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

ial adverse effect on our financial position, results of operations and cash flow.

We believe that our cash on hand, expected cash flows from operations, potential availability of borrowings under the revolving portion of our senior secured credit facilities, and funds available under the Master Lease will be sufficient to finance our operations, and meet our scheduled debt service requirements for at least the next twelve months.

On May 2, 2007, LifeCare REIT 1, Inc. ("Tenant"), a subsidiary of the Company entered into a Master Lease Agreement ("Lease") with Health Care REIT, Inc. and HCRI Texas Properties, LTD (collectively, the "Landlord") in connection with the sale and leaseback of a 62-bed long term acute care hospital being constructed by the Company in San Antonio, Texas ("San Antonio Facility"). As of Sept 30, 2007, the San Antonio Facility opened for business, at which point the operational lease commenced. The base rent is approximately $1.2 million per year, and is subject to annual inflationary adjustments. The inflationary adjustments, which are not to exceed a cumulative average of 0.25% per annum, are tied to the Medicare long term acute care market basket inflation rate, as determined by the Centers for Medicare and Medicaid Services. As of September 30, 2007, the Landlord had made payments of $13.6 million to the Company towards the estimated total purchase price of $15.7 million for the San Antonio Facility. No gain will be recognized from this transaction.

On June 6, 2007, Tenant amended the Master Lease Agreement ("Amended Lease") with Health Care REIT, Inc., HCRI Texas Properties, LTD and HCRI Wisconsin Properties, LLC (collectively, the "Milwaukee Landlord") to include the sale and leaseback of a 62-bed long term acute care hospital being constructed by the Company in Milwaukee, Wisconsin ("Milwaukee Facility"). The base rent is approximately $2.5 million per year, and is subject to annual inflation adjustments. The inflation
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SOURCE LifeCare Holdings, Inc.
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