FAQ'S

On November 15, 2006 (the "Petition Date"), Victory Memorial Hospital ("Victory Hospital"), Victory Memorial Ambulance Services, Inc. ("Victory Ambulance") and Victory Memorial Pharmacy, Inc. ("Victory Pharmacy", together with Victory Hospital and Victory Ambulance, the "Debtors") each filed a voluntary petition (the "Victory Memorial Cases") for relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (as amended, the "Bankruptcy Code").

The questions and answers that follow provide general information concerning the Victory Memorial Cases, the Official Committee of Unsecured Creditors of Victory Memorial Hospital, et al. (the "Committee"), and various topics related to the Victory Memorial Cases and the Committee.

What is the Committee?

Pursuant to the Bankruptcy Code, the U.S. Trustee is authorized to appoint a committee of creditors holding unsecured claims as soon as practicable after the filing of a case. Generally, a creditors' committee is a group of general unsecured creditors appointed to represent, in a fiduciary capacity, the interests of all general unsecured creditors. In such role, creditors' committees act to protect and promote the interests of general unsecured creditors by, among other things, monitoring a debtor's business operations, investigating its business and financial affairs, and negotiating the terms of a plan of reorganization. The overarching goal of a creditors' committees is to maximize value for general unsecured creditors.

In accordance with this authority, on November 28, 2006, the U.S. Trustee appointed the Committee.

What is the Committee's role in the Victory Memorial Cases?

Pursuant to the Bankruptcy Code, the Committee may: (1) consult with the trustee or debtor in possession concerning the administration of the cases; (2) investigate the acts, conduct, assets, liabilities, and financial condition of the debtor, the operation or the debtor's business and the desirability of the continuance of such business, and any other matter relevant to the case or to the formulation of a plan; (3) participate in the formulation of a plan, advise those represented by such committee of such committee's determinations as to any plan formulated, and collect and file with the court acceptances or rejections of a plan; (4) request the appointment of a trustee of examiner under section 1104 of the Bankruptcy Code; and (5) perform such other services as are in the interest of those represented.

Who represents the Committee?

The Committee retained Alston & Bird LLP to act as its counsel. The Committee has also retained Weiser LLP as its financial advisors.

Who is the U.S. Trustee?

The U.S. Trustee for the Victory Memorial Cases is Diana G. Adams. The Trial Attorney assigned to the Victory Memorial Cases is Brian Hufnagel.

What role does the U.S. Trustee Play?

The U.S. Trustee Program is a component of the Department of Justice responsible for overseeing the administration of bankruptcy cases. For further details on the U.S. Trustee's role, please visit the web page for the U.S. Trustee at www.usdoj.gov/ust/r02/index.htm.

Does the Committee represent individual creditors?

No. The Committee represents the interests of all unsecured creditors through oversight of and negotiations with the Debtors. Neither the Committee nor its counsel represent individual creditors that may have claims in the Victory Memorial Cases.

What is the deadline for filing proofs of claims?

The United States Bankruptcy Court for the Eastern District of New York has entered an Order establishing July 20, 2007 at 5:00 p.m. (Eastern Time) as the last date (also known as the "bar date") for filing proofs of claim in the Victory Memorial cases.

Do I need to file a proof of claim?

If you believe that you or an entity you represent has a claim arising prior to November 15, 2006 against the one or more of the Debtors, you may wish to file a proof of claim to protect your rights. You should consult your own counsel in deciding whether to file a claim in the Victory Memorial Cases.

Have the Debtors filed any chapter 11 plan(s) or disclosure statement(s)?

No, the Debtors have not yet filed any chapter 11 plan(s) or disclosure statement(s).

How long will the Victory Memorial Cases take?

There is no specific time estimate for the Victory Memorial Cases. Bankruptcy cases, such as these, can take several months (and in some cases years) to complete.

How do I get a response to a specific question?

Please email your question to victorycommittee@alston.com

Who is the judge presiding over the Victory Memorial Cases?

The Victory Memorial Cases were assigned to the Honorable Carla E. Craig, United States Bankruptcy Judge for the Eastern District of New York.