OPTION TO TENDER NASSAU HEALTH CARE CORPORATION BONDS, SERIES 2004A (NASSAU COUNTY GUARANTEED) (TAXABLE AUCTION RATE)
TO NASSAU HEALTH CARE CORPORATION
Cusip: 63167N AA4
The Nassau Health Care Corporation (the “Issuer”) hereby gives notice of its intent to purchase, at par, a significant portion of the outstanding bonds referenced above (the “Bonds”) if tendered on Tuesday, April 29, 2008.
Existing holders of the Bonds must indicate their willingness to tender Bonds for purchase by Monday, April 28, 2008, 3:00 P.M. Eastern Standard Time by contacting Bear, Stearns & Co., Inc. at the following address: 383 Madison Avenue, 14th Floor, New York, New York 10079, Attention: Short-Term Marketing Desk, 212-272-4930.
In the event the amount of Bonds tendered for purchase by the Issuer exceeds funds available to purchase the Bonds, such Bonds will be purchased pro-rata based on the extent of funds available to so purchase such Bonds.
In addition, the Issuer anticipates redeeming approximately $34 million of Bonds in May and is currently in the process of structuring a conversion of the remaining Bonds to a variable rate mode in June. Further information in connection therewith will be provided prior to the next auction of such Bonds.