MIAMI, Jan. 27, 2009 (GLOBE NEWSWIRE) -- ER Urgent Care Holdings, Inc. (Pink Sheets:ERUC) today provided an update on developments in its United States Bankruptcy Court proceedings. On October 21, 2008, ER Urgent Care Holdings, Inc. filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court, Southern District of Florida, Miami Division (the "Court") (Case No. 08-25688-BKC-LMI). On October 31, 2008, ER Urgent Care Management Co., Inc. filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code with the Court (Case No. 08-26530-BKC-LMI). The cases are being jointly administered for procedural purposes. On January 8, 2009, the Court entered an Order appointing Alan L. Goldberg as Chapter 11 Trustee (the "Trustee") in each of the debtors' bankruptcy cases. Presently, the Trustee is in the process of obtaining information about the debtors in order to provide a detailed status report to the Court, and its creditors. In the meantime, however, the Trustee believes it prudent to notify the public and any investors that:
-- All Company operations have ceased.
-- The Company is or has been the subject of investigation by certain
state agencies, including securities investigations, in at least
the following three states: Florida, Michigan and Missouri.
-- The Company is not conducting any type of previously described
Preferred Stock Exchange Program, and any prior offers concerning
such a program have been terminated.
-- Any trading in the Company's securities should be done with extreme
caution and a realization that adequate current information
concerning the Company is not publicly available.
-- The Trustee intends to attempt to sell the Company's remaining
assets as a means to maximize a recovery to its creditors.
SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward looking with the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements and other forward-looking statements are not guarantees of future performance and involve risks and uncertainties.