Bright Horizons Family Solutions Reports First Quarter Financial Results

Bright Horizons Family Solutions, Inc. (NASDAQ: BFAM) today announced financial results for the first quarter ended March 31, 2008.

Revenue for the first quarter of 2008 increased to $199.8 million from $190.1 million for the same quarter last year. During the first quarter, the Company recorded $5.6 million in expenses directly related to the Company's previously announced merger agreement to be acquired by an affiliate of Bain Capital Partners, LLC (the "acquisition-related expenses"). As a result, net income and fully diluted earnings per share for the first quarter of 2008 were $6.6 million and $0.24 respectively, as compared to $11.2 million and $0.42 respectively in the first quarter of 2007. Excluding the costs associated with the pending acquisition, first quarter net income was $12.1 million resulting in earnings per diluted share of $0.45.

Bright Horizons added 15 new centers in the first quarter of 2008, including the nine Lipton Corporate Child Care Centers acquired in January and new centers for Alexian Brothers Medical Center and American Express. The Company also opened two new consortium centers in London during the quarter and, as of March 31, 2008, operated 654 early education and family centers with the capacity to serve 72,000 children and families.

During the quarter Bright Horizons was pleased to be named as one of FORTUNE magazine's "100 Best Companies to Work For" for the ninth time, and is one of the Financial Times' "50 Best Workplaces" in the UK and one of the "50 Best Companies to Work For" in Ireland. The company was also recently recognized as one of "The 2008 DiversityInc Top 50 Companies for Diversity."

Due to the pending special meeting of stockholders scheduled for May 7, 2008 regarding the previously announced agreement and plan of merger providing for the acquisition of Bright Horizons by an affiliate of Bain Capital Partners, LLC, the Company will not host a conference call or webcast regarding its first quarter 2008 results.

Bright Horizons Family Solutions is the world's leading provider of employer-sponsored child care, early education and work/life consulting services, managing more than 600 early care and family centers in the United States, the United Kingdom, Ireland and Canada. Bright Horizons serves more than 700 clients, including more than 95 FORTUNE 500 companies and 75 of the "100 Best Companies" as recognized by Working Mother magazine. Bright Horizons is one of FORTUNE magazine's "100 Best Companies to Work For."

This press release contains forward-looking statements which involve a number of risks and uncertainties. Bright Horizons Family Solutions' actual results may vary significantly from the results anticipated in these forward-looking statements as a result of certain factors. These include the ability of the Company to 1) close on its previously announced merger agreement to be acquired by an affiliate of Bain Capital Partners, LLC., 2) execute contracts relating to new commitments, 3) enroll families in new as well as existing centers, and 4) open new centers and integrate acquisitions, as well as other factors that are discussed in detail in the Company's filings with the Securities and Exchange Commission.