X0202 4 2006-08-01 0000922475 ITT EDUCATIONAL SERVICES INC ESI 0001116585 CHAMPAGNE RENE R 13000 NORTH MERIDIAN STREET CARMEL, IN 46032 1 1 0 0 Chairman and CEO Common Stock 2006-08-01 4 M 0 22500 6.75 A 123688 D Common Stock 2006-08-01 4 S 0 200 66.71 D 123488 D Common Stock 2006-08-01 4 S 0 1900 66.72 D 121588 D Common Stock 2006-08-01 4 S 0 200 66.73 D 121388 D Common Stock 2006-08-01 4 S 0 100 66.74 D 121288 D Common Stock 2006-08-01 4 S 0 5800 66.75 D 115488 D Common Stock 2006-08-01 4 S 0 3200 66.76 D 112288 D Common Stock 2006-08-01 4 S 0 2800 66.77 D 109488 D Common Stock 2006-08-01 4 S 0 1600 66.78 D 107888 D Common Stock 2006-08-01 4 S 0 700 66.79 D 107188 D Common Stock 2006-08-01 4 S 0 4700 66.80 D 102488 D Common Stock 2006-08-01 4 S 0 200 66.81 D 102288 D Common Stock 2006-08-01 4 S 0 100 66.82 D 102188 D Common Stock 2006-08-01 4 S 0 200 66.85 D 101988 D Common Stock 2006-08-01 4 S 0 400 66.87 D 101588 D Common Stock 2006-08-01 4 S 0 100 66.88 D 101488 D Common Stock 2006-08-01 4 S 0 100 66.90 D 101388 D Common Stock 2006-08-01 4 S 0 200 66.93 D 101188 D Stock Option (Right to Buy) 6.75 2006-08-01 4 M 0 22500 0 D 2010-01-09 Common Stock 22500 90000 D The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 1, 2006. Represents a portion of the: (a) 67,500 shares subject to a stock option (right to buy) granted on January 7, 2000 ("2000 Option"); and (b) the increase of 67,500 shares subject to the 2000 Option pursuant to the 2-for-1 split of the ESI common stock on June 6, 2002 ("June 2002 Split"). Represents an original exercise price of $13.50 for the shares of ESI common stock subject to the 2000 Option, reduced to $6.75 pursuant to the June 2002 Split. This total does not include 10,801 shares of ESI common stock beneficially owned under the ESI 401(k) Plan on July 1, 2006. The option vested in three equal installments on January 7, 2001, 2002 and 2003. Clark D. Elwood, Attorney-In-Fact for Rene R. Champagne 2006-08-02