-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DqvizkwV1+EKU9hMMpbmPWRp4Ht8ocnd4XlcLypSDoyeg4XJoYXv1z4nX1LuSslf
 eYK8+Coq3A9wF2/xtmZEtA==

<SEC-DOCUMENT>0001209191-03-007012.txt : 20030609
<SEC-HEADER>0001209191-03-007012.hdr.sgml : 20030609
<ACCEPTANCE-DATETIME>20030609145133
ACCESSION NUMBER:		0001209191-03-007012
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030606
FILED AS OF DATE:		20030609

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDUCATION MANAGEMENT CORPORATION
		CENTRAL INDEX KEY:			0000880059
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				251119571
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		300 SIXTH AVENUE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		4125620900

	MAIL ADDRESS:	
		STREET 1:		300 SIXTH AVE
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MCDOWELL ROBERT T
		CENTRAL INDEX KEY:			0001129816

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21363
		FILM NUMBER:		03737323

	BUSINESS ADDRESS:	
		STREET 1:		300 SIXTH AVE
		STREET 2:		8TH FLOOR
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		4125620900

	MAIL ADDRESS:	
		STREET 1:		300 SIXTH AVE
		STREET 2:		8TH FLOOR
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			75222
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bpi00990_bpi2rtm.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0101</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-06-06</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000880059</issuerCik><issuerName>EDUCATION MANAGEMENT CORPORATION</issuerName>        <issuerTradingSymbol>EDMC</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001129816</rptOwnerCik><rptOwnerName>MCDOWELL ROBERT T</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>  </rptOwnerStreet1><rptOwnerStreet2>  </rptOwnerStreet2><rptOwnerCity>  </rptOwnerCity><rptOwnerState>  </rptOwnerState><rptOwnerZipCode>  </rptOwnerZipCode></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Executive VP and  CFO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeSecurity><securityTitle><value>Common Stock</value></s
ecurityTitle><transactionDate><value>2003-06-06</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>F</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5818</value></transactionShares><transactionValue><value>50.03</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>125948</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeSecurity><nonDerivativeSecurity><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-06-06</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved><
/transactionCoding><transactionAmounts><transactionShares><value>14000</value></transactionShares><transactionValue><value>7.50</value></transactionValue><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>139948</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeSecurity><derivativeSecurity><securityTitle><value>Option to acquire Common Stock</value></securityTitle><conversionOrExercisePrice><value>7.50</value></conversionOrExercisePrice><transactionDate><value>2003-06-06</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>14000</value></transactionShares><transactionValue><value>7.5
0</value></transactionValue><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2003-06-06</value></exerciseDate><expirationDate><value>2006-10-29</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>14000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>12668</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeSecurity><ownerSignature><signatureName>Robert T. McDowell</signatureName><signatureDate>2003-06-06</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----