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Select Medical Holdings Corporation Announces Exercise of Underwriters' Option to Purchase Additional Shares
Date:10/24/2009

MECHANICSBURG, Pa., Oct. 23 /PRNewswire-FirstCall/ -- Select Medical Holdings Corporation ("Select") (NYSE: SEM), the parent of Select Medical Corporation, today announced that it had received notice of the exercise of the underwriters' over-allotment option to purchase an additional 3,602,700 shares of Select's common stock at a price per share of $10.00, which is expected to close on October 28, 2009, subject to customary closing conditions. The over-allotment option was granted in connection with Select's initial public offering of 30,000,000 shares, which closed on September 30, 2009.

Total additional net proceeds to Select from the exercise of the over-allotment option are expected to be approximately $33.9 million. Select intends to use the net proceeds from the exercise of the over-allotment option to repay indebtedness. Any remaining net proceeds will be used for general corporate purposes.

Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated, BofA Merrill Lynch and J.P. Morgan Securities Inc. acted as joint book-runners for the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. A copy of the final prospectus related to the offering may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad St., New York, NY 10004 or by faxing (212) 902-9316 or calling toll-free 1-866-471-2526 or emailing at prospectus - ny@ny.email.gs.com; or Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014 (email address: prospectus@morganstan
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