Abano revises forecast to May 31 2004

Media Release
Abano revises forecast to 31 May 2004

Listed healthcare and medical services provider, Abano Healthcare Group Limited, today provided market guidance for the Group’s consolidated results for the year ended 31 May 2004.

Following continued soft referral trends into March this year in both the Aged Care and Rehabilitation sectors, operating performance in these businesses is expected to be lower than the previous financial year.

The Dental sector is projected to perform slightly below plan, although results will be higher than the previous financial year. The Diagnostic sector is expected to perform to plan.

Therefore, the Company advises that Group revenue is forecast to be at the lower end of previous guidance given to the market in January 2004 of $65 to $67 million. Consolidated core EBITDA is now expected to be below last year’s core result and this will deliver a small loss for the full year at core NPAT, after a full period of tax expense is incurred.