SFCC Sfbc (MM)

Company Expects to Record Impairment Charge Related to Its Miami Operations SFBC International, Inc. (NASDAQ:SFCC), a provider of drug development services to branded pharmaceutical, biotechnology, generic drug and medical device companies, announced today that it is postponing its conference call and Webcast to review its fourth quarter and full year 2005 results and plans to host the call at 8:30 a.m. EST on Thursday, March 9, 2006. In addition, the Company plans to release its financial results for the fourth quarter and full year 2005 on Wednesday, March 8, 2006, after the market closes. Jeffrey P. McMullen, chief executive officer of SFBC International, commented: "We are diligently working with our national valuation firm to complete the assessment of a substantial non-cash impairment charge that we expect to record in the fourth quarter of 2005 related to the significant decline in business at our Miami operations. In addition, our business review of operations is continuing and we believe it is prudent to withdraw our existing 2006 guidance, as issued on December 15, 2005. We anticipate that we will provide an update on the impairment charge and 2006 guidance in conjunction with the release of our full year 2005 financial results next week." Conference Call and Webcast Information SFBC plans to host a conference call and Webcast to review its fourth quarter and full year 2005 results at 8:30 a.m. Eastern Standard Time on Thursday, March 9, 2006. To access the conference call, please dial the following teleconference number (877) 691-0878 (U.S.) or (973) 582-2773 (International) or, to listen to the simultaneous Webcast, please visit http://www.sfbci.com. For those unable to access the live call, there will be an audio replay available from March 9, 2006 at approximately 11:00 a.m. Eastern Time through March 17, 2006 at 11:59 p.m. Eastern Standard Time. To listen to the audio replay, please dial (877) 519-4471 (U.S.) or (973) 341-3080 (International) and use the following replay pin code: 7081622. A replay of the Webcast will be available at http://www.sfbci.com approximately two hours after the live call ends through April 8, 2006 at 11:59 p.m. Eastern Time. About SFBC International, Inc. SFBC International, Inc. is an international drug development services company offering a comprehensive range of clinical development, clinical and bioanalytical laboratory, and consulting services to the branded pharmaceutical, biotechnology, generic drug and medical device industries. SFBC has more than 35 offices, facilities and laboratories with approximately 2,500 employees strategically located throughout the world. For more information, visit SFBC's website at http://www.sfbci.com. Forward-Looking Statements The statements made in this press release relating to the determination of and the amount of the impairment charge and the completion of the Miami business review are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, facts discovered and conclusions reached in the Miami business review, whether adverse publicity relating to SFBC's Miami operations causes clients to select competitors, not only for early stage branded clinical trials but also for aspects of SFBC's business, SFBC's ability to resolve open issues relating to its Miami property including the pending lease litigation as well as the structural, building code and other regulatory issues affecting the property, continued adverse publicity related to actions of the United States Senate Finance Committee, developments with respect to the SEC's inquiry, SFBC's ability to successfully achieve and manage the technical requirements of specialized clinical trial services, while complying with applicable rules and regulations; the Miami subsidiary's continued ability to recruit participants for clinical trials; regulatory changes; changes affecting the clinical research industry; a reduction of outsourcing by pharmaceutical and biotechnology companies; SFBC's ability to compete internationally in attracting clients in order to develop additional business; cancellation of contracts; SFBC's clients' ability to provide the drugs and medical devices used in its clinical trials; and the national and international economic climate as it affects drug development operations. Further information can be found in SFBC's risk factors contained in the Form S-3 filed with the SEC in 2005 and other filings with the Securities and Exchange Commission.