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Providence Service Corporation Retains UBS Investment Bank as its Financial Advisor in Connection With the Sale of Certain Non-Strategic Assets
Date:11/26/2008

TUCSON, Ariz., Nov. 26 /PRNewswire-FirstCall/ -- The Providence Service Corporation (Nasdaq: PRSC) today announced that it has retained UBS Investment Bank as its financial advisor.

In a recent press release, the Company said it was considering strategic options relating to, among other things, delevering its debt, growing its core social services business and selling certain non-strategic assets. UBS Investment Bank has been retained in connection with selling certain non-strategic assets.

About Providence

Providence Service Corporation, through its owned and managed entities, provides home and community based social services and non-emergency transportation services management to government sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections. Providence does not own or operate beds, treatment facilities, hospitals or group homes, preferring to provide services in the client's own home or other community setting. The Company provides a range of services through its direct and managed entities to over 74,000 clients through 870 contracts at September 30, 2008, with an estimated six million individuals eligible to receive the Company's non-emergency transportation services related to its LogistiCare operations. Combined, the Company has a nearly $1 billion book of business including managed entities.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned n
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SOURCE The Providence Service Corporation
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