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HealthSouth Reports Results for Fourth Quarter Ended December 31, 2007
Date:2/25/2008

made the final $25.0 million payment related to our SEC Settlement in October 2007.

Our leverage and liquidity are improving. During the fourth quarter of 2007, we used $405 million of our $440 million income tax recovery to pay down amounts outstanding under our Credit Agreement. This debt reduction was in addition to the use of the net cash proceeds from our divestiture transactions to pay down amounts outstanding under our Credit Agreement in the second and third quarters of 2007.

We also used available cash to redeem approximately $27 million of our 10.75% Senior Notes due 2016 during the fourth quarter of 2007. This $27 million redemption was in addition to the $32 million redemption we made in the third quarter of 2007 for these higher interest rate notes.

As of December 31, 2007, total long-term debt was $2.0 billion compared to $3.4 billion as of December 31, 2006, representing a reduction of $1.4 billion.

We have announced the sale of our corporate campus, and we expect the receipt of additional income tax recoveries. This cash will be used primarily to further reduce long-term debt. However, no assurances can be given as to whether or when such cash flows will be received.

2008 Guidance

"With our repositioning behind us, we believe 2008 will be a year where we will see the benefits of our operational initiatives reflected through volume growth, increased net operating revenues, and growth in earnings per share," said Mr. Grinney. "These operational initiatives will allow us to continue to provide high-quality care to our patients while setting the platform for sustained growth in 2009 and beyond."

Our 2008 guidance includes the following:

-- Inpatient discharges are expected to grow 2% to 4% year over year. We

expect this growth will occur throughout the year as we complete the

roll-out of our TeamWorks initiative, which is scheduled to be

completed by the end of the
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SOURCE HealthSouth Corporation
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