Those who have advanced degrees from US institutions will be considered to be eligible for the first lottery that will pick 20,000 petitions.
Those with advanced degrees but not picked in the first lottery will be added back to the applicant pool. A second lottery will pick 65,000 petitions.
http://www.uscis.gov/news/uscis-will-accept-h-1b-petitions-f...
http://www.uscis.gov/news/alerts/uscis-completes-h-1b-cap-ra...