PMC Pharmerica Corp. (delisted)

PMC Commercial Trust Announces Approval of Merger DALLAS, Jan. 9 /PRNewswire-FirstCall/ -- PMC Commercial Trust ("PMC Commercial") announced today the results of its reconvened Annual Meeting held January 9, 2004. Shareholders of PMC Commercial, among other things, approved the Agreement and Plan of Merger between PMC Commercial and PMC Capital Inc. ("PMC Capital") providing for the merger of PMC Capital into PMC Commercial. Completion of the merger remains subject to regulatory approvals and customary closing conditions. In addition to the approval of the Agreement and Plan of Merger, PMC Commercial's shareholders ratified the selection of PricewaterhouseCoopers LLP to serve as the company's independent public accountants for the year ending December 31, 2003, re-elected each of the current members of the board of trust managers until the next annual meeting of shareholders and approved two amendments to the company's declaration of trust. Dr. Andrew S. Rosemore, Chairman of the Board of PMC Commercial, commented, "We are pleased that our shareholders have approved the merger with PMC Capital, and we will continue to work to consummate the merger." Subject to conditions to closing, PMC Commercial is working to complete the merger during the first quarter of 2004 but in no event, later than February 29, 2004. PMC Commercial Trust is a REIT that originates loans to small businesses secured by real estate and owns various hospitality properties. Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "expects", "anticipates", "will" or words of similar import. Similarly, statements that describe the Company's future plans, objectives or goals are also forward- looking statements. Such forward-looking statements can be subject to certain risks and uncertainties, including the financial performance of the Company, real estate conditions and market valuations of its stock, which could cause actual results to differ materially from those currently anticipated. Although the Company believes the expectations reflected in any forward- looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. DATASOURCE: PMC Commercial Trust CONTACT: Investor Relations of PMC Commercial Trust, +1-972-349-3235

Copyright