Milberg LLP and Motley Rice LLC announce the proposed settlement of a securities class action lawsuit against Select Medical Corporation and certain of its executive officers and directors during the class period for $5 million in cash

Business Wire, Jan 16, 2009

NEW YORK -- In the United States District Court for the Eastern District of Pennsylvania, in Marsden v. Select Medical Corp., et al., Civil Action No. 04-cv-4020, a summary notice has been issued as follows:

Summary Notice of Pendency of Class Action, Proposed Settlement and Settlement Hearing

To: all persons who purchased the securities of Select Medical Corporation between July 29, 2003 and May 11, 2004, inclusive, and who were damaged thereby (the "Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that a settlement for $5,000,000 (Five Million U.S. Dollars) in cash has been proposed in the above-captioned Action. A hearing will be held before the Honorable J. Curtis Joyner in the James A. Byrne United States Courthouse, 601 Market Street, Philadelphia, PA 19106-1797, at 3:00 p.m., on April 14, 2009 to determine whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the application of Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees and Settlement Fairness Hearing and a Proof of Claim form, you may obtain copies of these documents by contacting the Claims Administrator:

Select Medical Corporation Securities Litigation
c/o Gilardi & Co. LLC
Claims Administrator
Post Office Box 990
Corte Madera, CA 94976-0990
(877) 581-3299
www.gilardi.com/SelectMedical

Inquiries, other than requests for the forms of Notice and Proof of Claim, may be made to Plaintiffs' Co-Lead Counsel:

Sanford P. Dumain
Milberg LLP
One Pennsylvania Plaza
New York, NY 10119-0165
Telephone: (212) 594-5300
William H. Narwold
Motley Rice LLC
One Corporate Center
20 Church Street, 17th Floor
Hartford, CT 06103
Telephone: (860) 882-1681

To participate in the Settlement, you must submit a Proof of Claim no later than May 14, 2009. If you are a Class Member and do not exclude yourself from the Class, you will be bound by the Order and Final Judgment of the Court. To exclude yourself from the Class, you must submit a request for exclusion postmarked no later than March 19, 2009. Any objections to the Settlement must be filed by March 19, 2009. If you are a Class Member and do not submit a proper Proof of Claim, you will not share in the Settlement but you nevertheless will be bound by the Order and Final Judgment of the Court.

Further information may be obtained by contacting the Claims Administrator.

By Order of the United States District Court for the Eastern District of Pennsylvania