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NightHawk Radiology Holdings, Inc. Announces Dutch Tender Offer for Its Common Stock
Date:5/14/2008

ares, subject to proration.

The tender is subject to conditions and other terms set forth in the tender offer materials that are being distributed to stockholders and filed with the Securities and Exchange Commission (SEC) today.

None of NightHawk, its board of directors, the dealer manager or the information agent is making any recommendation to NightHawk stockholders as to whether to tender or refrain from tendering their shares or as to the purchase price on any tender. NightHawk has been advised that none of its directors or executive officers intends to tender any shares pursuant to the offer. The dealer manager for the tender offer will be Morgan Stanley & Co. Incorporated. The Information Agent for the tender offer will be Innisfree M&A Incorporated and the Depositary for the tender offer will be Mellon Investor Services LLC.

This announcement is for informational purposes only and does not constitute an offer to purchase nor a solicitation of an offer to sell shares of NightHawk common stock. The solicitation of offers to buy shares of NightHawk common stock will only be made pursuant to the offer to purchase, dated May 14, 2008 (as may be amended or supplemented), the related letter of transmittal, and other related documents that NightHawk is sending to its stockholders. The tender offer materials contain important information that should be read carefully before any decision is made with respect to the tender offer. Those materials are being distributed by NightHawk to its stockholders at no expense to them. In addition, all of those materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC's Website at http://www.sec.gov and from the Information Agent.

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NightHawk Radiology (Nasdaq:

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