Date: Thu, 18 Dec 1997 15:03:37 GMT Server: Apache/1.2.0 Connection: close Content-Type: text/html TRC THIRD QUARTER 1996

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PRESS RELEASE

FOR FURTHER INFORMATION, PLEASE CONTACT:
AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD
VICTOR M.G. CHALTIEL, CEO
OR JOHN E. KING, CFO
AT (310) 792-2600
DANIEL SAKS, GENERAL INFORMATION
MOIRA CONLON, INVESTOR CONTACT
STEVEN SEILER, MEDIA CONTACT
AT (310) 442-0599
KATHY BRUNSON, INVESTOR CONTACT
AT (312) 266-7800

TOTAL RENAL CARE REPORTS NET
REVENUES UP 96%

AND EARNINGS (BEFORE EXTRAORDINARY ITEM) UP l63% FOR THIRD QUARTER, 1996

Earnings Per Share at 25 cents, Up 56% on 70% More Shares Outstanding

Third Quarter/Recent Highlights:

TORRANCE, Calif., October 25, 1996 -- Continuing the disciplined execution of its aggressive growth strategy, Total Renal Care Holdings, Inc. (NYSE:TRL) today announced another record for revenues, earnings (before extraordinary item), and earnings per share for the quarter and nine months ended September 30, 1996. All figures are restated to reflect a change in the Company's fiscal year-end to December 31 from May 31.

Revenues increased 96% to $73.3 million in the third quarter of 1996 from $37.4 in the corresponding period of 1995. Earnings (before extraordinary item) increased 163% to $6.5 million from $2.5 million, and earnings per share increased 56% to $0.25 from $0.16 on 70% more shares outstanding. During the third quarter of 1996, Total Renal Care retired the remaining $65 million outstanding of Discount Notes at maturity incurring a $7.7 million extraordinary charge (net of taxes).

"Since June 30, 1996, we have continued to execute our aggressive, disciplined growth strategy by adding 15 centers, 230 dialysis stations and over 1,700 patients since July 1, 1996, for a current total of 9,700 patients," said Victor M.G. Chaltiel, TRL Chairman, President and Chief Executive Officer, " In addition, we have signed letters of intent to acquire five more facilities for a total of 300 patients. Moreover, the company has entered into a number of additional managed care contracts for a current total of 111, including contracts with Aetna and Maxicare in the New Orleans area to service virtually all of their local ESRD patients."

Revenues increased 101% to $188.2 million in the first nine months of 1996, from $93.5 million in the corresponding period of 1995. Earnings (before extraordinary item) increased 207% to $16.5 million from $5.4 million and earnings per share increased 80% to $0.65 from $0.35 on 65% more shares outstanding.

On October 17, 1996, Total Renal Care significantly increased its borrowing capacity to fund its aggressive, disciplined growth strategy by replacing its existing $130 million bank facility with a new seven-year $400 million revolving credit facility arranged by The Bank of New York and Donaldson, Lufkin & Jenrette, Inc. The current interest rate on this facility is 6.125%.

Based in Torrance, Calif., Total Renal Care Holdings, Inc., is the third largest provider of integrated dialysis services in the U.S. for patients suffering from chronic kidney failure. The Company owns and operates high-quality, free-standing kidney dialysis centers and home peritoneal dialysis programs in 16 states, Washington, DC, and Guam, and also provides high-quality acute hemodialysis services to inpatients on behalf of 82 hospitals. TRL has increased its number of outpatient dialysis facilities to 127 with 1,855 stations and provides services to more than 9,700 patients. The Company additionally operates ESRD laboratory and pharmacy facilities, as well as vascular access management and transplant services programs.

For information on Total Renal Care Holdings, Inc., via facsimile at no cost, call 1-800-PRO-INFO and dial company code 039.

(Financial Tables to follow)