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Memphis Hospitals announces debt tender offer

Methodist Healthcare - Memphis Hospitals Announces Tender Offer for The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee Adjustable-Rate Hospital Revenue Bonds, Series 1985C (Methodist

Health Systems, Inc.) ("Series 1985C Bonds") The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee Hospital Revenue Bonds, Series 1995 (Methodist Health Systems,

Inc.) ("Series 1995 Bonds") The Health, Educational and Housing Facility Board of the County of Shelby,

Tennessee Hospital Revenue Bonds, Series 1998 (Methodist Healthcare) ("Series 1998 Bonds" and, together with Series 1985C Bonds and Series 1995

Bonds, the "Bonds")

MEMPHIS, Tenn., Sept. 7 /PRNewswire/ -- Methodist Healthcare -- Memphis Hospitals ("Methodist") announced today that it has commenced a tender offer (the "Offer") for the Bonds.

Pursuant to the Offer, Methodist would like the holders of these Bonds to tender their Bonds in return for a premium price. The Tender Price for the different maturities of each Series is contained in the Offer. The Series 1985C Bonds and Series 1995 Bonds are currently callable and the Series 1998 Bonds are callable beginning April 1, 2008. The Tender Price, subject to the terms and conditions of the tender offer, is one percent (1%) higher than the redemption price Methodist would need to pay if it were to redeem the Bonds at this time (or on April 1, 2008 in the case of the Series 1998 Bonds).

The Offer will expire at 5:00 P.M., New York City time, on October 10, 2007, unless earlier terminated or extended by Methodist in its sole discretion.

Methodist is a Tennessee non-profit corporation that owns and operates four adult acute-care hospitals in the Memphis, Tennessee area (including Methodist University Hospital, South Hospital, North Hospital, and Germantown Hospital) and one pediatric acute-care hospital (Le Bonheur Children's Medical Center) with a combined licensed bed complement of 1,551 acute care beds and 44 skilled nursing beds. Methodist provides a wide range of inpatient and outpatient services. Methodist is the largest affiliate of Methodist Le Bonheur Healthcare ("MLH"), a Tennessee non-profit corporation established for the primary purpose of supporting and extending the health and welfare ministries of the Memphis, Arkansas and Mississippi Annual Conferences of The United Methodist Church. MLH is a health care delivery system which includes tertiary care, sub-acute care, hospice care, primary and specialty physician services and other health care services. MLH provides healthcare services to the residents of Memphis and portions of western Tennessee, eastern Arkansas and north Mississippi.

J.P. Morgan Securities Inc. is acting as Dealer Manager for the Offer. This communication is for informational purposes only and does not constitute an offer or solicitation to purchase any of the Bonds or as an official confirmation of any transaction. The Offer is made only pursuant to the tender offer documents which may be obtained from D.F. King & Co., Inc., which is serving as Information Agent, at (800) 949-2583.

Forward-Looking Statements

This press release contains "forward-looking statements" including, but not limited to, statements regarding Methodist's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Methodist undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.

SOURCE Methodist Hospitals
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