Vanguard Health Systems, Inc. Invites You to Join Its 2004 First Quarter Earnings Conference Call Webcast NASHVILLE, Tenn., Oct. 27 /PRNewswire-FirstCall/ -- In conjunction with Vanguard Health Systems, Inc.'s First Quarter 2004 earnings press release, you are invited to listen to its conference call that will be broadcast live over the Internet on November 11, 2003 at 10:00 am Eastern time with senior management of Vanguard discussing the operating results. (Logo: http://www.newscom.com/cgi-bin/prnh/20011105/CHM002LOGO ) WHAT: Vanguard Health Systems, Inc.'s 2004 First Quarter Earnings Conference Call on the Web WHEN: Tuesday, November 11, 2003 10:00 am Eastern time WHERE: http://www.vanguardhealth.com/ or http://www.firstcallevents.com/service/ajwz391096975gf12.html HOW: Live over the Internet -- Simply log on to the web at one of the addresses above. If you connect through http://www.vanguardhealth.com/, select "First Quarter Webcast" from the home page. CONTACT: Aaron Broad, Investor Relations, at (615) 665-6131 or Vanguard Health Systems, Inc. will release its 2004 first quarter operating results on Monday, November 10, 2003, after 4:00 pm Eastern Time. The Company's earnings press release will be posted under the "Latest News" link on the Investor Relations page of the Company's web site http://www.vanguardhealth.com/ Vanguard Health Systems, located in Nashville, TN, through its subsidiaries, owns and operates sixteen acute care hospitals and numerous related health care services in four metropolitan areas: Phoenix, Ariz.; Orange County/Los Angeles, Calif.; Chicago, Ill.; and San Antonio, Texas. If you are unable to participate during the live Webcast, the call will be archived on our Web site http://www.vanguardhealth.com/ . To access the replay, click on the First Quarter Webcast on our home page or on the "Latest News" link on the Investor Relations page of our Web site. (Minimum Requirements to listen to broadcast: The WindowsMedia Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/EN/default.asp and at least a 28.8Kbps connection to the Internet. If you experience problems listening to the broadcast, send an email to .) http://www.newscom.com/cgi-bin/prnh/20011105/CHM002LOGO http://photoarchive.ap.org/ DATASOURCE: Vanguard Health Systems, Inc. CONTACT: Aaron Broad in Investor Relations of Vanguard Health Systems, Inc., +1-615-665-6131, or Web site: http://www.vanguardhealth.com/

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