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/(pE . '.¿ INFORMÞ.TI ON IS ACCURATE TO THEIR BEST KNOWLEDGE, INFORMÞ.TION AND BELIEF. THE FACTUAL INFORMATION REGARDING THE DEBTOR, INCLUDING THE ASSETS AND LIABILITIES OF THE DEBTOR HÀVE BEEN DERIVED FRa-! NUMEROUS SOURCES, INCLUDING, BU'l' NOT LIMI'I'ED TO DEBTOR'S SCHEDULES, DCCUME:NT S SPECIFICALLY IDENTIFIED HEREIN AND BOOKS AND RECORDS OF THE DEBTOR. THE APPROVAL BY THE BANKRUPTCY COUR'I' OF THE DISCLOSURE: STATEMEN'l' DOES NOT CONSTIT'UTE AN ENDORSEMENT BY THE BANKRUPTCY COUR'I' OF THE PLAN OR A GUARANTY OF THE .~--~ ACCURACY AND CCffilLETENESS OF THE INFORMATION CONTAINED 'HEREIN. THE SECURITIES AND EXCHANGE COMMISSION HAS NE I 1'HER APPROVED NOR DISAPPROVED 1'HE INFORMÞ.TION CONTAINED IN THE DISCLOSURE STATEMENT. THE COMMISSION HAS ALSO NOT PASSED UPON 11Œ ACCURACY OR ÀDEQUACY OF 1'HE STATEMENTS CONTAINED HEREIN. .' NE I 1'HER HEM.1'HVEST OR ITS COUNSEL CAN ;oj ARRANT OR REPRESENT 1'HA T 11Œ INFOR.>1ATION CONTAINED IN THIS DISCLOSURE STATEMENT IS WITHOUT INACCURACY. NE I THER - HEM.1'HVES T OR ITS COUNSEL HAVE VERIFIED 1'HE INFOR.>1AT I ON CONTAINED IN THIS DISCLOSURE STATEMENT, ALTHOUGH THEY DO NOT HAVE ACTUAL KNOWLEDGE OF />NY INACCURACIES. i IV. INFORMATION CONC~~ING THE DEBTOR A. Historical Backqround I:iealthcare is the successor corporation to the Brown Schools, Inc. (the "Brown Schools") which was founded in 1940. The Brown Schools was founded for the purpose of caring for the severely mentally handicapped in private settings. Through the years, the Brown Schools I primary focus evolved from serving the mentally retarded and developmentally disabled to treatment of patients with psychiatric illnesses and the specialized rehabilitation of patients with head injuries. , In August, 1979, the Brown Schools formed Healthcare International to develop and operate new health care facilities in communities identified as having additional health care delivery needs. In February, 1982, Healthcare International actually acquired the Brown Schools and became the parent organization. Healthcare was privately held until October. 1985, when Healthcare completed its initial public offering of common stock, making Healthcare International a publicly held company. In 1989, the Brown Schools and Healthcare created a new company named Healthcare Brown Management, Inc. ("Brown Management") of which each company owns 80~ and 20~, respectively. Brown Management is the parent company of The Brown Schools of San Marcos, Inc., the Debtor. - 4 - a-ZOISS