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Universal Health Services, Inc. Reports 2008 Second Quarter Results, Raises 2008 Full Year Guidance
Consolidated Results of Operations:
KING OF PRUSSIA, Pa., July 28, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its net income was $54.2 million, or $1.07 per diluted share, during the second quarter ended June 30, 2008, representing a 35% increase over the adjusted net income per diluted share earned during the second quarter of 2007, as discussed below. Net income was $115.9 million, or $2.27 per diluted share, during the six-month period ended June 30, 2008, representing a 34% increase over the adjusted net income per diluted share earned during six-month period ended June 30, 2007.

Reported net income was $52.1 million, or $.97 per diluted share, during the three-month period ended June 30, 2007 and $101.6 million, or $1.89 per diluted share, during the six-month period ended June 30, 2007. After adjusting our 2007 results for the item mentioned below, and other less material items as indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule"), our adjusted net income was $42.7 million, or $.79 per diluted share, during the second quarter of 2007 and $90.6 million, or $1.69 per diluted share, during the six-month period ended June 30, 2007. As indicated on the Supplemental Schedules, included in our net income during the three and six-month periods ended June 30, 2007, was $10.0 million, or $.19 per diluted share, representing the prior year impact of a favorable after-tax adjustment to reduce our professional and general liability self-insurance reserves based upon the results of an actuarial analysis.

Net revenues increased 8% to $1.28 billion during the second quarter of 2008 as compared to $1.18 billion during the second quarter of 2007. Net revenues increased 8% to $2.58 billion during the six-month period ended June 30, 2008 as compared to $2.38 billion during the six-month period ended June 30, 2007.

Acute Care Services:

At our acute care hospitals owned during both periods ("same facility basis"), inpatient admissions increased 0.8% and patient days increased 1.3% during the second quarter of 2008 as compared to the second quarter of 2007. On a same facility basis, net revenues at our acute care facilities increased 7.6% during the second quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted admission at these facilities increased 7.0% during the second quarter of 2008 over the comparable prior year quarter. On a same facility basis, the operating margin (net revenues less salaries, wages and benefits, other operating expenses, supplies expense and provision for doubtful accounts) at our acute care hospitals increased to 14.6% during the second quarter of 2008 as compared to 12.7% during the second quarter of 2007.

On a same facility basis, inpatient admissions at our acute care facilities increased 0.8% and patient days increased 1.7% during the six-month period ended June 30, 2008 as compared to the comparable period of the prior year. Net revenues at these facilities increased 7.1% during the six-month period ended June 30, 2008 as compared to the comparable prior year period. Net revenue per adjusted admission at these facilities increased 6.0% during the six-month period ended June 30, 2008 over the comparable prior year period. On a same facility basis, the operating margin at our acute care hospitals increased to 15.9% during the first six months of 2008 as compared to 14.1% during the comparable six months of 2007.

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $143 million during each of the three-month periods ended June 30, 2008 and 2007 and $297 million and $270 million during the six-month periods ended June 30, 2008 and 2007, respectively.

Behavioral Health Care Services:

At our behavioral health facilities, on a same facility basis, inpatient admissions increased 8.5% and patient days increased 3.1% during the second quarter of 2008 as compared to the second quarter of 2007. On a same facility basis, net revenues at our behavioral health facilities increased 7.8% during the second quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted patient day at these facilities increased 5.1% during the second quarter of 2008 as compared to the comparable quarter of the prior year. The operating margin at our behavioral health facilities owned during both periods increased to 24.8% during the second quarter of 2008 as compared to 24.6% during the second quarter of 2007.

On a same facility basis, inpatient admissions increased 8.3% and patient days increased 4.7% during the first six months of 2008 over the comparable prior year period. On a same facility basis, net revenues at our behavioral health facilities increased 8.5% during the six-month period ended June 30, 2008 as compared to the comparable period of the prior year. Net revenue per adjusted patient day at these facilities increased 4.7% during the six-month period ended June 30, 2008 over the comparable period of the prior year. The operating margin at our behavioral health facilities owned during both periods increased to 24.3% during the first six months of 2008 as compared to 23.7% during the comparable period of the prior year.

2008 Revised Guidance:

Based upon the operating trends and financial results experienced during the first six months of 2008, and subject to certain assumptions, provisions and adjustments, including those as set forth below in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures, we are increasing our estimated range of earnings per diluted share from continuing operations for the year ended December 31, 2008 to $3.80 to $3.90 from the previously provided range of $3.70 to $3.80.

Conference Call Information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on July 29, 2008. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on July 29, 2008 and will continue through midnight on August 12, 2008. The recording can be accessed by calling 1-800-642-1687 and entering the conference ID number 55562550. This call will also be available live over the internet at our web site at http://www.uhsinc.com. It will also be distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at http://www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (http://www.streetevents.com).

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. is one of the nation's largest hospital companies, operating acute care and behavioral health hospitals and ambulatory centers nationwide and in Puerto Rico. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors in our Form 10-K for the year ended December 31, 2007 and in Item 2-Forward-Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended March 31, 2008), may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof. We undertake 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.

We believe that operating income, operating margin, adjusted income from continuing operations, adjusted income from continuing operations per diluted share, adjusted net income, adjusted net income per diluted share and earnings before interest, taxes, depreciation and amortization ("EBITDA"), which are non-GAAP financial measures ("GAAP" is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of items that are nonrecurring or non-operational in nature including items such as, but not limited to, gains on sales of assets and businesses, hurricane-related expenses and insurance recoveries, reserves for legal judgments, lawsuits and other settlements and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2007 and Report on Form 10-Q for the quarterly period ended March 31, 2008. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.

                                    (more)



                       Universal Health Services, Inc.
                      Consolidated Statements of Income
                   (in thousands, except per share amounts)
                                 (unaudited)

                                     Three months             Six months
                                    ended June 30,          ended June 30,
                                   2008        2007        2008        2007

    Net revenues               $1,278,692  $1,178,976  $2,576,407  $2,376,577

    Operating charges:
      Salaries, wages and
       benefits                   536,788     498,579   1,087,248   1,009,572
      Other operating expenses    263,173     238,093     515,668     483,445
      Supplies expense            176,567     169,246     358,384     344,604
      Provision for doubtful
       accounts                   122,677     103,039     243,552     202,132
      Depreciation and
       amortization                48,009      45,406      95,379      88,869
      Lease and rental expense     17,947      16,605      35,614      32,781
      Hurricane related
       expenses, net                  -         1,058         -           625
                                1,165,161   1,072,026   2,335,845   2,162,028

    Income before interest
     expense, minority
     interests and income
     taxes                        113,531     106,950     240,562     214,549


    Interest expense, net          13,249      13,040      26,728      25,762
    Minority interests in
     earnings of consolidated
     entities                      11,427       8,675      24,706      22,867

    Income before income taxes     88,855      85,235     189,128     165,920

    Provision for income taxes     34,615      33,193      73,225      64,306

    Income from continuing
     operations                    54,240      52,042     115,903     101,614

    Income (loss) from
     discontinued operations,
     net of income taxes              -            29         -           (35)


    Net income                    $54,240     $52,071    $115,903    $101,579


    Basic earnings per share:
      From continuing operations    $1.07       $0.97       $2.27       $1.90
      From discontinued
       operations                     -           -           -           -
        Total basic earnings
         per share                  $1.07       $0.97       $2.27       $1.90

    Diluted earnings per share:
      From continuing operations    $1.07       $0.97       $2.27       $1.89
      From discontinued
       operations                     -           -           -           -
        Total diluted earnings
         per share                  $1.07       $0.97       $2.27       $1.89


    Weighted average number
     of common shares              50,629      53,499      50,946      53,496
    Other share equivalents           181         229         127         211
    Weighted average number
     of common shares and
     equiv. - diluted              50,810      53,728      51,073      53,707



                       Universal Health Services, Inc.
     Schedule of Non-GAAP Supplemental Consolidated Statements of Income
                    Information ("Supplemental Schedule")
              For the three months ended June 30, 2008 and 2007
                   (in thousands, except per share amounts)
                                 (unaudited)

                                        Three months ended  Three months ended
                                          June 30, 2008       June 30, 2007


    Net revenues                        $1,278,692  100.0%  $1,178,976  100.0%

    Operating charges:
      Salaries, wages and benefits        536,788   42.0%     498,579   42.3%
      Other operating expenses            263,173   20.6%     238,093   20.2%
      Supplies expense                    176,567   13.8%     169,246   14.4%
      Provision for doubtful accounts     122,677    9.6%     103,039    8.7%
                                        1,099,205   86.0%   1,008,957   85.6%

    Operating income/margin               179,487   14.0%     170,019   14.4%

      Lease and rental expense             17,947              16,605
      Minority interests in earnings
       of consolidated entities            11,427               8,675

    Earnings before hurricane related
     expenses, depreciation and
     amortization, interest expense,
     and income taxes ("EBITDA")          150,113             144,739

      Hurricane related expenses, net         -                 1,058
      Depreciation and amortization        48,009              45,406
      Interest expense, net                13,249              13,040

    Income before income taxes             88,855              85,235

    Provision for income taxes             34,615              33,193

    Income from continuing operations      54,240              52,042

    Income from discontinued
     operations, net of income taxes          -                    29

    Net income                            $54,240             $52,071


                                       Three months ended Three months ended
                                           June 30, 2008     June 30, 2007
                                                     Per               Per
                                                   Diluted           Diluted
                                           Amount   Share    Amount   Share
    Calculation of Adjusted Income
     from Continuing Operations
    Income from continuing operations     $54,240   $1.07   $52,042   $0.97
    Plus/minus adjustments:
      Hurricane related expenses, net         -       -         652    0.01
      Reduction of reserve for
       professional and general
       liability self-insured claims,
       net of minority interests and
       income taxes                           -       -     (10,045)  (0.19)
    Subtotal after-tax adjustments to
     income from continuing operations        -       -      (9,393)  (0.18)
    Adjusted income from continuing
     operations                           $54,240   $1.07   $42,649   $0.79

    Calculation of Adjusted Net
     Income
    Net income                            $54,240   $1.07   $52,071   $0.97
    After-tax adjustments to income
     from continuing operations, as
     indicated above                          -       -      (9,393)  (0.18)
    Adjusted net income                   $54,240   $1.07   $42,678   $0.79



                       Universal Health Services, Inc.
     Schedule of Non-GAAP Supplemental Consolidated Statements of Income
                    Information ("Supplemental Schedule")
               For the six months ended June 30, 2008 and 2007
                   (in thousands, except per share amounts)
                                 (unaudited)

                                        Six months ended    Six months ended
                                          June 30, 2008       June 30, 2007


    Net revenues                       $2,576,407  100.0%  $2,376,577  100.0%

    Operating charges:
      Salaries, wages and benefits      1,087,248   42.2%   1,009,572   42.5%
      Other operating expenses            515,668   20.0%     483,445   20.3%
      Supplies expense                    358,384   13.9%     344,604   14.5%
      Provision for doubtful accounts     243,552    9.5%     202,132    8.5%
                                        2,204,852   85.6%   2,039,753   85.8%

    Operating income/margin               371,555   14.4%     336,824   14.2%

      Lease and rental expense             35,614              32,781
      Minority interests in earnings
       of consolidated entities            24,706              22,867

    Earnings before hurricane related
     expenses, depreciation and
     amortization, interest expense,
     and income taxes ("EBITDA")          311,235             281,176

      Hurricane related expenses, net         -                   625
      Depreciation and amortization        95,379              88,869
      Interest expense, net                26,728              25,762

    Income before income taxes            189,128             165,920

    Provision for income taxes             73,225              64,306

    Income from continuing operations     115,903             101,614

    Loss from discontinued operations,
     net of income taxes                      -                   (35)

    Net income                           $115,903            $101,579


                                         Six months ended Six months ended
                                           June 30, 2008    June 30, 2007
                                                     Per              Per
                                                   Diluted           Diluted
                                           Amount   Share    Amount   Share
    Calculation of Adjusted Income from
     Continuing Operations
    Income from continuing operations    $115,903   $2.27  $101,614   $1.89
    Plus/minus adjustments:
      Hurricane related expenses, net         -       -         386    0.01
      Gain on sale of real property, net
       of income taxes                        -       -      (1,356)  (0.02)
      Reduction of reserve for
       professional and general
       liability self-insured claims,
       net of minority interests and
       income taxes                           -       -     (10,045)  (0.19)
    Subtotal after-tax adjustments to
     income from continuing operations        -       -     (11,015)  (0.20)
    Adjusted income from continuing
     operations                          $115,903   $2.27   $90,599   $1.69

    Calculation of Adjusted Net Income
    Net income                           $115,903   $2.27  $101,579   $1.89
    After-tax adjustments to income
     from continuing operations, as
     indicated above                          -       -     (11,015)  (0.20)
    Adjusted net income                  $115,903   $2.27   $90,564   $1.69



                       Universal Health Services, Inc.
                    Condensed Consolidated Balance Sheets
                                (in thousands)
                                 (unaudited)

                                                  June 30,        December 31,
                                                     2008              2007

    Assets:
    Cash and cash equivalents                       $6,211           $16,354
    Accounts receivable, net                       710,065           627,186
    Other current assets                           127,712           131,307
    Property, plant and equipment, net           1,989,905         1,933,916
    Other assets                                   884,700           899,894
    Total Assets                                $3,718,593        $3,608,657

    Liabilities and Stockholders' Equity:
    Current portion of long-term debt               $2,814            $3,116
    Other current liabilities                      504,444           484,595
    Other noncurrent liabilities                   353,069           344,755
    Long-term debt                               1,050,491         1,008,786
    Deferred income taxes                           37,703            40,022
    Minority interests                             225,598           210,184
    Stockholders' equity                         1,544,474         1,517,199
    Total Liabilities and Stockholders'
     Equity                                     $3,718,593        $3,608,657



                       Universal Health Services, Inc.
                    Consolidated Statements of Cash Flows
                                (in thousands)
                                 (unaudited)

                                                          Six months
                                                         ended June 30,
                                                     2008              2007

    Cash Flows from Operating Activities:
      Net income                                   $115,903          $101,579
      Adjustments to reconcile net income
       to net cash provided by operating
       activities:
        Depreciation & amortization                  95,379            88,888
        Gain on sale of assets                          -              (2,200)
      Changes in assets & liabilities,
       net of effects from
       acquisitions and dispositions:
        Accounts receivable                         (73,912)          (36,291)
        Accrued interest                                811             9,260
        Accrued and deferred income taxes             3,288            (7,368)
        Other working capital accounts               18,331              (125)
        Other assets and deferred charges             6,854            (3,783)
        Other                                         5,410            (1,240)
        Minority interest in earnings of
         consolidated entities, net of
         distributions                               13,307             9,260
        Accrued insurance expense, net of
         commercial premiums paid                    38,743            23,395
        Payments made in settlement of
         self-insurance claims                      (25,648)          (22,399)
          Net cash provided by
           operating activities                     198,466           158,976

    Cash Flows from Investing Activities:
        Property and equipment additions,
         net of disposals                          (156,062)         (184,587)
        Proceeds received from sale of
         assets                                       2,235             5,268
        Settlement proceeds received
         related to prior year acquisition,
         net of expenses                              1,539               -
        Investment in joint-venture                  (2,095)              -
        Acquisition of assets and businesses            -             (81,195)
        Purchase of minority ownership
         interest in majority owned business            -             (14,762)
          Net cash used in investing
           activities                              (154,383)         (275,276)

    Cash Flows from Financing Activities:
        Additional borrowings, net of
         financing costs                            150,155           116,271
        Reduction of long-term debt                (109,727)              -
        Repurchase of common shares                 (89,816)           (3,341)
        Dividends paid                               (8,096)           (8,621)
        Issuance of common stock                      1,151             1,444
        Capital contributions from
         minority member                              2,107             8,271
          Net cash (used in) provided by
           financing activities                     (54,226)          114,024

    Decrease in cash and cash equivalents           (10,143)           (2,276)
    Cash and cash equivalents, beginning
     of period                                       16,354            14,939
    Cash and cash equivalents, end of period         $6,211           $12,663

    Supplemental Disclosures of Cash Flow
     Information:
      Interest paid                                 $29,335           $20,216

      Income taxes paid, net of refunds             $70,269           $71,410



                       Universal Health Services, Inc.
                     Supplemental Statistical Information
                                 (un-audited)

                                            % Change         % Change
                                         Quarter Ended    6 months ended
    Same Facility:                         06/30/2008       06/30/2008

    Acute Care Hospitals
    Revenues                                     7.6%             7.1%
    Adjusted Admissions                          0.6%             1.1%
    Adjusted Patient Days                        1.1%             2.0%
    Revenue Per Adjusted Admission               7.0%             6.0%
    Revenue Per Adjusted Patient Day             6.5%             5.1%


    Behavioral Health Hospitals

    Revenues                                     7.8%             8.5%
    Adjusted Admissions                          7.9%             7.2%
    Adjusted Patient Days                        2.5%             3.6%
    Revenue Per Adjusted Admission              -0.1%             1.2%
    Revenue Per Adjusted Patient Day             5.1%             4.7%



    UHS Consolidated            Second Quarter Ended      Six months Ended
                               06/30/2008  06/30/2007  06/30/2008  06/30/2007

    Revenues                   $1,278,692  $1,178,976  $2,576,407  $2,376,577
    EBITDA   (1)                  150,113     144,739     311,235     281,176
    EBITDA Margin (1)               11.7%       12.3%       12.1%       11.8%

    Cash Flow From Operations      66,790      60,000     198,466     158,976
    Days Sales Outstanding             51          50          50          49
    Capital Expenditures           74,311      85,238     156,062     184,587

    Debt                                                1,053,305     954,074
    Shareholders Equity                                 1,544,474   1,514,774
    Debt / Total Capitalization                             40.5%       38.6%
    Debt / EBITDA  (2)                                       1.95        1.97
    Debt / Cash From
     Operations  (2)                                         2.71        6.86


    Acute Care EBITDAR
     Margin  (3) (4)                14.3%       14.7%       15.3%       14.9%
    Behavioral Health EBITDAR
     Margin  (3) (4)                24.3%       25.2%       23.7%       23.8%


    (1)  Net of Minority Interest
    (2)  Latest 4 quarters
    (3)  Before Corporate overhead allocation and minority interest
    (4)  Excluding discontinued operations



                       UNIVERSAL HEALTH SERVICES, INC.
                         SELECTED HOSPITAL STATISTICS
                          FOR THE THREE MONTHS ENDED
                                JUNE 30, 2008

    AS REPORTED:

                                 ACUTE (1)             BEHAVIORAL HEALTH
                       06/30/08  06/30/07 % change  06/30/08 06/30/07 % change

    Hospitals owned
     and leased             23         22    4.5%         83       82    1.2%
    Average licensed
     beds                5,578      5,417    3.0%      7,668    7,258    5.6%
    Patient days       296,760    286,702    3.5%    530,769  501,482    5.8%
    Average daily
     census            3,261.1    3,150.6    3.5%    5,832.6  5,510.8    5.8%
    Occupancy-licensed
     beds                58.5%      58.2%    0.5%      76.1%    75.9%    0.2%
    Admissions          66,322     64,139    3.4%     32,560   29,707    9.6%
    Length of stay         4.5        4.5    0.1%       16.3     16.9   -3.4%

    Inpatient
     revenue        $2,353,566 $2,092,069   12.5%   $489,317 $452,963    8.0%
    Outpatient
     revenue           974,976    897,359    8.6%     65,335   59,443    9.9%
    Total patient
     revenue         3,328,542  2,989,428   11.3%    554,652  512,406    8.2%
    Other revenue       20,373     15,110   34.8%      9,893    6,632   49.2%
    Gross hospital
     revenue         3,348,915  3,004,538   11.5%    564,545  519,038    8.8%

    Total
     deductions      2,407,035  2,150,866   11.9%    247,229  232,185    6.5%

    Net hospital
     revenue          $941,880   $853,672   10.3%   $317,316 $286,853   10.6%


    SAME FACILITY:

                                 ACUTE (2)             BEHAVIORAL HEALTH (3)
                       06/30/08  06/30/07 % change  06/30/08 06/30/07 % change

    Hospitals owned
     and leased             22         22    0.0%         81       81    0.0%
    Average licensed
     beds                5,413      5,417   -0.1%      7,467    7,252    3.0%
    Patient days       290,481    286,714    1.3%    516,762  501,219    3.1%
    Average daily
     census            3,192.1    3,150.7    1.3%    5,678.7  5,507.9    3.1%
    Occupancy-licensed
     beds                59.0%      58.2%    1.4%      76.1%    76.0%    0.1%
    Admissions          64,657     64,139    0.8%     32,230   29,701    8.5%
    Length of stay         4.5        4.5    0.5%       16.0     16.9   -5.0%


    (1)  Acute care hospitals located in New Orleans are excluded in 2007 and
         2008.

    (2)  Acute care hospitals located in New Orleans and Centennial Hills
         Hospital are excluded in current and prior years.

    (3)  Casa de Lago, Cottonwood Treatment Center, Foundations Behavioral and
         Shenandoah Valley are excluded in current and prior years. Highlands
         Behavioral is included in both current and prior years from March 1st
         through year to date. Dover Behavioral is included in both current
         and prior years from May 1st through year to date.



                       UNIVERSAL HEALTH SERVICES, INC.
                         SELECTED HOSPITAL STATISTICS
                           FOR THE SIX MONTHS ENDED
                                JUNE 30, 2008

    AS REPORTED:

                                ACUTE (1)              BEHAVIORAL HEALTH
                       06/30/08 06/30/07 % change   06/30/08 06/30/07 % change

    Hospitals owned
     and leased             23        22    4.5%         83        75   10.7%
    Average licensed
     beds                5,578     5,417    3.0%      7,632     7,158    6.6%
    Patient days       617,355   595,876    3.6%  1,060,724   982,835    7.9%
    Average daily
     census            3,392.1   3,292.1    3.0%    5,828.2   5,430.0    7.3%
    Occupancy-licensed
     beds                60.8%     60.8%    0.1%      76.4%     75.9%    0.7%
    Admissions         136,833   132,905    3.0%     65,442    59,026   10.9%
    Length of stay         4.5       4.5    0.6%       16.2      16.7   -2.7%

    Inpatient
     revenue        $4,858,886  $4,363,208  11.4%   $978,050   $886,875  10.3%
    Outpatient
     revenue         1,930,131   1,765,490   9.3%    131,923    119,088  10.8%
    Total patient
     revenue        6,789,017    6,128,698  10.8%  1,109,973  1,005,963  10.3%
    Other revenue      39,505       29,561  33.6%     18,051     14,462  24.8%
    Gross hospital
     revenue        6,828,522    6,158,259  10.9%  1,128,024  1,020,425  10.5%

    Total
     deductions     4,915,635    4,411,722  11.4%    497,850    457,860   8.7%

    Net hospital
     revenue       $1,912,887   $1,746,537   9.5%   $630,174   $562,565  12.0%


    SAME FACILITY:

                                ACUTE (2)              BEHAVIORAL HEALTH (3)
                       06/30/08 06/30/07 % change   06/30/08 06/30/07 % change

    Hospitals owned
     and leased             22        22    0.0%         81        81    0.0%
    Average licensed
     beds                5,413     5,417   -0.1%      7,387     7,153    3.3%
    Patient days       605,933   595,870    1.7%  1,027,845   982,142    4.7%
    Average daily
     census            3,329.3   3,292.1    1.1%    5,647.5   5,426.2    4.1%
    Occupancy-licensed
     beds                61.5%     60.8%    1.2%      76.5%     75.9%    0.8%
    Admissions         133,987   132,905    0.8%     63,975    59,095    8.3%
    Length of stay         4.5       4.5    0.9%       16.1      16.6   -3.3%


    (1)  Acute care hospitals located in New Orleans are excluded in 2007 and
         2008.

    (2)  Acute care hospitals located in New Orleans and Centennial Hills
         Hospital are excluded in current and prior years.

    (3)  Casa de Lago, Cottonwood Treatment Center, Foundations Behavioral and
         Shenandoah Valley are excluded in current and prior years. Highlands
         Behavioral is included in both current and prior years from March 1st
         through year to date. Dover Behavioral is included in both current
         and prior years from May 1st through year to date.

SOURCE Universal Health Services, Inc.

http://www.uhsinc.com

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