Laidlaw's healthcare operations consist of American Medical Response and EmCare. American Medical Response is the largest provider of emergency and non-emergency ambulance services in the U.S. with estimated fiscal 1999 revenue of $1 billion. EmCare is a leading U.S. provider of physician practice management services in hospital emergency departments with estimated fiscal 1999 revenue of $475 million.

Laidlaw is the largest bus company in North America and has significant opportunities for further growth. With the company's current stock price providing little or no recognition of the substantial underlying value of its healthcare businesses, the company believes shareholder value will be better served by proactively taking steps to realize value for those businesses and dedicating the company's resources to enhancing its intercity, school and municipal bus operations.

As a result of this changed strategy, effective with the reporting of its fiscal year ended August 31, 1999, the company will reflect results from its ambulance and emergency department management services as discontinued operations held for divestiture. Sales of the healthcare businesses and the interest in Safety-Kleen are expected to take place over the next six to twelve months and realize net proceeds in excess of $2 billion. These funds will be used to substantially reduce the company's debt and support the growth of Laidlaw's core bus transportation businesses.

Commenting on the new strategy, Laidlaw's president & CEO, James R. Bullock, said, ``Obviously, the past year in the U.S. healthcare industry has been extremely difficult for all participants, including Laidlaw. Although the restructuring of American Medical Response, which began in early spring, is taking hold and will deliver improving results, we do not believe AMR and EmCare have been or will be attributed appropriate value as part of Laidlaw's business portfolio.''

``Selling these assets will unlock value not presently reflected in our share price, dramatically improve our balance sheet and provide us with the liquidity for expansion opportunities in our bus businesses. The Laidlaw story will be greatly simplified as we focus on expanding our position as North America's largest provider of specialty bus services.''

Laidlaw is North America's largest provider of school busing, intercity and municipal transit, patient transportation and emergency department management services.