World Health Alternatives, Inc. Secures $42.5 Million Financing from CapitalSource Finance LLC; Proceeds to Fund Growth and Provide Working Capital

Business Wire, Feb 14, 2005

PITTSBURGH -- $35 Million Revolver and $7.5 Million Term Loan Facility

World Health Alternatives, Inc. (OTCBB: WHAI), a premier medical staffing company that provides medical, professional, and administrative staffing services to the healthcare industry, announced today that it has secured a $42.5 million financing transaction with CapitalSource Finance LLC ("CapitalSource"), of Chevy Chase, Maryland. The financing consists of a revolving credit facility up to a maximum of $35 million and a term loan facility for $7.5 million.

Richard McDonald, President of World Health Alternatives, said, "We arranged this financing with CapitalSource to refinance our existing indebtedness, which resulted from the substantial growth we experienced through our string of acquisitions over the last 14 months. In addition, we will utilize this facility for working capital and other general corporate needs. In light of our expansion, this debt should be easily serviceable from our revenues, and it improves our overall capital structure. We believe that this facility provides the flexibility needed for us to grow our revenues to over half a billion dollars within the next two years through organic growth and acquisitions."

Raj Singh, Managing Director at Raymond James & Associates, Inc., investment bankers for World Health, said, "This financing was a result of a very competitive process involving several interested financing sources. The high level of interest that World Health generated contributed to its ability to obtain this financing."

Tom Scott, World Health's Vice President of Finance, said, "This size and type of credit is evidence of what the Company has been able to accomplish over the past 14 months and shows the comfort level a major financing institution has with our organization and control procedures. CapitalSource's in-depth knowledge of the healthcare industry and its capital needs, coupled with their flexibility in structuring a deal that met the unique needs of the Company, made them the right financing partner for this transaction. Initially, the Company only intends to access approximately 35% of the facility."

Keith Reuben, Managing Director of the Healthcare Finance Group at CapitalSource, added, "We are extremely pleased to have assisted World Health in closing this $42.5 million credit facility. We are delighted that they chose CapitalSource for their financing needs and have confidence in this management team's ability to position World Health as a leading provider of staffing services to the healthcare industry."

World Health Alternatives, Inc. (OTC BB: WHAI) is a premier human resource firm offering specialized healthcare personnel for staffing and consulting needs in the healthcare industry. The Company places its experienced personnel on a project, temporary, permanent, or temporary-to-permanent basis. These options allow clients to control the expenses associated with new staff while also giving them the unique opportunity to evaluate a candidate's performance essentially risk-free. The Company is headquartered in Pittsburgh, PA, and provides services from locations in Birmingham, AL, Mobile, AL, Citrus Heights, CA, Boca Raton, FL, Sanford, FL, Atlanta, GA, Danvers, MA, Morrisville, NC, Portsmouth, NH, Nashua, NH, Cincinnati, OH, Cleveland, OH, Portland, OR, Murray, UT, Bellevue, WA, and Seattle, WA. Additional information about World Health can be found at the Company's website at www.whstaff.com.

CapitalSource is a specialized commercial finance company offering asset-based, senior, cash flow and mezzanine financing to small and mid-sized borrowers through three focused lending groups: Corporate Finance, Healthcare Finance and Structured Finance. By offering a broad array of financial products, CapitalSource has issued more than $5.4 billion in loan commitments. Headquartered in Chevy Chase, MD, CapitalSource has a national network of offices in Atlanta, Boston, Buffalo, Chicago, Columbus, Dallas, Hartford, Los Angeles, Nashville, New York, Philadelphia, St. Louis and San Francisco. CapitalSource has more than 380 employees. More information is available at www.capitalsource.com or toll free at (866) 876-8723.

This press release contains forward-looking statements. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "can," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include: (a) whether the Company will successfully acquire existing staffing companies to grow its staffing business; (b) whether the Company will have adequate financing to expand the business; (c) whether the Company will effectively manage its expanding operations, which will place significant demands on its managerial, financial and informational systems; (d) competition among medical staffing companies for clients and qualified nurses and other healthcare professionals and personnel; (e) the Company's ability to locate and fill staffing orders; (f) whether general economic conditions and the regulatory environment will be favorable to the growth of the Company's business, including its vertical integration; (g) the Company's ability to grow organically; (h) whether the company will achieve its expected revenues in 2005; (i) whether the Company utilizes the credit from the financing transaction with CapitalSource (the "financing transaction") for working capital and other general corporate needs; (j) whether the debt from the financing transaction will be easily serviceable from the Company's revenues; (k) whether the financing transaction will improve the Company's overall capital structure; (l) whether the financing transaction provides the flexibility needed for the Company to grow its revenues to over half a billion dollars within the next two years through organic growth and acquisitions; (m) whether the Company will grow its revenues to over half a billion dollars within the next two year; (n) whether the Company accesses only 35% of the credit facility; and (o) other factors set forth in the Company's periodic reports and Form SB-2 Registration Statement filed with the Securities and Exchange Commission which may be reviewed by accessing the SEC's EDGAR system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.