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AIR METHODS CORP. SECURES MULTIYEAR $2 MILLION OPERATING LINE-OF-CREDIT AND RELATED TERM LOAN ARRANGEMENT

 AIR METHODS CORP. SECURES MULTIYEAR $2 MILLION
 OPERATING LINE-OF-CREDIT AND RELATED TERM LOAN ARRANGEMENT
 DENVER, Nov. 5 /PRNewswire/ -- Air Methods Corp. (AMEX: ARF.EC) today announced its securing of a multiyear $2 million operating line-of-credit and related term loan facility from a third party. The terms of this combined operating line-of-credit and term loan arrangement will allow the company to utilize this credit arrangement to augment is anticipated intermediate term growth needs.
 Air Methods posted record revenues for its recently completed 1992 fiscal year of $19.2 million, sustaining a 25 percent annualized compounded revenue growth rate experienced since 1988. The company's expansion continues to outpace the overall U.S. aeromedical industry growth rate, as well as that of its largest significant aeromedical competitors.
 The terms of this multiyear credit facility afford the company a $2 million operating line-of-credit throughout 1992 and 1993, with the outstanding balances periodically convertible into a discrete series of fixed rate, three-year term notes, subject to the company performing certain operating covenants required in this arrangement. These notes each bear interest at the prime commercial bank lending rate in effect as each portion of the line-of-credit converts into a three-year term loan. No equity securities, options or warrants were provided by the company in connection with its obtaining of this financial arrangement.
 Air Methods also reported today its favorable restructuring of the interest rates charged by Bell Helicopter Inc. and its affiliate, Textron Financial Services, relating to the company's long-term debt. In this connection, the company announced the lowering of the average variable interest rates associated with its $9.8 million of long-term debt from 12.5 percent to 9.9 percent, guaranteed for the life of the entire debt which matures in 2001. Again, no equity securities, options or warrants were provided by the company in connection with its obtainment of this interest expense reduction arrangement.
 W. Terrance Schreier, chairman and chief executive officer, noted, "The benefits of these two financial developments will allow the company to continue to decrease the overall level of its relative cost of capital and, at the same time, gain access to additional expansion capital to propel its continued growth. We are also pleased that these financial arrangements announced today will allow the company to operate more profitably as it continues its growth within the aeromedical industry."
 Air Methods Corp. is the largest exclusive provider of state-of- the-art emergency air medical transportation systems and services to hospitals throughout the United States. Air Methods now serves 43 hospitals in 12 states under 19 dedicated long-term operating agreements. The company utilizes only IFR-certified pilots including 28 helicopters and five airplanes to perform these services. In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 11/5/92
 /CONTACT: W. Terrance Schreier, chairman and CEO, Roy L. Morgan, president, or William H. Critchfield, executive VP and CFO, of Air Methods, 303-790-0587/
 (ARF) CO: Air Methods Corp. ST: California IN: AIR HEA SU:


JL-KJ -- DV005 -- 2823 11/05/92 08:04 EST
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Publication:PR Newswire
Date:Nov 5, 1992
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