SMBI Symbion (MM)

Symbion, Inc. (NASDAQ/NM:SMBI), an owner and operator of surgery centers, announced its preliminary assessment of the Company's three facilities located in Louisiana following Hurricane Katrina. At present, Symbion has very limited information on the extent of the damage to its Greater New Orleans Surgery Center, located in the New Orleans suburb of Metairie, but anticipates that it will be closed indefinitely as the necessary steps are taken to stabilize the area. The Company also announced that its St. Luke's Surgery Center, located in Hammond, approximately 60 miles northwest of New Orleans, and Physicians Surgical Specialty Hospital, located in Houma, approximately 50 miles southwest of New Orleans, both appeared to have sustained minor damages and are expected to reopen by mid-month and become fully operational by the end of September. The Company is unable to estimate the full extent of the damage to its facilities, in particular the Metairie facility, or the financial impact to Symbion from Hurricane Katrina. Based on the Company's previously announced revenue guidance for 2005 of $260 to $266 million, Symbion's three Louisiana facilities were expected to generate approximately 8% of the Company's total revenues in 2005 (with the Metairie facility accounting for less than 1% of this total). The Company believes that it is adequately insured for property damage and business interruption losses. In commenting on the announcement, Richard E. Francis, Jr., chairman and chief executive officer of Symbion, said, "Our thoughts are with our employees, their families and the people so severely affected by this catastrophic event and the thousands of volunteers assisting in stabilizing the area. As information becomes known about our facilities, we will provide updates of any material developments." Symbion, Inc., headquartered in Nashville, Tennessee, owns and operates a network of surgery centers in 22 states. The Company's surgery centers provide non-emergency surgical procedures across many specialties. This press release contains forward-looking statements based on management's current expectations and projections about future events and trends that they believe may affect the Company's financial condition, results of operations, business strategy and financial needs. The words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "plan," "will" and similar expressions are generally intended to identify forward-looking statements. These statements have been included in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties and other factors that may cause actual results to differ from the expectations expressed in the statements. Many of these factors are beyond the ability of the Company to control or predict. These factors include, without limitation: (i) the time and resources necessary to assess and repair the damage to the Company's facilities caused by Hurricane Katrina; (ii) the impact of Hurricane Katrina on the Company's financial position and operations, (iii) the expected insurance coverage with respect to property damage and business interruption; and (iv) other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking statements contained in this press release, you should not place undue reliance on them. The Company undertakes no obligation to update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.