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Nelnet Honored with Dual Industry Awards in 2006 for LoanSTAR Acquisition

For Release: 1/12/2007

Contact: Eric Solomon, 202.659.2258

Lincoln, Neb., January 12, 2007 -- Nelnet (NYSE: NNI), a leading education planning and financing company, was recently honored with for its acquisition of the LoanSTAR Funding Group, Inc., a prominent Texas-based secondary market and loan originator, from the Greater Texas Foundation in October 2005. Two awards were given: the Financial Services Deal of the Year by the M&A Advisor and Best Non-Profit Merger/Acquisition for 2006 from the Dallas Business Journal.

The M&A Advisor is a nationally recognized publisher covering the middle-market investment banking industry that hosts an annual awards banquet to recognize outstanding achievement in middle-market mergers and acquisitions.

The Dallas Business Journal Best Non-Profit Merger/Acquisition award was made to honor the LoanSTAR acquisition. Although there was no specific category for nonprofit deals, the judges thought it merited recognition. Ralph Rushing, President of LoanSTAR Funding Group Inc., accepted the Journal award in Dallas.

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About Nelnet

For 28 years, Nelnet has been helping the education-seeking family plan for their education, pay for their education, and prepare for their careers. The company has invested hundreds of millions of dollars in products, services, and technology improvements for students and the educational institutions they attend. These services include live counseling to help families through all aspects of the financial aid process, benefits for borrowers, including tens of millions of dollars in fee reductions, and Nelnet sponsored scholarships. Nelnet serves students in 50 states, employs approximately 3,700 associates, and has $22.9 billion in net student loan assets.

Additional information is available at www.nelnet.com.

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