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Chem Rx Corporation Reports Full Year 2007 Financial Results
Date:4/3/2008

o Forma Consolidated Full Year 2007 Operating Results

The 2007 pro forma results of operations include the combined results of operations of B.J.K. Inc. from January 1, 2007 to October 26, 2007 and the consolidated results of operations of Chem Rx Corporation (including its subsidiary B.J.K. Inc.) from October 27, 2007 to December 31, 2007.

Pro forma consolidated net sales of Chem Rx Corporation for fiscal year ended December 31, 2007 were $317.2 million, a 21.2% increase compared to $261.6 million for the fiscal year ended December 31, 2006. This growth was primarily attributed to a 21% increase in net beds served which reached 63,800 at year-end 2007, and higher net sales per bed. The pro forma consolidated net sales of Chem Rx Corporation includes the $60.5 million of net sales to be reported by Chem Rx Corporation for the 12 months ended December 31, 2007 and the $256.7 million of net sales to be reported by B.J.K. Inc. for the nine months and 26 days ending on October 26, 2007 (i.e., the period prior to the business combination).

Pro forma consolidated adjusted earnings before interest, income taxes, depreciation and amortization ("Pro forma adjusted EBITDA") were $24.1 million for the fiscal years ended December 31, 2007 and 2006. Pro forma adjusted EBITDA is a non-GAAP financial measure.

Recent Corporate Developments

During the first quarter of 2008, Chem Rx completed its new pharmacy operations center in Deerfield Beach, Florida, which commenced operations on April 1, 2008. With the opening of this fifth location, Chem Rx will service institutional pharmacy clients in the South Florida market.

During the first quarter of 2008, Chem Rx completed the expansion of its South Plainfield, New Jersey facility, adding an additional 5,500 square feet. The construction project increased the size of the facility to approximately 14,000 square feet.

In March 2008, Chem Rx filed an application for the listing of its common
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SOURCE Chem Rx Corporation
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