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LifeCare Holdings, Inc. Announces Third Quarter Results
Date:11/14/2007

such that it can be no greater than the amount required for purposes of complying with the financial covenants nor can this cure right be exercised more than two times in any trailing four-quarter period.

The cure right cash contribution necessary to cure our non-compliance with the financial covenants tested as of September 30, 2007, which was $6.0 million, was received by our ultimate parent company, which we refer to as Holdings, from affiliates of The Carlyle Group, on November 14, 2007. Holdings in turn contributed these funds to the capital of the Company through certain intermediate subsidiaries. As a result of the exercise of this cure, we are currently in compliance with the covenants of the credit agreement as amended, and we are deemed to have satisfied the requirements of such financial covenants as of September 30, 2007.

On November 7, 2007, we announced that we would be seeking an amendment to our credit agreement that would address, among other items, future covenant requirements. There can be no assurance that we will be able to obtain any amendment to our credit agreement on the terms to be proposed by us or at all. If we are able to execute an amendment and obtain a waiver, it is likely we will incur one-time fees and expenses, and will be required to pay a higher interest margin on our outstanding indebtedness in subsequent periods.

We may not able to continue to satisfy the covenant requirements in subsequent periods. If we are unable to maintain compliance with the covenants contained in our senior secured credit facility, an event of default would occur. During the continuance of an event of a default, the lenders under the senior secured credit facility are entitled to take various actions, including accelerating amounts due under the senior secured credit facility, terminating our access to our revolving credit facility and all other actions permitted to be taken by a secured creditor. An event of default could have a mater
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SOURCE LifeCare Holdings, Inc.
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