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Providence Service Corporation Releases Third Quarter Results
Date:11/5/2008

ted rate increases.

"We are working hard and making progress getting these budget issues behind us to position the Company for 2009," said Fletcher McCusker, Chairman and CEO. "We have good momentum now with earlier problem payers, we are communicating our issues with our NET payers in a very difficult economic environment and we have new business coming on line for 2009 in Georgia, Illinois, Indiana and in South Carolina, where we are not necessarily in control of the timing. We have almost $37 million of cash and are paying down our senior debt. In addition, Congress has begun hearings to consider a Medicaid stimulus package which was approved in 2003 under similar circumstances."

Guidance

As stated in its October 22, 2008 press release, the Company expects to report a net loss for the year as a result of its asset impairment charge and, combined with continued uncertainties in its business, has withdrawn its guidance for 2008. Positive events which could contribute to the Company's financial results, however, could come from delayed new business procurements that could be worth up to approximately $60 million in revenue annually and possible payer rate adjustments. However in the current economic environment, it is uncertain if and when any of the above will occur.

Conference Call

Providence will hold a conference call to discuss its results on Wednesday, November 5, 2008 at 11:00 a.m. EST (9:00 a.m. Arizona and MST and 8:00 a.m. PST). Interested parties are invited to listen to the call live over the Internet at http://investor.provcorp.com or http://www.earnings.com. The call is also available by dialing (888) 713-4216, or for international callers (617) 213-4868 and by using the passcode 89509569. Participants may pre-register for the call at

SOURCE Providence Service Corporation
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