KING OF PRUSSIA, Pa., Oct. 24 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today it has signed a purchase agreement to acquire the 96-bed Rancho Springs Medical Center in Murrieta, California from Tenet Healthcare Corp. (NYSE: THC). UHS currently operates the 80-bed Inland Valley Regional Medical Center in Wildomar, California. The two hospitals are approximately four miles apart and serve the rapidly growing population in southern Riverside County. The population of the service area is approximately 72,000 and is expected to grow at an annual rate of approximately 3.5% through 2004. Revenues of Rancho Springs are approximately $40 million. The transaction, which is subject to normal regulatory approvals, is expected to be completed in December 2000.

For some time, the two hospitals have worked to service the needs of the rapidly growing population. Many employees are familiar with both hospitals and are accustomed to working together. By being jointly owned, the hospitals will be better able to afford the investment in new services needed to serve the communities' expanding health care needs. UHS opened Inland Valley in January 1987 and Rancho Springs opened in February 1992 as Sharp Healthcare before its purchase by Tenet in 1998. Both hospitals are general acute care hospitals accredited by the Joint Commission for the Accreditation of Healthcare Organizations.

Universal Health Services, Inc. is the nation's third largest hospital management company and operates facilities nationwide including medical, surgical, and behavioral health hospitals and ambulatory surgery and radiation therapy centers. UHS acts as advisor to Universal Health Realty Income Trust (NYSE: UHT), a real estate investment trust.

Certain statements in this release may constitute forward-looking statements and are subject to various risks and uncertainties as discussed in the Company's filings with the Securities and Exchange Commission. The Company is not obligated to update these forward-looking statements even if the Company's assessment of these risks and uncertainties changes.

For additional information on the Company, visit its web site: http//www.uhsinc.com. SOURCE Universal Health Services, Inc.

CONTACT: Kirk E. Gorman, Chief Financial Officer of Universal Health Services, 610-768-3300/