Select Medical Corporation Announces Exercise of Over-Allotment Option

Apr 24, 2001, 01:00 ET from Select Medical Corporation

    MECHANICSBURG, Pa., April 24 /PRNewswire Interactive News Release/ --
 Select Medical Corporation (Nasdaq:   SLMC) has announced that underwriters for
 its public offering of 9,000,000 shares of common stock have exercised in full
 an over-allotment option to purchase an additional 1,350,000 shares of common
 stock.
     The offering was priced on April 4, 2001 at $9.50 per share, resulting in
 gross proceeds of approximately $85,500,000.  Select at the same time granted
 the underwriters a 30-day option to purchase up to an additional 1,350,000
 shares of common stock to cover over-allotments.  Gross proceeds including the
 exercise of the over-allotment option will be approximately $98,325,000.
     Merrill Lynch & Co. and J.P. Morgan were the co-lead underwriters for the
 offering.  Credit Suisse First Boston, CIBC World Markets, SG Cowen and First
 Union Securities, Inc. acted as co-managers for the offering.  Copies of the
 prospectus relating to the offering may be obtained from the offices of
 Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080,
 212/449-1000.
     Select Medical Corporation is the second largest operator of long term
 acute care hospitals in the United States based on the number of its
 hospitals.  As of December 31, 2000, Select operated 54 specialty acute care
 hospitals in 19 states.  Select is also the second largest operator of
 outpatient rehabilitation clinics in the United States based on the number of
 its clinics.  As of December 31, 2000, Select operated 679 outpatient
 rehabilitation clinics in the United States and Canada.
 
     This news release is not an offer to sell, or the solicitation of an offer
 to buy, any of the securities under the offering.  There shall not be any sale
 of these securities in any state in which such offer, sale or solicitation
 would be unlawful prior to registration or qualification under the securities
 laws of any such state.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X13212264
 
 

SOURCE Select Medical Corporation
    MECHANICSBURG, Pa., April 24 /PRNewswire Interactive News Release/ --
 Select Medical Corporation (Nasdaq:   SLMC) has announced that underwriters for
 its public offering of 9,000,000 shares of common stock have exercised in full
 an over-allotment option to purchase an additional 1,350,000 shares of common
 stock.
     The offering was priced on April 4, 2001 at $9.50 per share, resulting in
 gross proceeds of approximately $85,500,000.  Select at the same time granted
 the underwriters a 30-day option to purchase up to an additional 1,350,000
 shares of common stock to cover over-allotments.  Gross proceeds including the
 exercise of the over-allotment option will be approximately $98,325,000.
     Merrill Lynch & Co. and J.P. Morgan were the co-lead underwriters for the
 offering.  Credit Suisse First Boston, CIBC World Markets, SG Cowen and First
 Union Securities, Inc. acted as co-managers for the offering.  Copies of the
 prospectus relating to the offering may be obtained from the offices of
 Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080,
 212/449-1000.
     Select Medical Corporation is the second largest operator of long term
 acute care hospitals in the United States based on the number of its
 hospitals.  As of December 31, 2000, Select operated 54 specialty acute care
 hospitals in 19 states.  Select is also the second largest operator of
 outpatient rehabilitation clinics in the United States based on the number of
 its clinics.  As of December 31, 2000, Select operated 679 outpatient
 rehabilitation clinics in the United States and Canada.
 
     This news release is not an offer to sell, or the solicitation of an offer
 to buy, any of the securities under the offering.  There shall not be any sale
 of these securities in any state in which such offer, sale or solicitation
 would be unlawful prior to registration or qualification under the securities
 laws of any such state.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X13212264
 
 SOURCE  Select Medical Corporation