DASCO COMPANIES breaks ground on Edinburg Regional Medical Plaza I; signs contract for Edinburg Regional Medical Plaza II.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--May 20, 1996--DASCO COMPANIES' President Bruce A. Rendina announces the ground breaking of Edinburg Regional Medical Plaza I and the signing of a project development agreement for a second building on the site of the new campus for Edinburg Regional Medical Center in Edinburg, Texas.

The ground breaking ceremony for the first 50,000 square foot, two-story medical office building will be held at the building site at the southeast corner of Trenton and Sugar Roads on Wednesday, May 22, 1996 at 11:30 a.m. Edinburg Regional Medical Plaza I is scheduled to open in early 1997. It will be connected to the hospital via a covered walkway and will include a pharmacy on the first floor.

"The hospital and medical office buildings will be strategically located in Edinburg, north of McAllen, in one of the fastest growing regions in Texas," said Rendina. "The medical facilities will serve Edinburg, North McAllen and surrounding areas in the south Texas Rio Grande Valley."

Edinburg Hospital has been serving the area for over 68 years with a 112-bed facility. The current acute care facility is staffed with over 150 physicians representing more than 25 medical specialties. The Hospital has purchased approximately 60 acres of land for the construction of a hospital that will replace the current facility.

The new acute care hospital slated to open in mid-1997, will feature 124 beds on a 60-acre campus and two medical office buildings. Universal Health Services Inc. has selected DASCO to establish a joint venture program with staff physicians to develop two medical office buildings on the campus. DASCO will provide all financing and development from start to finish.

"The medical office buildings will provide state-of-the-art facilities for our staff physicians," according to Leon Belila, CEO of Edinburg Hospital. "Due to the incredible rate of growth in our area, quality medical office space is already in great demand. To have the opportunity to accommodate our physicians on a brand new hospital campus is very exciting."

Founded in 1985, DASCO COMPANIES is the nation's largest full-service, medical real estate development and management company according to an April 1996 report published by Modern Healthcare magazine. With national headquarters in West Palm Beach and regional offices in San Diego, Dallas, Las Vegas, Philadelphia and Boston, DASCO has attracted the industry's top professionals to its development team. Through its team approach, DASCO has developed a reputation among health care providers for offering innovative development programs producing cost effective, high quality, outpatient and medical office facilities.

CONTACT: DASCO COMPANIES, West Palm Beach

Steven L. Torrance, Vice President

or Karen Jost, Director

800/231-1430

or

Christopher M. Bowen, Vice President

800/452-8121

KEYWEST: FLORIDA TEXAS

INDUSTRY KEYWORD: MEDICINE REAL ESTATE REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or

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