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Methodist Healthcare - Memphis Hospitals Announces the Commencement of the Tender Offer for Certain Designated Maturities of:

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")

NEW YORK, Feb. 12 /PRNewswire/ -- Methodist Healthcare-Memphis Hospitals ("Methodist") announced today that it has commenced a tender offer for certain designated maturities of the Bonds. The designated maturities for which the tender offer is applicable are as follows: for the Series 1985C Bonds, the Series 1985C Bonds maturing in 2014; for the Series 1995 Bonds, all maturities; and for the Series 1998 Bonds, the Series 1998 Bonds maturing in 2011, 2012, 2013 and 2018 (the "Designated Maturities").

Pursuant to the tender offer, Methodist would like the holders of the Designated Maturities to tender their Bonds in return for a premium price. Methodist will be calling for redemption all Bonds of the Designated Maturities that are not tendered through the tender offer. The redemption in the case of the Series 1995 Bonds and the Series 1998 Bonds will be on May 15, 2008, and the redemption in the case of the Series 1985C Bonds will be on August 1, 2008. The settlement date for the tender offer will match the redemption dates for each Series -- the Series 1995 Bonds and the Series 1998 Bonds that are tendered will settle on May 15, 2005 and the Series 1985C Bonds that are tendered will settle on August 1, 2008. In each case, the tender price, subject to the terms and conditions of the tender offer, for all Designated Maturities is one percent (1%) higher than the redemption price Methodist is required to pay on the day such Bonds are redeemed.

The tender offer will expire at 5:00 P.M., New York City time, on March 24, 2008, 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 tender 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 tender 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.

SOURCE Methodist Healthcare
Copyright©2008 PR Newswire.
All rights reserved

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