partners                  LLC and                  Interboro Institute, Inc.                                                                                                                                                                                                                                                                                                                               |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.30(b)[25]                      |  -- | Letter                  agreement dated August 18, 2004 between Getty Square Partners LLC                  and                  Interboro Institute, Inc.                                                                                                                                                                                                                                                                                                                                 |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.30(c)[25]                      |  -- | First                  Amendment to Lease dated as of July 14, 2005 between Getty Square                  Partners                  LLC and Interboro Institute, Inc.                                                                                                                                                                                                                                                                                                                     |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.31[28]                         |  -- | 2004                  Amended and Restated Incentive Stock Plan Restricted Stock Award                   Agreement,                  dated August 12, 2005, between the Registrant and Dr. Arol I.                  Buntzman.                                                                                                                                                                                                                                                        |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.32[28]                         |  -- | 2004                  Amended and Restated Incentive Stock Plan Restricted Stock Award                  Agreement, dated August 12, 2005, between the Registrant and Dr.                  John J.                  McGrath.                                                                                                                                                                                                                                                               |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.33                  (a)[26]    |  -- | Credit                  Agreement, dated as of September 16, 2005, among the Registrant,                  the                  Guarantors from time-to-time parties thereto, the lenders from                  time-to-time parties thereto and Harris N.A.                                                                                                                                                                                                                               |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.33                  (b) [28]   |  -- | First                  Amendment to Credit Agreement , dated as of November 10, 2005,                  between the                  Registrant and Harris, N.A.                                                                                                                                                                                                                                                                                                                           |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.34                  [26]       |  -- | Security                  Agreement, dated as of September 16, 2005, among EVCI and other                  Debtors                  and Harris N.A.                                                                                                                                                                                                                                                                                                                                       |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.35                  [26]  |  -- | Trademark                  Collateral Agreement, dated September 16, 2005, between Technical                  Career                  Institutes, Inc. and Harris N.A.                                                                                                                                                                                                                                                                                                                    |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.36                  [27]  |  -- | Employment                  Agreement, dated as of September 29, 2005, between EVCI and Joseph                  J.                  Looney.                                                                                                                                                                                                                                                                                                                                               |
|                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.37                  [27]  |  -- | Change                  of control letter agreement, dated September 29, 2005, between                  EVCI and                  Joseph J. Looney.                                                                                                                                                                                                                                                                                                                                  |

----

|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------------------------------------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.38                  [28]     |  -- | Lease                  Agreement between Brill & Sharma Equities and Pennsylvania School of                  Business for a term commencing June 1, 2005.                                                                                                                                                                                                                                                                                                                                                                |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.39                  (a)[28]       |  -- | Net                  Lease, dated as of December 19, 1997, between Overtime Properties                  LLC and                  Technical Career Institutes, Inc.                                                                                                                                                                                                                                                                                                                                                           |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.39                  (b)[28]  |  -- | First                  Amendment of Lease dated as of October 1, 2002 between Overtime                  Properties, LLC and Technical Career Institutes, Inc.                                                                                                                                                                                                                                                                                                                                                                |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.40                  (a)[28]       |  -- | Lease,                  dated October 11, 1994, between F.H.E.A. Associates and Technical                  Career                  Institutes, Inc.                                                                                                                                                                                                                                                                                                                                                                          |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.40                  (b)[28]       |  -- | First                  Amendment of Lease, dated January 20, 1995, between F.H.E.A. Associates                  and Technical Career Institutes, Inc.                                                                                                                                                                                                                                                                                                                                                                        |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|  10.40                  (c)[28] |  -- | Second                  Modification and Extension of Lease Agreement, dated April 15,                  2005,                  between Eighth Avenue Limited Liability Company and Technical Career                  Institutes, Inc.                                                                                                                                                                                                                                                                                        |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.41                  (a)[28]  |  -- | Collective                  Bargaining Agreement between Technical Career Institutes, Inc.                  and T.O.P.                  Local 2110 UAW, AFL-CIO, effective October 10, 1992- October 9,                  1995, and                  covering office clerical employees.                                                                                                                                                                                                                                      |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.41                  (b)[28]       |  -- | Memorandum                  of Agreement, dated October 10, 1995, between T.O.P. Local 2110                  UAW-AFL-CIO and Technical Career Institutes, Inc., amending collective                  bargaining agreement between the parties covering office and clerical                  employees, which was effective October 10, 1992- October 9,                  1995.                                                                                                                                               |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.41                  (c)[28]       |  -- | Memorandum                  of Agreement, dated October ____, 1998, between T.O.P. Local 2110                  UAW-AFL-CIO and Technical Career Institutes, Inc., amending collective                  bargaining agreement between the parties covering office clerical                  employees, which was effective from October 10, 1995 through October                  9,                  1998.                                                                                                                    |
|                                 |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 10.41                  (d)[28]       |  -- | Collective                  Bargaining Agreement between Technical Career Institutes, Inc.                  and T.O.P.                  Local 2110 UAW-AFL-CIO effective October 10, 1998-October 9, 2001,                  covering instructors, laboratory technicians and maintenance persons                  (This                  agreement amends and restates the prior collective bargaining agreements                  with the instructors, laboratory technicians and maintenance                  employees.) |

----

|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|----------------------------------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.41                  (e)[28]   |  -- | Memorandum                  of Agreement, dated October 10, 2001, between T.O.P. Local 2110                  UAW-AFL-CIO and Technical Career Institutes, Inc., amending (A)                  collective                  bargaining agreement between the parties covering instructors,                  laboratory                  technicians and maintenance employees and (B) collective bargaining                  agreement between the parties covering office clerical employees,                  each                  such prior agreement effective October 10, 1998 through October                  9,                  2001. |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.41                  (f)[28]   |  -- | Memorandum                  of Agreement, dated October 10, 2004, between T.O.P. Local 2110                  UAW-AFL-CIO and Technical Career Institutes, Inc., amending (A)                  collective                  bargaining agreement between the parties covering instructors,                  laboratory                  technicians and maintenance employees and (B) collective bargaining                  agreement between the parties covering office clerical employees,                  each                  such agreement effective October 10, 2001 through October 9,                  2004.                        |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.42                  [29]      |  -- | Letter                  agreement, dated March 1, 2006, between the Registrant and Dr.                  John J.                  McGrath.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.43                  [29]      |  -- | Form                  of Restricted Stock Award Agreement for the restricted stock awards                  to                  participants in the March 2006 salary reduction plan, including                  Dr. John                  J. McGrath, Dr. Arol I. Buntzman and Joseph J. Looney, without                  Annexes A                  and B.                                                                                                                                                                                                                                                                                    |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.44                  [29]      |  -- | Employment                  Agreement, dated March 1, 2006, between the Registrant and Joseph                  D.                  Alperin.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.45                  [29]      |  -- | Restricted                  Stock Award Agreement, dated March 1, 2006, between the Registrant                  and                  Joseph D. Alperin, without Annex A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                  |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.46[34]                        |  -- | Amended                  and Restated Credit Agreement dated as of September 16, 2005, amended                  and                  restated as of March 31, 2006, among EVCI Career Colleges Holding                  Corp.,                  the Guarantors from time to time parties hereto, and Harris N.A.                  as                  lender. “Schedules will be provided supplementally to the Securities and                  Exchange Commission upon request.”                                                                                                                                                 |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.47**                          |  -- | First                  Amendment, made April 30, 2006, to Amended and Restated Credit                  Agreement                  dated as of September 16, 2005 and amended and restated as of April                  30,                  2006.                                                                                                                                                                                                                                                                                                                                                                                              |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 31.1**                           |  -- | Certification                  of Chief Executive Officer required by Rule 13a-14(a) under the                  Exchange                  Act.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 31.2**                      |  -- | Certification                  of Chief Financial Officer required by Rule 13a-14(a) under the                  Exchange                  Act.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 32.1**                      |  -- | Certification                  of Chief Executive Officer pursuant to 18 U.S.C. Section 1350,                  as adopted                  pursuant to Section 906 of Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 32.2**                      |  -- | Certification                  of Chief Financial Officer pursuant to 18 U.S.C. Section 1350,                  as adopted                  pursuant to Section 906 of Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 99.1[21]                    |  -- | Text                  of final report, dated March 7, 2005, detailing the calculation                  of the TAP                  disallowances resulting from the TAP audit of the 2000-01 through                  2002-03                  academic years of Interboro Institute, Inc.                                                                                                                                                                                                                                                                                                                                                     |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 99.2                  [24]  |  -- | Press                  Release dated June 30, 2005 related to the announcement of Exhibit                  10.29(a) of this report.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
|----------------------------------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 99.3                  [27]       |  -- | Press                  release dated October 3, 2005 and captioned “EVCI Career Colleges Hires                  Joseph J. Looney to serve as Chief Financial Officer.”                                                                                                                                                                                                                                                |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.4                  [28]  |  -- | Press                  Release dated October 19, 2005 and captioned “EVCI Career Colleges                  Receives Draft Report of Compliance Review of Interboro                  Institute.”                                                                                                                                                                                                                       |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.5[30]                         |  -- | Unaudited                  financial statements of Technical Career Institutes, Inc. as of                  June 30,                  2005 and for the nine months ended June 30, 2005 and 2004, and                  the notes                  related thereto.                                                                                                                                                                 |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.6[30                          |  -- | Audited                  financial statements of Technical Career Institutes, Inc. as of                  September                  30, 2004 and 2003 and for each of the years in the three-year period                  ended                  September 30, 2004 and the notes related thereto.                                                                                                                               |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.7                  [30]       |  -- | Unaudited                  pro forma financial information for the year ended December 31,                  2004 and                  the nine months ended September 30, 2005 and the notes related                  thereto.                                                                                                                                                                                                    |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.8                  [31]       |  -- | Press                  release dated December 5, 2005 and captioned “EVCI Career Colleges                  Receives Final Report of Compliance Review of Interboro                  Institute.”                                                                                                                                                                                                                       |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.9                  [31]       |  -- | Draft                  Report of Compliance Review of Interboro Institute dated October                  7,                  2005.                                                                                                                                                                                                                                                                                                |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.10[31]                        |  -- | Response                  of Interboro Institute Inc., dated November 3, 2005, to two draft                  reports                  from the State Education Department of New York.                                                                                                                                                                                                                                            |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.11                  [31]      |  -- | Letter                  dated November 23, 2005 from Stephen H. Adolphus, President of                  Interboro                  Institute, to Joseph P. Frey, Assistant Commissioner- Office of                  Quality                  Assurance, New York State Education Department outlining Interboro                  Institute’s revised admissions screening procedures.                                       |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.12                  [31]      |  -- | Letter                  dated November 21, 2005 from Steven M. Gombos of Ritzert &                  Leyton to Joseph P. Frey, Assistant Commissioner, The State Education                  Department outlining the results of the independent investigation                  for the                  Audit Committee of the Board of Directors of EVCI Career Colleges                  Holding                  Corp. |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.13                  [31]      |  -- | Letter                  dated December 2, 2005 from Joseph P. Frey, Assistant Commissioner-                  Office                  of Quality Assurance, the State Education Department of New York                  including                  attachment titled “State Education Department Analysis of Interboro                  Institute’s Response to the Draft Report.”                               |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.14                  [32]      |  -- | Press                  release dated January 13, 2006 and captioned “EVCI Career Colleges Reports                  New Student Caps for Interboro’s Spring 2006 Through Spring 2007                  Semesters.”                                                                                                                                                                                                |
|                             |     |                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 99.15                  [32]      |  -- | Letter                  dated December 19, 2005 with enclosures from the registrant to                  Joseph P.                  Frey, Assistant Commissioner.                                                                                                                                                                                                                                                                  |

----

|                        |     |                                                                                                                                                                                                             |
|-----------------------------|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 99.16                  [32] |  -- | Letter                  dated December 23, 2005 from Johanna Duncan-Poitier, Deputy Commissioner,                  to the registrant.                                                                            |
|                             |     |                                                                                                                                                                                                             |
| 99.17                  [32] |  -- | Letter                  dated January 4, 2006 with enclosure from the registrant to Johanna                  Duncan-Poitier, Deputy Commissioner.                                                                |
|                        |     |                                                                                                                                                                                                             |
| 99.18                  [32] |  -- | Letter                  dated January 11, 2006 from Johanna Duncan-Poitier, Deputy Commissioner,                  to the registrant.                                                                             |
|                        |     |                                                                                                                                                                                                             |
| 99.19                  [33] |  -- | Response                  of Interboro Institute to the December 2, 2005 Report from the                  New York                  State Education Department.                                                  |
|                        |     |                                                                                                                                                                                                             |
| 99.20                  [33] |  -- | Letter                  dated February 2, 2006 from the New York State Education Department                  to                  EVCI.                                                                           |
|                        |     |                                                                                                                                                                                                             |
| 99.21[34]                   |  -- | Interboro                  Institute’s Comprehensive Institutional Effectiveness Plan with                  transmittal letter from the registrant dated February 22, 2006.                                |
|                        |     |                                                                                                                                                                                                             |
| 99.22[34]                   |  -- | Letter                  dated March 13, 2006 from the New York State Education Department                  to the                  Registrant.                                                                   |
|                        |     |                                                                                                                                                                                                             |
| 99.23[34]                   |  -- | Letter                  dated March 14, 2006 from the New York State Education Department                  to the                  Registrant.                                                                   |
|                        |     |                                                                                                                                                                                                             |
| 99.24[34]                   |  -- | Interboro                  Institute’s Mid-Point Self Study dated March 28, 2006 (without attachments                  with transmittal letter from the Registrant dated March 30,                  2006.) |

| *  | Numbers                  inside brackets indicate documents from which exhibits have been                  incorporated by reference. |
|----|---------------------------------------------------------------------------------------------------------------------------------------|
| ** | Filed                  herewith.                                                                                                      |

| [1] | Incorporated                by reference to the Registrant’s Registration Statement on Form SB-2,                filed October 23, 1998, Registration No. 333-66085. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| [2] | Incorporated                by reference to Amendment No. 4, dated February 10, 1999, to the                Registrant’s Form SB-2, Registration No. 333-66085.      |
| [3] | Incorporated                by reference to Registrant’s Form 10-QSB for the quarter ended September                30, 1999.                                        |
| [4] | Incorporated                by reference to the Registrant’s Form 8-K dated January 14,                2000.                                                         |
| [5] | Incorporated                by reference to the Registrant’s Form 8-K dated October 6,                2000.                                                          |
| [6] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2000.                                    |
| [7] | Incorporated                by reference to the Registrant’s Form 8-K dated July 1,                2001.                                                             |
| [8] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2003.                                    |
| [9] | Incorporated                by reference to the Registrant’s Form 10-KSB for the year ended December                31, 2002.                                        |

----

| [10] | Incorporated                by reference to the Registrant’s Registration Statement on Form S-8 filed                December 31, 2002, Registration No. 333-102310.                                   |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| [11] | Incorporated                by reference to the Registrant’s Registration Statement on Form S-8 filed                October 23, 2001, Registration No. 333-72080.                                     |
| [12] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2003.                                                                      |
| [13] | Incorporated                by reference to the Registrant’s Form 8-K dated October 10,                2003.                                                                                           |
| [14] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2003.                                                                      |
| [15] | Incorporated                by reference to Amendment No. 1 to the Registrant’s Registration Statement                on Form S-3, filed December 4, 2003, Registration No.                333-110567. |
| [16] | Incorporated                by reference to the Registrant’s Form 10-KSB/A for the year ended December                31, 2003.                                                                        |
| [17] | Incorporated                by reference to the Registrant’s Form 8-K dated March 29,                2004.                                                                                             |
| [18] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended June                30, 2004.                                                                           |
| [19] | Incorporated                by reference to the Registrant’s definitive Proxy Statement dated May 2,                2005.                                                                              |
| [20] | Incorporated                by reference to the Registrant’s Form 10-QSB for the quarter ended                September 30, 2004.                                                                      |
| [21] | Incorporated                by reference to the Registrant’s Form 10-KSB for the year ended December                31, 2004.                                                                          |
| [22] | Incorporated                by reference to the Registrant’s Form 8-K dated March 7, 2005.                                                                                                             |
| [23] | Incorporated                by reference to the Registrant’s Form 10-Q for the quarter ended March 31,                2005.                                                                            |
| [24] | Incorporated                by reference to the Registrant’s Form 8-K dated July 1, 2005.                                                                                                              |
| [25] | Incorporated                by reference to the Registrant’s Form 8-K dated July 18, 2005.                                                                                                             |
| [26] | Incorporated                by reference to the Registrant’s Form 8-K dated September 16,                2005.                                                                                         |
| [27] | Incorporated                by reference to the Registrant’s Form 8-K dated September 29,                2005.                                                                                         |
| [28] | Incorporated                by reference to the Registrant’s Form 10-Q for the quarter ended September                30, 2005.                                                                        |
| [29] | Incorporated                by reference to the Registrant’s Form 8-K dated March 1,                2006.                                                                                              |
| [30] | Incorporated                by reference to the Registrant’s Form 8-K/A dated September 16,                2005.                                                                                       |
| [31] | Incorporated                by reference to the Registrant’s Form 8-K dated December 5,                2005.                                                                                           |
| [32] | Incorporated                by reference to the Registrant’s Form 8-K dated January 12,                2006.                                                                                           |
| [33] | Incorporated                by reference to the Registrant’s Form 8-K dated February 3,                2006.                                                                                           |
| [34] | Incorporated                by reference to the Registrant’s Form 10-K filed March 31,                2006                                                                                             |

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