USON US Oncology (MM)

US Oncology Announces Receipt of Requisite Consents and Extends Tender Offer and Consent Solicitation for Its 9-5/8% Senior Subordinated Notes Due 2012 HOUSTON, June 14 /PRNewswire-FirstCall/ -- US Oncology, Inc. ("US Oncology") (NASDAQ:USON) announced today that, as of 5:00 p.m., New York City time, on June 11, 2004, it had received tenders of notes and related consents from holders of more than a majority of the $175 million outstanding principal amount of its 9-5/8% Senior Subordinated Notes due 2012, pursuant to its previously announced tender offer and consent solicitation. As a result, US Oncology has received the consents necessary to enter into a supplemental indenture to implement the proposed amendments to the indenture governing the notes, which include the elimination of substantially all of the restrictive covenants in such indenture. Tenders of notes and related consents to the proposed amendments may no longer be withdrawn or revoked. US Oncology also announced that it is extending the tender offer expiration date and consent expiration date (although, it is not extending the withdrawal date) with respect to the tender offer and consent solicitation. The tender offer, which was to have expired at 5:00 p.m., New York City time, on Wednesday, July 7, 2004, will be extended to 5:00 p.m., New York City time, on Friday, July 16, 2004, unless further extended by US Oncology. The consent expiration date, which was to have expired at 5:00 p.m., New York City time, on Friday, June 11, 2004, will also be extended to 5:00 p.m., New York City time, on Friday, July 16, 2004, unless further extended by US Oncology. The last day that holders of notes could have withdrawn tendered notes and revoked delivered consents was as of 5:00 p.m., New York City time, on June 11, 2004. Any subsequent tenders of notes and deliveries of consents may not be withdrawn or revoked. The tender offer and consent solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement dated May 21, 2004, and a related Consent and Letter of Transmittal, which more fully set forth the terms and conditions of the tender offer and consent solicitation. Among other conditions discussed below, the tender offer is conditioned upon the completion of US Oncology's proposed merger with an affiliate of Welsh, Carson, Anderson & Stowe IX, L.P. The merger remains subject to certain customary conditions, including the approval by a majority of US Oncology's stockholders and approval by holders of a majority of the outstanding shares of US Oncology's common stock not held by US Oncology Holdings, Inc., Oiler Acquisition Corp., Welsh, Carson, Anderson & Stowe IX, L.P., its co-investors or members of US Oncology's board or management that are expected to participate in the merger. The merger is expected to close in July 2004. In addition to the merger, the tender offer remains subject to certain additional customary conditions. If any of the conditions to the tender offer are not satisfied, US Oncology is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, and may even terminate the tender offer. Citigroup Global Markets Inc. is acting as the dealer manager and solicitation agent for the tender offer and consent solicitation. The depositary for the tender offer is Computershare Trust Company of New York. Questions regarding the tender offer and consent solicitation may be directed to Citigroup Global Markets Inc., telephone number (800) 558-3745 (toll free) and (212) 723-6106 (call collect). Requests for copies of the Offer to Purchase and Consent Solicitation Statement and related documents may be directed to Georgeson Shareholder Communications Inc., telephone number (800) 733-6231 (toll free) and (212) 440-9800 (call collect). This announcement is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of consents with respect to the notes nor is this announcement an offer or solicitation of an offer to sell new securities. The tender offer and consent solicitation are made solely by means of the Offer to Purchase and Consent Solicitation Statement and the related Consent and Letter of Transmittal. US Oncology, headquartered in Houston, Texas, is America's premier cancer- care services company. US Oncology supports the cancer care community by providing medical oncology services, cancer center services and cancer research services. Our network of over 890 affiliated physicians provides care to patients in over 470 locations, including 80 outpatient cancer centers with 45 licensed pharmacies, across 32 states. In providing our services, we operate 106 linear accelerators, 56 Computerized Tomography (CT) units and 24 Positron Emission Tomography (PET) systems. We estimate that in 2003 our affiliated physicians provided care to approximately 500,000 patients, including approximately 190,000 new patients. This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions, and those detailed from time-to-time in the US Oncology's filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine US Oncology's future results are beyond the ability of US Oncology to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. In particular, the merger transaction is subject to risks and uncertainties, including the possibility that the merger may not occur due to the failure of US Oncology to obtain stockholder approval, the failure of the parties to satisfy the conditions in the merger agreement, such as the inability of US Oncology Holdings, Inc. to obtain financing, or the occurrence of events that would have a material adverse effect on US Oncology as described in the merger agreement. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. US Oncology undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All references to "US Oncology," "we," or "our" as used throughout this document refer to US Oncology, Inc. and its subsidiaries. DATASOURCE: US Oncology, Inc. CONTACT: Steve Sievert of US Oncology, Inc., +1-832-601-6193 Web site: http://www.usoncology.com/

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