Select Medical Corporation Announces
Results for Fourth Quarter and Year Ended December 31, 2005

     MECHANICSBURG, PENNSYLVANIA — March 17, 2006 — Select Medical Corporation today announced results for its fourth quarter and year ended December 31, 2005.

     On February 24, 2005, Select Medical Corporation (“Select”) consummated a merger with a wholly-owned subsidiary of Select Medical Holdings Corporation (“Holdings”) pursuant to which Select became a wholly-owned subsidiary of Holdings. Holdings is owned by an investor group that includes Welsh, Carson, Anderson & Stowe IX, LP (“Welsh Carson”), Thoma Cressey Equity Partners, Inc. (“Thoma Cressey”) and members of Select’s senior management. As a result of the merger, Select’s assets and liabilities have been adjusted to their fair value as of the closing. Select also experienced an increase in aggregate outstanding indebtedness as a result of financing transactions associated with the merger. Accordingly, amortization expense and interest expense are higher in periods following the merger. Additionally, certain costs associated with the merger are reflected in the 2005 income statement periods. As a result, the financial statements for the periods before and after the merger are not comparable in certain respects.

     On March 1, 2006, a subsidiary of Select sold all the issued and outstanding shares of Canadian Back Institute Limited (“CBIL”) for approximately C$89.8 million in cash (US $79.0 million). CBIL comprised Select’s entire Canadian operations. As a result of the sale, the operating results of CBIL have been reclassified and reported as discontinued operations for all reported periods, and its assets and liabilities have been reclassified as held for sale on our December 31, 2005 balance sheet.

     For the fourth quarter ended December 31, 2005, net operating revenues increased 13.4% to $458.0 million compared to $403.7 million for the same quarter, prior year. Income from operations increased 16.0% to $64.8 million compared to $55.9 million for the same quarter, prior year. Net income declined 15.3% to $25.3 million compared to $29.8 million for the same quarter, prior year. Additionally, net income before interest, income taxes, depreciation and amortization, income from discontinued operations, loss on early retirement of debt, merger related charges, stock compensation expense, long-term incentive compensation, other income and minority interest (“Adjusted EBITDA”) for the fourth quarter increased 17.1% to $77.4 million compared to $66.1 million for the same quarter, prior year. A reconciliation of net income to Adjusted EBITDA is attached to this release.

     For the combined twelve months ended December 31, 2005, net operating revenues increased 16.0% to $1,858.4 million compared to $1,601.5 million for the prior year. Income from operations decreased 46.5% to $119.1 million compared to $222.5 million for the prior year. Select had a net loss of $14.7 million for the combined twelve months ended December 31, 2005 compared to net income of $118.2 million for the prior year. Additionally, Adjusted EBITDA for the combined twelve months ended December 31, 2005 increased 26.2% to $329.9 million compared to $261.5 million for the prior year.

Specialty Hospitals

     At December 31, 2005, Select operated 97 long-term acute care hospitals and four acute medical rehabilitation hospitals. This compares to 82 long-term acute care hospitals and four acute medical rehabilitation hospitals operated at December 31, 2004. For the fourth quarter of 2005, net operating revenues for all of Select’s hospitals increased 21.1% to $341.0 million compared to $281.6 million for the same quarter, prior year. Total patient days for the fourth quarter 2005 were 245,165, admissions were 9,907 and net revenue per patient day was $1,354. This compares to 201,594 days, 8,282 admissions and net revenue per patient day of $1,364 for the same quarter, prior year. For the hospitals opened before January 1, 2004 and operated by Select throughout both periods, patient days in the fourth quarter of 2005 were 208,836 and admissions were 8,575, compared to 195,187 days and 8,036 admissions in the same quarter, prior year. Adjusted EBITDA for the segment increased 17.9% to $72.1 million compared to $61.2 million for the same quarter, prior year. The Adjusted EBITDA margin for the segment was 21.2% for the fourth quarter of 2005, compared to 21.7% for the same quarter, prior year. The Adjusted EBITDA margin for the hospitals opened before January 1, 2004 and operated by Select throughout both periods was 22.4% for the fourth quarter of 2005, compared to 23.2% for the same quarter, prior year.

     For the combined twelve months ended December 31, 2005, net operating revenues for all of Select’s hospitals increased 25.8% to $1,370.3 million compared to $1,089.5 million for the prior year. Total patient days for the combined twelve months ended December 31, 2005 were 985,025, admissions were 39,963 and net revenue per patient day was $1,357. This compares to 816,898 days, 33,523 admissions and net revenue per patient day of $1,306 for the prior year. For the hospitals opened before January 1, 2004 and operated by Select throughout both periods, patient days for the combined twelve months ended December 31, 2005 were 833,770 and admissions were 34,297, compared to 793,751 days and 32,633 admissions in the prior year. Adjusted EBITDA for the segment for the combined twelve months ended December 31, 2005 increased 30.1% to $307.3 million compared to $236.2 million for the prior year. The Adjusted EBITDA margin for the segment for the combined twelve months ended December 31, 2005 was 22.4%, compared to 21.7% for the prior year. The Adjusted EBITDA margin for the hospitals opened before January 1, 2004 and operated by Select throughout both periods was 23.7% for the combined twelve months ended December 31, 2005, compared to 22.7% for the prior year.

Outpatient Rehabilitation

     At December 31, 2005, Select operated 608 outpatient clinics. This compares to 640 outpatient clinics at December 31, 2004. For the fourth quarter of 2005, net operating revenues declined 2.1% to $116.3 million compared to $118.8 million for the same quarter, prior year. Adjusted EBITDA for the fourth quarter declined 7.6% to $13.5 million compared to $14.7 million for the same quarter, prior year. The Adjusted EBITDA margin for the quarter was 11.6% compared to 12.3% in the same quarter, prior year. Patient visits for the quarter were 826,371 compared to 877,178 for the same quarter, prior year. Net revenue per visit was $91 for the fourth quarter of 2005 compared to $92 for the same quarter, prior year. Number of clinics, net operating revenues and Adjusted EBITDA excludes CBIL. CBIL is being reported as a discontinued operation.

     For the combined twelve months ended December 31, 2005, net operating revenues declined 3.6% to $480.7 million compared to $498.8 million for the prior year. Adjusted EBITDA for the combined twelve months ended December 31, 2005 declined 7.8% to $66.0 million compared to $71.6 million for the prior year. The Adjusted EBITDA margin for the combined twelve months ended December 31, 2005 was 13.7% compared to 14.3% in the prior year. Patient visits for the twelve months ended December 31, 2005 were 3,518,740 compared to 3,810,284 for the prior year. Net revenue per visit was $90 for both years. Number of clinics, net operating revenues and Adjusted EBITDA excludes CBIL. CBIL is being reported as a discontinued operation.

Conference Call

     Select will host a conference call regarding its fourth quarter and full year results on Tuesday, March 21, 2006, at 11:00 am EST. The domestic dial in number for the call is 1-866-219-5268. The international dial in number is 1-703-639-1120.

* * * * *

     Select Medical Corporation is a leading operator of specialty hospitals in the United States. Select operates 97 long-term acute care hospitals in 26 states. Select operates four acute medical rehabilitation hospitals in New Jersey. Select is also a leading operator of outpatient rehabilitation clinics in the United States, with approximately 608 locations. Select also provides medical rehabilitation services on a contract basis at nursing homes, hospitals, assisted living and senior care centers, schools and worksites. Information about Select is available at http://www.selectmedicalcorp.com/

     Certain statements contained herein that are not descriptions of historical facts are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to those discussed in filings made by Select with the Securities and Exchange Commission. Many of the factors that will determine Select’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. Select undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Investor inquiries:

Joel Veit, 717/972-1100

I. Condensed Consolidated Statements of Operations
(In thousands)
(unaudited)
For the Three Months Ended December 31, 2004 and 2005

		Predecessor (1)					Successor (1)				%
		2004					2005				Change
Net operating revenues		$	403,724				$	457,958				13.4	%
Costs and expenses:
Cost of services			315,985					368,746				16.7	%
Stock compensation expense			—					2,745				N/M
General and administrative			9,366					7,838				(16.3	)%
Bad debt expense			12,284					3,969				(67.7	)%
Depreciation and amortization			10,187					9,812				(3.7	)%
Income from operations			55,902					64,848				16.0	%
Other income			(286	)				(2,360	)			725.2	%
Interest income			(1,098	)				(256	)			(76.7	)%
Interest expense			8,158					23,631				189.7	%
Income from continuing operations before minority interests and income taxes			49,128					43,833				(10.8	)%
Minority interests			537					426				(20.7	)%
Income from continuing operations before income taxes			48,591					43,407				(10.7	)%
Income tax expense			19,734					17,847				(9.6	)%
Income from continuing operations			28,857					25,560				(11.4	)%
Income (loss) from discontinued operations, net of tax			969					(295	)			(130.4	)%
Net income		$	29,826				$	25,265				(15.3	)%

(1)

On February 24, 2005, Select Medical Corporation (the “Company”) merged with a subsidiary of Select Medical Holdings Corporation (“Holdings”) and became a wholly-owned subsidiary of Holdings. The Company’s financial position and results of operations prior to the merger are presented separately in the consolidated financial statements as “Predecessor” financial statements, while the financial position and results of operations following the merger are presented as “Successor” financial statements. Due to the revaluation of assets as a result of purchase accounting associated with the merger, the pre-merger financial statements are not comparable with those after the merger in certain respects.

II. Condensed Consolidated Statements of Operations
(In thousands)
(unaudited)
For the Twelve Months Ended December 31, 2004 and 2005

		Predecessor (1)									Successor (1)				Combined (2)
						Period from					Period from
		For the Twelve				January 1					February 25				For the Twelve
		Months Ended				through					through				Months Ended
		December 31,				February 24,					December 31,				December 31,
		2004				2005					2005				2005				% Change
Net operating revenues		$	1,601,524			$	277,736				$	1,580,706			$	1,858,442				16.0	%
Costs and expenses:
Cost of services			1,246,249				217,133					1,244,183				1,461,316				17.3	%
Stock compensation expense			—				142,213					10,312				152,525				N/M
Long-term incentive compensation			—				—					14,453				14,453				N/M
General and administrative			45,856				7,484					34,907				42,391				(7.6	)%
Bad debt expense			47,963				6,588					18,213				24,801				(48.3	)%
Depreciation and amortization			38,951				5,933					37,922				43,855				12.6	%
Income (loss) from operations			222,505				(101,615	)				220,716				119,101				(46.5	)%
Loss on early retirement of debt			—				42,736					—				42,736				N/M
Merger related charges			—				12,025					—				12,025				N/M
Other income			(1,096	)			(267	)				(3,018	)			(3,285	)			199.7	%
Interest income			(2,583	)			(523	)				(767	)			(1,290	)			(50.1	)%
Interest expense			33,299				4,651					83,752				88,403				165.5	%
Income (loss) from continuing operations before minority interests, and income taxes			192,885				(160,237	)				140,749				(19,488	)			(110.1	)%
Minority interests			2,608				330					1,776				2,106				(19.2	)%
Income (loss) from continuing operations
before income taxes			190,277				(160,567	)				138,973				(21,594	)			(111.3	)%
Income tax expense (benefit)			76,551				(59,794	)				56,470				(3,324	)			(104.3	)%
Income (loss) from continuing operations			113,726				(100,773	)				82,503				(18,270	)			(116.1	)%
Income from discontinued operations, net of tax			4,458				522					3,072				3,594				(19.4	)%
Net income (loss)		$	118,184			$	(100,251	)			$	85,575			$	(14,676	)			(112.4	)%

(1)		On February 24, 2005, Select Medical Corporation (the “Company”) merged with a subsidiary of Select Medical Holdings Corporation (“Holdings”) and became a wholly-owned subsidiary of Holdings. The Company’s financial position and results of operations prior to the merger are presented separately in the consolidated financial statements as “Predecessor” financial statements, while the financial position and results of operations following the merger are presented as “Successor” financial statements. Due to the revaluation of assets as a result of purchase accounting associated with the merger, the pre-merger financial statements are not comparable with those after the merger in certain respects.
(2)		Although the Predecessor and Successor results are not comparable by definition in certain respects due to the merger and the resulting revaluation, for ease of comparison, the financial data for the period after the merger, February 25, 2005 through December 31, 2005 (Successor period), has been added to the financial data for the period from January 1, 2005 through February 24, 2005 (Predecessor period), to arrive at the combined twelve months ended December 31, 2005. As a result of the merger, interest expense, loss on early retirement of debt, merger related charges, stock compensation expense, long-term incentive compensation, depreciation and amortization have been impacted.

III. Condensed Consolidated Balance Sheets
(In thousands)
(unaudited)

		Predecessor (1)					Successor (1)
		December 31,					December 31,
		2004					2005
Assets
Cash		$	247,476				$	35,861
Restricted cash			7,031					6,345
Accounts receivable, net			216,852					256,798
Current deferred tax asset			59,239					59,135
Prepaid taxes			—					4,110
Current assets held for sale			—					13,876
Other current assets			18,737					19,725
Total current assets			549,335					395,850
Property and equipment, net			165,336					248,541
Goodwill			302,069					1,305,210
Other identifiable intangibles			78,304					86,789
Other assets held for sale			—					61,388
Other assets			18,677					65,591
Total assets		$	1,113,721				$	2,163,369
Liabilities and Stockholders’ Equity
Payables and accruals		$	232,063				$	296,765
Current liabilities held for sale			—					4,215
Current portion of long-term debt			3,557					6,516
Total current liabilities			235,620					307,496
Long-term debt, net of current portion			351,033					1,315,764
Non-current deferred tax liability			4,458					25,771
Non-current liabilities held for sale			—					3,817
Minority interests			6,667					4,356
Stockholders’ equity			515,943					506,165
Total liabilities and stockholders’ equity		$	1,113,721				$	2,163,369

(1)

On February 24, 2005, Select Medical Corporation (the “Company”) merged with a subsidiary of Select Medical Holdings Corporation (“Holdings”) and became a wholly-owned subsidiary of Holdings. The Company’s financial position and results of operations prior to the merger are presented separately in the consolidated financial statements as “Predecessor” financial statements, while the financial position and results of operations following the merger are presented as “Successor” financial statements. Due to the revaluation of assets as a result of purchase accounting associated with the merger, the pre-merger financial statements are not comparable with those after the merger in certain respects.

IV. Key Statistics
(unaudited)
For the Three Months Ended December 31, 2005 and 2004

										%
		2004				2005				Change
Specialty Hospitals (a)
Number of hospitals — end of period			86				101				17.4	%
Net operating revenues (,000)		$	281,594			$	341,037				21.1	%
Number of patient days			201,594				245,165				21.6	%
Number of admissions			8,282				9,907				19.6	%
Net revenue per patient day (b)		$	1,364			$	1,354				(0.7	)%
Adjusted EBITDA (,000)		$	61,215			$	72,149				17.9	%
Adjusted EBITDA margin — all hospitals			21.7	%			21.2	%			(2.3	)%
Adjusted EBITDA margin — same store hospitals (c)			23.2	%			22.4	%			(3.4	)%
Outpatient Rehabilitation (e)
Number of clinics — end of period			640				608				(5.0	)%
Net operating revenues (,000)		$	118,841			$	116,348				(2.1	)%
Number of visits (US)			877,178				826,371				(5.8	)%
Revenue per visit (US) (d)		$	92			$	91				(1.1	)%
Adjusted EBITDA (,000)		$	14,650			$	13,541				(7.6	)%
Adjusted EBITDA margin			12.3	%			11.6	%			(5.7	)%

V. Key Statistics
(unaudited)
For the Twelve Months Ended December 31, 2005 and 2004

										%
		2004				2005				Change
Specialty Hospitals (a)
Number of hospitals — end of period			86				101				17.4	%
Net operating revenues (,000)		$	1,089,538			$	1,370,320				25.8	%
Number of patient days			816,898				985,025				20.6	%
Number of admissions			33,523				39,963				19.2	%
Net revenue per patient day (b)		$	1,306			$	1,357				3.9	%
Adjusted EBITDA (,000)		$	236,181			$	307,339				30.1	%
Adjusted EBITDA margin — all hospitals			21.7	%			22.4	%			3.2	%
Adjusted EBITDA margin — same store hospitals (c)			22.7	%			23.7	%			4.4	%
Outpatient Rehabilitation (e)
Number of clinics — end of period			640				608				(5.0	)%
Net operating revenues (,000)		$	498,830			$	480,711				(3.6	)%
Number of visits (US)			3,810,284				3,518,740				(7.7	)%
Revenue per visit (US) (d)		$	90			$	90				0.0	%
Adjusted EBITDA (,000)		$	71,562			$	65,957				(7.8	)%
Adjusted EBITDA margin			14.3	%			13.7	%			(4.2	)%

VI. Net Income (Loss) to Adjusted EBITDA Reconciliation
(In thousands)
(unaudited)
For the Three and Twelve Months Ended December 31, 2005 and 2004

     The following table reconciles net income (loss) to Adjusted EBITDA for the Company. Adjusted EBITDA is used by the Company to report its segment performance in accordance with SFAS No. 131. Adjusted EBITDA is defined as net income (loss) before interest, income taxes, depreciation and amortization, income (loss) from discontinued operations, loss on early retirement of debt, merger related charges, stock compensation expense, long-term incentive compensation, other income and minority interest. We believe that the presentation of Adjusted EBITDA is important to investors because Adjusted EBITDA is used by management to evaluate financial performance and determine resource allocation for each of our operating units.

     Adjusted EBITDA is not a measure of financial performance under generally accepted accounting principles. Items excluded from Adjusted EBITDA are significant components in understanding and assessing financial performance. Adjusted EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, cash flows generated by operations, investing or financing activities, or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity. Because Adjusted EBITDA is not a measurement determined in accordance with generally accepted accounting principles and is thus susceptible to varying calculations, Adjusted EBITDA as presented may not be comparable to other similarly titled measures of other companies.

		Predecessor (1)					Successor (1)				Predecessor (1)									Successor (1)				Combined (2)
		Three Months Ended
		December 31,
															Period from					Period from
											For the Twelve				January 1					February 25				For the Twelve
											Months Ended				through					through				Months Ended
											December 31,				February 24,					December 31,				December 31,
		2004					2005				2004				2005					2005				2005
Net income (loss)		$	29,826				$	25,265			$	118,184			$	(100,251	)			$	85,575			$	(14,676	)
Loss (income) from discontinued operations, net of tax			(969	)				295				(4,458	)			(522	)				(3,072	)			(3,594	)
Income tax expense (benefit)			19,734					17,847				76,551				(59,794	)				56,470				(3,324	)
Minority interest			537					426				2,608				330					1,776				2,106
Interest expense, net			7,060					23,375				30,716				4,128					82,985				87,113
Other income			(286	)				(2,360	)			(1,096	)			(267	)				(3,018	)			(3,285	)
Loss on early retirement of debt			—					—				—				42,736					—				42,736
Merger related charges			—					—				—				12,025					—				12,025
Stock compensation expense			—					2,745				—				142,213					10,312				152,525
Long-term incentive compensation			—					—				—				—					14,453				14,453
Depreciation and amortization			10,187					9,812				38,951				5,933					37,922				43,855
Adjusted EBITDA		$	66,089				$	77,405			$	261,456			$	46,531				$	283,403			$	329,934
Specialty hospitals		$	61,215				$	72,149			$	236,181			$	44,343				$	262,996			$	307,339
Outpatient rehabilitation			14,650					13,541				71,562				9,848					56,109				65,957
Other (3)			(9,776	)				(8,285	)			(46,287	)			(7,660	)				(35,702	)			(43,362	)
Adjusted EBITDA		$	66,089				$	77,405			$	261,456			$	46,531				$	283,403			$	329,934

(1)		On February 24, 2005, Select Medical Corporation (the “Company”) merged with a subsidiary of Select Medical Holdings Corporation (“Holdings”) and became a wholly-owned subsidiary of Holdings. The Company’s financial position and results of operations prior to the merger are presented separately in the consolidated financial statements as “Predecessor” financial statements, while the financial position and results of operations following the merger are presented as “Successor” financial statements. Due to the revaluation of assets as a result of purchase accounting associated with the merger, the pre-merger financial statements are not comparable with those after the merger in certain respects.
(2)		Although the Predecessor and Successor results are not comparable by definition in certain respects due to the merger and the resulting revaluation, for ease of comparison, the financial data for the period after the merger, February 25, 2005 through December 31, 2005 (Successor period), has been added to the financial data for the period from January 1, 2005 through February 24, 2005 (Predecessor period), to arrive at the combined twelve months ended December 31, 2005. As a result of the merger, interest expense, loss on early retirement of debt, merger related charges, stock compensation expense, long-term incentive compensation, depreciation and amortization have been impacted.
(3)		Other primarily includes the Company’s general and administrative costs.

The following tables reconcile specialty hospital same store information.

		Three Months Ended
		December 31, 2004				December 31, 2005
Specialty hospitals net operating revenue		$	281,594			$	341,037
Less: Specialty hospitals opened, acquired or closed after 1/1/04			8,658				53,920
Specialty hospitals same store net operating revenue		$	272,936			$	287,117
Specialty hospitals Adjusted EBITDA		$	61,215			$	72,149
Less: Specialty hospitals opened, acquired or closed after 1/1/04			(2,200	)			7,744
Specialty hospitals same store Adjusted EBITDA		$	63,415			$	64,405
All specialty hospitals Adjusted EBITDA margin			21.7	%			21.2	%
Specialty hospitals same store Adjusted EBITDA margin			23.2	%			22.4	%

		Twelve Months Ended
		December 31, 2004				December 31, 2005
Specialty hospitals net operating revenue		$	1,089,538			$	1,370,320
Less: Specialty hospitals opened, acquired or closed after 1/1/04			30,754				218,837
Specialty hospitals same store net operating revenue		$	1,058,784			$	1,151,483
Specialty hospitals Adjusted EBITDA		$	236,181			$	307,339
Less: Specialty hospitals opened, acquired or closed after 1/1/04			(4,591	)			34,095
Specialty hospitals same store Adjusted EBITDA		$	240,772			$	273,244
All specialty hospitals Adjusted EBITDA margin			21.7	%			22.4	%
Specialty hospitals same store Adjusted EBITDA margin			22.7	%			23.7	%

VII. Discontinued Operations Income Statement
(In thousands)
(unaudited)
For the Three and Twelve Months Ended December 31, 2005 and 2004

The following table summarizes the income statement information relating to our discontinued operations of our skilled nursing facility sold on September 27, 2004 and CBIL sold on March 1, 2006.

		Predecessor (1)					Successor (1)				Predecessor (1)									Successor (1)				Combined (2)
		For the Three Months
		Ended December 31
															Period from					Period from
											For the Twelve				January 1					February 25				For the Twelve
											Months Ended				through					through				Months Ended
											December 31,				February 24,					December 31,				December 31,
		2004					2005				2004				2005					2005				2005
Net operating revenues		$	15,797				$	18,459			$	69,699			$	10,051				$	60,161			$	70,212
Costs and expenses:
Cost of services			13,156					15,098				57,425				8,295					48,397				56,692
Bad debt expense			182					205				1,023				73					386				459
Depreciation and amortization			258					350				961				244					1,138				1,382
Income from discontinued operations			2,201					2,806				10,290				1,439					10,240				11,679
Other expense			286					434				1,096				267					1,092				1,359
Interest expense (income)			91					(452	)			335				83					(224	)			(141	)
Income from discontinued operations before minority interests and income taxes			1,824					2,824				8,859				1,089					9,372				10,461
Minority interests			139					257				840				139					1,242				1,381
Income from discontinued operations before income taxes			1,685					2,567				8,019				950					8,130				9,080
Income tax expense			716					2,862				3,561				428					5,058				5,486
Income (loss) from discontinued operations, net of tax		$	969				$	(295	)		$	4,458			$	522				$	3,072			$	3,594

(1)		On February 24, 2005, Select Medical Corporation (the “Company”) merged with a subsidiary of Select Medical Holdings Corporation (“Holdings”) and became a wholly-owned subsidiary of Holdings. The Company’s financial position and results of operations prior to the merger are presented separately in the consolidated financial statements as “Predecessor” financial statements, while the financial position and results of operations following the merger are presented as “Successor” financial statements. Due to the revaluation of assets as a result of purchase accounting associated with the merger, the pre-merger financial statements are not comparable with those after the merger in certain respects.
(2)		Although the Predecessor and Successor results are not comparable by definition in certain respects due to the merger and the resulting revaluation, for ease of comparison, the financial data for the period after the merger, February 25, 2005 through December 31, 2005 (Successor period), has been added to the financial data for the period from January 1, 2005 through February 24, 2005 (Predecessor period), to arrive at the combined year ended December 31, 2005. As a result of the merger, interest expense, loss on early retirement of debt, merger related charges, stock compensation expense, long-term incentive compensation, depreciation and amortization have been impacted.