GEN Acquisition Receives Consent in Connection with Tender Offer for Genesis HealthCare's (GHCI) Subordinated Notes

June 21, 2007 10:59 AM EDT

GEN Acquisition Corp. announced that in connection with its previously announced cash tender offers and consent solicitations it had received, as of midnight, New York City time, on June 20, 2007, tenders and consents from holders of over 99.5% of the outstanding principal amount of the 8% Senior Subordinated Notes due 2013 and tenders and consents from holders of over 99.9% of the outstanding principal amount of the 2.5% Convertible Senior Subordinated Debentures due 2025, issued by Genesis HealthCare Corporation (Nasdaq: GHCI).

In accordance with the terms of the Tender Offer Documents, tendered Notes may no longer be withdrawn and delivered consents may no longer be revoked, unless the tender offers are terminated without any Notes being purchased or GEN Acquisition is required by law to permit withdrawal or revocation.

GEN Acquisition reserves the right to terminate, withdraw or amend the tender offers and consent solicitations at any time, subject to applicable law. GEN Acquisition has retained UBS Investment Bank to act as Dealer Manager in connection with the tender offers and consent solicitations.

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