SOURCE: MultiPlan

August 19, 2010 16:26 ET

MultiPlan, Inc. and Viant Holdings, Inc. Announce Extension of Tender Offers for Their 10 3/8% Senior Subordinated Notes Due 2016 and 10 1/8% Senior Subordinated Notes Due 2017

NEW YORK, NY--(Marketwire - August 19, 2010) -  MultiPlan, Inc. ("MultiPlan") and Viant Holdings, Inc. ("Viant," and together with MultiPlan, the "Companies") announced today the extension of their previously announced tender offers (together, the "Offers") for MultiPlan's 10⅜% Senior Subordinated Notes due 2016 (the "MultiPlan Notes") and Viant's 10⅛% Senior Subordinated Notes due 2017 (the "Viant Notes" and, together with the MultiPlan Notes, the "Notes"). The Offers, which had been scheduled to expire at 8:00 a.m., New York City time, on August 25, 2010, have been extended until 8:00 a.m., New York City time, on August 26, 2010 (the "Expiration Date").

As of today, $211.0 million (100.0%) in aggregate principal amount of the MultiPlan Notes and $184.4 million (99.7%) in aggregate principal amount of the Viant Notes have been tendered. Assuming all conditions to the Offers are satisfied or waived, the Companies expect the payment date for the Offers to be on or about August 26, 2010, on which date the Companies will accept for purchase all Notes tendered. Holders of such Notes will receive accrued and unpaid interest on the Notes up to, but not including, the payment date.

The complete terms and conditions of the Offers are described in each of the Offers to Purchase and Consent Solicitation Statements (the "Offers to Purchase"), copies of which may be obtained by contacting Global Bondholder Services Corporation, the information agent for the Offers, at (866) 407-3900 (U.S. toll-free). BofA Merrill Lynch is the exclusive dealer manager and solicitation agent for the Offers. Additional information concerning the Offers may be obtained by contacting BofA Merrill Lynch, Debt Advisory Services, at (980) 388-9217 (collect) or (888) 292-0070 (U.S. toll-free).

This press release does not constitute an offer to purchase the Notes or a solicitation of consents to amend the related indentures. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Offers are being made solely pursuant to the Offers to Purchase and related transmittal documents.

About MultiPlan

MultiPlan, Inc. is the industry's most comprehensive provider of healthcare cost management solutions. The company provides over 2,300 clients with a single gateway to a host of primary, complementary and out-of-network strategies for managing the financial risks associated with healthcare claims. Clients include large and mid-sized insurers, third party administrators, self-funded plans, HMOs and other entities that pay claims on behalf of health plans. For more information, visit www.multiplan.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to the Offers and any financing related thereto, growth, expected levels of expenditures and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, the satisfaction of conditions to the Offers, the ability to obtain financing on terms satisfactory to MultiPlan and Viant, as applicable, and resulting in the receipt by MultiPlan and Viant, as applicable, of proceeds in an amount sufficient finance the Offers, and those risks and uncertainties described in "Risk factors" included in our annual and quarterly financial reports. A copy of all annual and quarterly reports, current reports material to holders, the indentures and any current amendment or supplement to the Offers to Purchase and Consent Solicitation Statements may be obtained from the Information Agent, Global Bondholder Services Corporation, at (866) 470-3900 (toll-free) or (212) 430-3774 (banks and brokers).

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