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HOSPITAL STAFFING SERVICES ANNOUNCES SETTLEMENT OF ARBITRATION AWARD

 FORT LAUDERDALE, Fla., June 3 /PRNewswire/ -- Hospital Staffing Services, Inc. (NYSE: HSS) announced that it has entered into settlement agreement with Alliance Home Care Management Services regarding the payment of an arbitration award. Under the terms of the agreement, Hospital Staffing Services will pay Alliance $1,708,000 to settle the matter, which related to the company's termination of a contract between Alliance and the company.
 In arbitration, Alliance was originally awarded $1,732,000. The entire amount of the award was accrued as of Nov. 30, 1992. The company had previously filed a motion in federal court to vacate the arbitration award, which was denied. Prior to reaching the settlement, the company was considering an appeal of the denial. The settlement was facilitated by an amendment to the Loan Modification and Extension Agreement that the company recently entered into with its bank. The amendment allows Hospital Staffing Services to immediately fund the amount of the settlement payment.
 Hospital Staffing Services, Inc. is a leading professional home health care services and recruitment organization. The company specializes in the provision of nursing services to patients at home and in health care institutions through a national network of home health care offices, and in the placement of medical personnel, on a temporary and interim basis, in hospitals and other health care facilities located throughout the United States, the United Kingdom and the Virgin Islands.
 -0- 6/3/93
 /CONTACT: Mary Fanizzi of Hospital Staffing Services, 305-771-0500; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Hospital Staffing Services/
 (HSS)


CO: Hospital Staffing Services, Inc.; Alliance Home Care Management
 Services ST: Florida IN: HEA SU:


AW-DF -- FL008 -- 4952 06/03/93 11:46 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
Words:283
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