RiskMetrics Recommends That Providence Service Corporation Stockholders Vote for Providence's Director Nominees on the White ...(idence's largest institutional stockhold...),Health

Date:6/8/2009

idence's largest institutional stockholders. Mr. Cryan has over 20 years of experience in international business as an investment banker in the United States and Europe as well as CEO level experience, public company board experience and experience in a worldwide poverty organization. The RiskMetrics report stated:

"Finally, we note that the board recently appointed Terence Cryan at the request of a significant shareholder. We believe that Mr. Cryan's presence on the board may satisfy the need for greater shareholder representation."

In its report recommending that stockholders vote with Providence's management for the director nominees, PROXY Governance, Inc. stated:

"Our analysis of the two competing slates of director nominees further compels us to support management, whose nominees for the 2009 annual meeting offer the depth and applicability of experience necessary to continue to lead the company. . . [W]e do not believe the dissident nominees have sufficient industry and board expertise to outweigh the loss of the two directors targeted by the proxy contest. Moreover, the board's recent appointment of [Terence J. Cryan] demonstrates both an openness to strengthening the board with highly-experienced and appropriate new independent directors, and to seeking out shareholder input with regard to the board's composition."

In its report, PROXY Governance also commented on the success of the Providence Board in responding to the numerous challenges that Providence faced over the past year. The PROXY Governance report stated:

". . . [W]e recognize that the board did ultimately follow a prudent and well-thought-out response to the economic risks the company faced, and appears to have pulled the company back from the brink. We therefore believe that shareholders would best be served by the re-election of the better qualified and experienced management nominees."'/>"/>

SOURCE The Providence Service Corporation Copyright©2009 PR Newswire. All rights reserved

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