X0202 4 2007-08-13 0001104349 CAPELLA EDUCATION CO CPLA 0001188444 REYNOLDS JON Q JR C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO CA 94301 1 0 0 1 May be part of 13(g) group Common Stock 2007-08-13 4 S 0 343498 44.0229 D 1194337 I TCV V, L.P. Common Stock 2007-08-13 4 S 0 6502 44.0229 D 22608 I TCV Member Fund, L.P. These shares are directly held by TCV V, L.P. Each of Jon Q. Reynolds, Jr., Jay C. Hoag, Richard H. Kimball, John L. Drew, William J.G. Griffith IV and Henry J. Feinberg (collectively the "TCM Members") are Class A Members of Technology Crossover Management V, L.L.C. ("TCM V") which is a general partner of TCV V, L.P. The TCM Members and TCM V may be deemed to beneficially own the shares held by TCV V, L.P. but the TCM Members and TCM V disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein. These shares are directly held by TCV Member Fund, L.P. Each of the TCM Members are (i) Class A Members of TCM V which is a general partner of TCV Member Fund, L.P. and (ii) limited partners of TCV Member Fund, L.P. The TCM Members and TCM V may be deemed to beneficially own the shares held by TCV Member Fund, L.P. but the TCM Members and TCM V disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein. Carla S. Newell Authorized signatory for Jon Q. Reynolds Jr. 2007-08-15