Exhibit 99.1

FOR IMMEDIATE RELEASE

CONTACT:	Steve Filton
	Chief Financial Officer	February 26, 2009
	610-768-3300

UNIVERSAL HEALTH SERVICES, INC. REPORTS

SIGNIFICANT INCREASES IN 2008 FOURTH QUARTER AND FULL YEAR

EARNINGS FROM CONTINUING OPERATIONS PER DILUTED SHARE AND

REPORTS 2009 GUIDANCE

Consolidated Results of Operations:

KING OF PRUSSIA, PA – Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income was $46.5 million, or $.93 per diluted share, during the fourth quarter of 2008 as compared to $40.0 million, or $.75 per diluted share, during the comparable prior year quarter. Reported income from continuing operations was $40.5 million, or an increase of 8% to $.81 per diluted share, during the fourth quarter of 2008 as compared to $39.7 million, or $.75 per diluted share, during the comparable prior year quarter.

Reported net income was $199.4 million, or $3.93 per diluted share, during the year ended December 31, 2008 as compared to $170.4 million, or $3.18 per diluted share, during the comparable prior year. Reported income from continuing operations was $192.9 million, or an increase of 19% to $3.80 per diluted share, during the year ended December 31, 2008 as compared to $170.6 million, or $3.18 per diluted share, during the comparable prior year.

After adjusting for the items discussed below applicable to the periods presented, as indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedules”), during the fourth quarter of 2008 our adjusted income from continuing operations was $43.7 million, or an increase of 16% to $.87 per diluted share, as compared to $39.7 million, or $.75 per diluted share, during the comparable prior year quarter. Adjusted net income was $41.4 million, or $.82 per diluted share, during the fourth quarter of 2008 as compared to $40.0 million, or $.75 per diluted share, during the comparable prior year quarter.

During the year ended December 31, 2008, our adjusted income from continuing operations was $197.3 million, or an increase of 27% to $3.89 per diluted share, as compared to $164.4 million, or $3.07 per diluted share, during 2007. Adjusted net income was $195.5 million, or $3.85 per diluted share, during the year ended December 31, 2008 as compared to $164.2 million, or $3.07 per diluted share, during 2007.

Net revenues increased 5% to $1.24 billion during the fourth quarter of 2008 as compared to $1.18 billion during the fourth quarter of 2007. Net revenues increased 7% to $5.02 billion during the year ended December 31, 2008 as compared to $4.68 billion during 2007. Our consolidated operating margin, as calculated on the attached Supplemental Schedules (without adjusting for the various items mentioned below), was 12.6% and 13.0% during the three-month periods ended December 31, 2008 and 2007, respectively, and 13.4% and 13.2% during the years ended December 31, 2008 and 2007, respectively.

“In what is proving to be an increasingly difficult operating environment, we are extremely proud of our significantly improved financial results in 2008” said Alan B. Miller, President and Chief Executive Officer. “We believe that our diversified business mix strategy and conservative balance sheet positions us well to weather the economic challenges we all face.”

As indicated on the attached Supplemental Schedules, our income from continuing operations and net income for the three and twelve-month periods ended December 31, 2008 and 2007 include various items such as: (i) a $25 million pre-tax charge recorded during 2008 to establish a reserve in connection with the government’s investigation of our South Texas Health System affiliates (see Other Matters below); (ii) reductions to our professional and general liability self-insured claims expense recorded during 2008 (partial liquidation proceeds from PHICO’s estate as discussed in Other Matters below) and 2007 (based upon the results of a reserve analysis); (iii) gains realized during each year from the sales of certain businesses, real property and other investments; (iv) the prior period effect of the Texas Medicaid supplemental payments and cost reports settlements that were reserved for during 2007; (v) other items recorded during 2007 including reserve for legal judgment and lawsuit, the write-down of the carrying-value of investment in a joint-venture and favorable income tax adjustment to reduce reserves due to the expiration of statute of limitations in various tax jurisdictions.

Acute Care Services:

At our acute care hospitals owned during both periods (“same facility basis”), inpatient admissions decreased 0.4% and patient days increased 1.4% during the fourth quarter of 2008, as compared to the fourth quarter of 2007. On a same facility basis, net revenues at our acute care facilities increased 2.2% during the fourth quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted admission at these facilities increased 3.3% during the fourth quarter of 2008 over the comparable prior year quarter. The operating margin at our acute care hospitals owned during both periods increased to 13.9% during the fourth quarter of 2008 as compared to 13.6% during the fourth quarter of 2007.

On a same facility basis, inpatient admissions increased 0.1% and patient days increased 0.8% during the year ended December 31, 2008 as compared to the prior year. Net revenues at these facilities increased 4.8% during 2008 as compared to 2007. Net revenue per adjusted admission at these facilities increased 4.8% during the year ended December 31, 2008 over the prior year. The operating margin at our acute care hospitals owned during both years increased to 14.5% during 2008 as compared to 13.7% during 2007.

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $163 million and $140 million during the three-month periods ended December 31, 2008 and 2007, respectively, and $614 million and $562 million during the years ended December 31, 2008 and 2007, respectively.

Behavioral Health Care Services:

At our behavioral health facilities, on a same facility basis, inpatient admissions increased 0.7% and patient days decreased 0.2% during the fourth quarter of 2008 as compared to the fourth quarter of 2007. On a same facility basis, net revenues at our behavioral health facilities increased 4.0% during the fourth quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted patient day at these facilities increased 4.8% during the fourth quarter of 2008 over the comparable prior year quarter. The operating margin at our behavioral health facilities owned during both periods was 23.2% during the fourth quarter of 2008 as compared to 23.5% during the fourth quarter of 2007.

On a same facility basis, inpatient admissions increased 6.4% and patient days increased 3.2% during the year ended December 31, 2008 as compared to the prior year. On a same facility basis, net revenues at our behavioral health facilities increased 7.6% during 2008 as compared to 2007. Net revenue per adjusted patient day at these facilities increased 4.6% during 2008 over the prior year. The operating margin at our behavioral health facilities owned during both years was 23.9% during 2008 and 23.3% during 2007.

2009 Guidance:

During 2009, based upon current trends and subject to certain provisions and adjustments, including those as set forth below in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures, we estimate that we will achieve earnings per diluted share from continuing operations of approximately $4.00 to $4.15 on projected net revenues of $5.34 billion.

During 2009, we expect to spend approximately $350 million to $400 million on capital expenditures, including approximately $220 million related to expenditures for capital equipment, renovations, new projects at existing hospitals and completion of major construction projects in progress at December 31, 2008.

Other Matters:

South Texas Health System affiliates investigation:

As previously disclosed, since November, 2005, the government has been investigating our South Texas Health System affiliates. The investigation has been focused on certain arrangements which, the government believes, may have violated Medicare

and Medicaid rules and regulations pertaining to payments to physicians and the solicitation of patient referrals from physicians and other matters relating to payments to various individuals which may have constituted improper payments. We have been negotiating a possible settlement of this matter with the government and we expect to continue our discussions to attempt to resolve this matter in a manner satisfactory to us and the government. During 2008, we recorded a pre-tax charge of $25 million ($15 million of which was recorded during the fourth quarter of 2008) to establish a reserve in connection with this matter. However, there is no assurance that a settlement can be reached, and, should a settlement be reached, we are unable at this time to determine the ultimate settlement amount. Should we be unable to ultimately reach a settlement, we are unable at this time to determine the extent of the total financial and/or other exposure to us in connection with this matter.

PHICO estate liquidation:

For the years of 1998 through 2001, most of our subsidiaries were covered under commercial insurance policies with PHICO, a Pennsylvania based insurance company that was placed into liquidation in February, 2002. In January, 2009, a court order from the Commonwealth Court of Pennsylvania was executed in connection with the partial liquidation of the PHICO estate. As a result, during the fourth quarter of 2008, based upon our share of the undisputed and resolved claims made against the PHICO estate as of a specified date and as approved by the liquidator to the court, we recorded a $10 million reduction to our professional and general liability self-insured claims expense.

Divestitures of assets and businesses:

During the fourth quarter of 2008, we completed the sale of a 125-bed acute care hospital located in Lansdale, Pennsylvania. This transaction resulted in a pre-tax gain of approximately $13 million which is included in our financial results for the three and twelve-month periods ended December 31, 2008. In addition, included in our financial results for the twelve-month period ended December 31, 2008 is a combined pre-tax gain of $8 million from the sale of our ownership interest in a third-party provider of supply chain services, the sale our ownership interest in an outpatient surgery center and the sale of certain other real property assets.

Resignation of John F. Williams, M.D., Ed.D. from Our Board of Directors:

John F. Williams, M.D. has notified us that he intends to resign from our Board of Directors effective as of February 28, 2009. We thank Dr. Williams for his years of dedicated service to our Company and wish him well in his future endeavors.

Conference Call Information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on February 27, 2009. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on February 27, 2009 and will continue through midnight on March 13, 2009. The recording can be accessed by calling 1-800-642-1687 and entering the conference ID number 83016509. This call will also be available live over the internet at our web site at

www.uhsinc.com. It will also be distributed over CCBN’s Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN’s individual investor center at http://www.companyboardroom.com or by visiting any of the investor sites in CCBN’s Individual Investor Network. Institutional investors can access the call via CCBN’s password-protected event management site, StreetEvents (www.streetevents.com).

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. is one of the nation’s largest hospital companies, operating acute care and behavioral health hospitals and ambulatory centers nationwide and in Puerto Rico. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2008), may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management’s view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

We believe that operating income, operating margin, adjusted income from continuing operations, adjusted income from continuing operations per diluted share, adjusted net income, adjusted net income per diluted share and earnings before interest, taxes, depreciation and amortization (“EBITDA”), which are non-GAAP financial measures (“GAAP” is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of items that are nonrecurring or non-operational in nature including items such as, but not limited to, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2008. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these

measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.

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Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

	Three months ended December 31,				Twelve months ended December 31,
	2008		2007		2008		2007
Net revenues	$	1,237,402	$	1,177,337	$	5,022,417	$	4,683,150
Operating charges:
Salaries, wages and benefits		532,667		510,442		2,133,181		2,004,995
Other operating expenses		267,021		244,909		1,044,278		982,614
Supplies expense		170,231		166,390		694,477		666,320
Provision for doubtful accounts		111,299		102,180		476,745		410,543
Depreciation and amortization		51,091		47,214		193,635		180,557
Lease and rental expense		16,861		17,462		69,882		67,867
		1,149,170		1,088,597		4,612,198		4,312,896
Income before interest expense, minority interests and income taxes		88,232		88,740		410,219		370,254
Interest expense, net		13,060		12,983		53,207		51,626
Minority interests in earnings of consolidated entities		6,671		10,710		40,693		43,361
Income before income taxes		68,501		65,047		316,319		275,267
Provision for income taxes		28,026		25,357		123,378		104,625
Income from continuing operations		40,475		39,690		192,941		170,642
Income (loss) from discontinued operations, net of income tax expense (a)		6,002		264		6,436		(255	)
Net income	$	46,477	$	39,954	$	199,377	$	170,387
Basic earnings (loss) per share: (b)
From continuing operations	$	0.81	$	0.75	$	3.81	$	3.20
From discontinued operations		0.12		—		0.13		(0.01	)
Total basic earnings per share	$	0.93	$	0.75	$	3.94	$	3.19
Diluted earnings per share: (b)
From continuing operations	$	0.81	$	0.75	$	3.80	$	3.18
From discontinued operations		0.12		—		0.13		—
Total diluted earnings per share	$	0.93	$	0.75	$	3.93	$	3.18

Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

	Three months ended December 31,						Twelve months ended December 31,
	2008			2007			2008			2007
(a) Calculation of income (loss) from discontinued operations, net of income tax:
(Loss) income from operations, net of minority interest	$	(3,702	)	$	427		$	(2,996	)	$	(411	)
Gain on divestiture		13,413			—			13,413			—
Income (loss) from discontinued operations, pre-tax		9,711			427			10,417			(411	)
Income tax (expense) benefit		(3,709	)		(163	)		(3,981	)		156
Income (loss) from discontinued operations, net of taxes	$	6,002		$	264		$	6,436		$	(255	)
(b) Earnings per share calculation:
Basic:
Income from continuing operations	$	40,475		$	39,690		$	192,941		$	170,642
Less: Dividends on unvested restricted stock, net of taxes		(10	)		(17	)		(49	)		(79	)
Income from continuing operations - basic		40,465			39,673			192,892			170,563
Income (loss) from discontinued operations		6,002			264			6,436			(255	)
Net income - basic	$	46,467		$	39,937		$	199,328		$	170,308
Weighted average number of common shares - basic		50,008			53,051			50,611			53,381
Basic earnings (loss) per share:
From continuing operations	$	0.81		$	0.75		$	3.81		$	3.20
From discontinued operations		0.12			0.00			0.13			(0.01	)
Total basic earnings per share	$	0.93		$	0.75		$	3.94		$	3.19
Diluted:
Income from continuing operations	$	40,475		$	39,690		$	192,941		$	170,642
Less: Dividends on unvested restricted stock, net of taxes		(10	)		(17	)		(49	)		(79	)
Income from continuing operations - diluted		40,465			39,673			192,892			170,563
Income (loss) from discontinued operations		6,002			264			6,436			(255	)
Net income - diluted	$	46,467		$	39,937		$	199,328		$	170,308
Weighted average number of common shares		50,008			53,051			50,611			53,381
Add: Other share equivalents		189			182			165			188
Weighted average number of common shares and equiv. - diluted		50,197			53,233			50,776			53,569
Diluted earnings per share:
From continuing operations	$	0.81		$	0.75		$	3.80		$	3.18
From discontinued operations		0.12			0.00			0.13			0.00
Total diluted earnings per share	$	0.93		$	0.75		$	3.93		$	3.18

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”)

For the three months ended December 31, 2008 and 2007

(in thousands, except per share amounts)

	Three months ended December 31, 2008						Three months ended December 31, 2007
Net revenues	$	1,237,402			100.0	%	$	1,177,337		100.0	%
Operating charges:
Salaries, wages and benefits		532,667			43.0	%		510,442		43.4	%
Other operating expenses		267,021			21.6	%		244,909		20.8	%
Supplies expense		170,231			13.8	%		166,390		14.1	%
Provision for doubtful accounts		111,299			9.0	%		102,180		8.7	%
		1,081,218			87.4	%		1,023,921		87.0	%
Operating income/margin		156,184			12.6	%		153,416		13.0	%
Lease and rental expense		16,861						17,462
Minority interests in earnings of consolidated entities		6,671						10,710
Earnings before hurricane related expenses, depreciation and amortization, interest expense, and income taxes (“EBITDA”)		132,652						125,244
Depreciation and amortization		51,091						47,214
Interest expense, net		13,060						12,983
Income before income taxes		68,501						65,047
Provision for income taxes		28,026						25,357
Income from continuing operations		40,475						39,690
Income from discontinued operations, net of income taxes		6,002						264
Net income	$	46,477					$	39,954
	Three months ended December 31, 2008						Three months ended December 31, 2007
	Amount			Per Diluted Share			Amount		Per Diluted Share
Calculation of Adjusted Income from Continuing Operations
Income from continuing operations	$	40,475		$	0.81		$	39,690	$	0.75
Plus/minus adjustments:
South Texas Health System affiliates reserve, net of income taxes		9,153			0.18			—		—
PHICO estate liquidation proceeds, net of income taxes		(5,968	)		(0.12	)		—		—
Subtotal after-tax adjustments to income from continuing operations		3,185			0.06			—		—
Adjusted income from continuing operations	$	43,660		$	0.87		$	39,690	$	0.75
Calculation of Adjusted Net Income
Net income	$	46,477		$	0.93		$	39,954	$	0.75
After-tax adjustments to income from continuing operations, as indicated above		3,185			0.06			—		—
After-tax gain on divestiture		(8,287	)		(0.17	)		—		—
Adjusted net income	$	41,375		$	0.82		$	39,954	$	0.75

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”)

For the twelve months ended December 31, 2008 and 2007

(in thousands, except per share amounts)

	Twelve months ended December 31, 2008						Twelve months ended December 31, 2007
Net revenues	$	5,022,417			100.0	%	$	4,683,150			100.0	%
Operating charges:
Salaries, wages and benefits		2,133,181			42.5	%		2,004,995			42.8	%
Other operating expenses		1,044,278			20.8	%		982,614			21.0	%
Supplies expense		694,477			13.8	%		666,320			14.2	%
Provision for doubtful accounts		476,745			9.5	%		410,543			8.8	%
		4,348,681			86.6	%		4,064,472			86.8	%
Operating income/margin		673,736			13.4	%		618,678			13.2	%
Lease and rental expense		69,882						67,867
Minority interests in earnings of consolidated entities		40,693						43,361
Earnings before hurricane related expenses, depreciation and amortization, interest expense, and income taxes (“EBITDA”)		563,161						507,450
Depreciation and amortization		193,635						180,557
Interest expense, net		53,207						51,626
Income before income taxes		316,319						275,267
Provision for income taxes		123,378						104,625
Income from continuing operations		192,941						170,642
Income (loss) from discontinued operations, net of income taxes		6,436						(255	)
Net income	$	199,377					$	170,387
	Twelve months ended December 31, 2008						Twelve months ended December 31, 2007
	Amount			Per Diluted Share			Amount			Per Diluted Share
Calculation of Adjusted Income from Continuing Operations
Income from continuing operations	$	192,941		$	3.80		$	170,642		$	3.18
Plus/minus adjustments:
Gain on sale of real property and other investment, net of income taxes		(4,894	)		(0.09	)		(1,364	)		(0.02	)
South Texas Health System affiliates reserve, net of income taxes		15,255			0.30			—			—
PHICO estate liquidation proceeds, net of income taxes		(5,968	)		(0.12	)		—			—
Reduction of professional and general liability expense, net of minority interests and income taxes		—			—			(10,104	)		(0.19	)
Unfavorable prior period effect of Texas Medicaid supplemental payments and cost report settlements, net of income taxes		—			—			3,419			0.07
Favorable tax reserve adjustment		—			—			(2,079	)		(0.04	)
Reserve for legal judgment and lawsuit, net of income taxes		—			—			2,307			0.04
Write-down of investment in joint-venture, net of income taxes		—			—			1,612			0.03
Subtotal after-tax adjustments to income from continuing operations		4,393			0.09			(6,209	)		(0.11	)
Adjusted income from continuing operations	$	197,334		$	3.89		$	164,433		$	3.07
Calculation of Adjusted Net Income
Net income	$	199,377		$	3.93		$	170,387		$	3.18
After-tax adjustments to income from continuing operations, as indicated above		4,393			0.09			(6,209	)		(0.11	)
After-tax gain on divestiture		(8,287	)		(0.17	)		—			—
Adjusted net income	$	195,483		$	3.85		$	164,178		$	3.07

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

	December 31, 2008		December 31, 2007
Assets:
Cash and cash equivalents	$	5,460	$	16,354
Accounts receivable, net		625,437		627,186
Other current assets		136,940		131,307
Current assets held for sale		21,580		—
Property, plant and equipment, net		2,100,292		1,933,916
Other assets		852,753		899,894
Total Assets	$	3,742,462	$	3,608,657
Liabilities and Stockholders’ Equity:
Current portion of long-term debt	$	8,708	$	3,116
Other current liabilities		552,417		484,595
Other noncurrent liabilities		407,652		344,755
Long-term debt		990,661		1,008,786
Deferred income taxes		12,439		40,022
Minority interests		226,735		210,184
Stockholders’ equity		1,543,850		1,517,199
Total Liabilities and Stockholders’ Equity	$	3,742,462	$	3,608,657

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

	Twelve months ended December 31,
	2008			2007
Cash Flows from Operating Activities:
Net income	$	199,377		$	170,387
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation & amortization		195,766			183,281
Gains on sales of assets and businesses, net of losses		(21,464	)		(3,722	)
Provision for settlements		25,000			—
Changes in assets & liabilities, net of effects from acquisitions and dispositions:
Accounts receivable		22,445			(13,050	)
Construction management and other receivable		(20,693	)		1,510
Accrued interest		(123	)		2,143
Accrued and deferred income taxes		(3,483	)		9,648
Other working capital accounts		3,878			(26,547	)
Other assets and deferred charges		21,003			(4,700	)
Other		16,928			8,688
Minority interest in earnings of consolidated entities, net of distributions		9,614			10,334
Accrued insurance expense, net of commercial premiums paid		73,413			64,131
Payments made in settlement of self-insurance claims		(58,561	)		(53,608	)
Net cash provided by operating activities		463,100			348,495
Cash Flows from Investing Activities:
Property and equipment additions, net of disposals		(354,537	)		(339,813	)
Proceeds received from sale of assets		82,062			6,818
Settlement proceeds received related to prior year acquisition, net of expenses		1,539			—
Investment in joint-venture		(1,249	)		—
Acquisition of assets and businesses		(23,481	)		(101,792	)
Purchase of minority ownership interest in majority owned business		(1,058	)		(14,762	)
Net cash used in investing activities		(296,724	)		(449,549	)
Cash Flows from Financing Activities:
Additional borrowings		151,129			183,206
Reduction of long-term debt		(166,557	)		(8,716	)
Repurchase of common shares		(149,404	)		(74,091	)
Dividends paid		(16,150	)		(17,169	)
Issuance of common stock		2,354			2,264
Financing costs		(975	)		(588	)
Capital contributions from minority member		2,333			17,563
Net cash (used in) provided by financing activities		(177,270	)		102,469
(Decrease) increase in cash and cash equivalents		(10,894	)		1,415
Cash and cash equivalents, beginning of period		16,354			14,939
Cash and cash equivalents, end of period	$	5,460		$	16,354
Supplemental Disclosures of Cash Flow Information:
Interest paid	$	62,285		$	58,567
Income taxes paid, net of refunds	$	130,379		$	93,519

Universal Health Services, Inc.

Supplemental Statistical Information

(un-audited)

Same Facility:

	% Change Quarter Ended 12/31/2008		% Change 12 months ended 12/31/2008
Acute Care Hospitals
Revenues	2.2	%	4.8	%
Adjusted Admissions	-1.0	%	0.0	%
Adjusted Patient Days	0.7	%	0.7	%
Revenue Per Adjusted Admission	3.3	%	4.8	%
Revenue Per Adjusted Patient Day	1.4	%	4.1	%
Behavioral Health Hospitals
Revenues	4.0	%	7.6	%
Adjusted Admissions	0.3	%	6.1	%
Adjusted Patient Days	-0.6	%	2.9	%
Revenue Per Adjusted Admission	3.9	%	1.4	%
Revenue Per Adjusted Patient Day	4.8	%	4.6	%

UHS Consolidated

	Fourth Quarter Ended						Twelve months Ended
	12/31/2008			12/31/2007			12/31/2008			12/31/2007
Revenues	$	1,237,402		$	1,177,337		$	5,022,417		$	4,683,150
EBITDA (1) (5)		132,652			125,244			563,161			507,450
EBITDA Margin (1)		10.7	%		10.6	%		11.2	%		10.8	%
Cash Flow From Operations		67,157			25,714			463,100			348,495
Days Sales Outstanding		47			49			46			49
Capital Expenditures		114,657			76,447			354,537			339,813
Debt								999,369			1,011,902
Shareholders Equity								1,543,850			1,517,199
Debt / Total Capitalization								39.3	%		40.0	%
Debt / EBITDA (2)								1.77			1.99
Debt / Cash From Operations (2)								2.16			2.90
Acute Care EBITDAR Margin (3) (4) (5)		13.6	%		13.1	%		14.1	%		13.7	%
Behavioral Health EBITDAR Margin (3) (4)		22.7	%		22.8	%		23.3	%		22.9	%

(1) Net of Minority Interest

(2) Latest 4 quarters

(3) Before Corporate overhead allocation and minority interest

(4) Excluding discontinued operations

(5) 2008 Acute care margin excludes $25.1 million South Texas Reserve

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

DECEMBER 31, 2008

AS REPORTED:

	ACUTE (1)								BEHAVIORAL HEALTH
	12/31/08			12/31/07			% change		12/31/08			12/31/07			% change
Hospitals owned and leased		22			22		0.0	%		81			85		-4.7	%
Average licensed beds		5,450			5,415		0.6	%		7,742			7,573		2.2	%
Patient days		291,885			285,286		2.3	%		505,028			517,818		-2.5	%
Average daily census		3,172.7			3,100.9		2.3	%		5,489.4			5,628.5		-2.5	%
Occupancy-licensed beds		58.2	%		57.3	%	1.7	%		70.9	%		74.3	%	-4.6	%
Admissions		65,302			64,425		1.4	%		31,325			30,548		2.5	%
Length of stay		4.5			4.4		0.9	%		16.1			17.0		-4.9	%
Inpatient revenue	$	2,292,917		$	2,075,508		10.5	%	$	484,524		$	467,737		3.6	%
Outpatient revenue		906,669			850,047		6.7	%		64,741			62,362		3.8	%
Total patient revenue		3,199,586			2,925,555		9.4	%		549,265			530,099		3.6	%
Other revenue		16,837			14,881		13.1	%		8,096			7,750		4.5	%
Gross hospital revenue		3,216,423			2,940,436		9.4	%		557,361			537,849		3.6	%
Total deductions		2,323,146			2,088,830		11.2	%		247,251			239,349		3.3	%
Net hospital revenue	$	893,277		$	851,606		4.9	%	$	310,110		$	298,500		3.9	%
SAME FACILITY:
	ACUTE (2)								BEHAVIORAL HEALTH (3)
	12/31/08			12/31/07			% change		12/31/08			12/31/07			% change
Hospitals owned and leased		22			22		0.0	%		81			81		0.0	%
Average licensed beds		5,285			5,290		-0.1	%		7,546			7,354		2.6	%
Patient days		283,507			279,560		1.4	%		500,848			501,869		-0.2	%
Average daily census		3,081.6			3,038.7		1.4	%		5,444.0			5,455.1		-0.2	%
Occupancy-licensed beds		58.3	%		57.4	%	1.5	%		72.1	%		74.2	%	-2.7	%
Admissions		62,860			63,092		-0.4	%		30,652			30,449		0.7	%
Length of stay		4.5			4.4		1.8	%		16.3			16.5		-0.9	%

(1) Acute care hospitals located in New Orleans and discontinued operations are excluded in 2007 and 2008.

(2) Acute care hospitals located in New Orleans, discontinued operations and Centennial Hills Hospital are excluded in current and prior years.

(3) Casa de Lago, Central Florida, Summit Ridge Hospital and Shenandoah Valley are excluded in both current and prior years. Highlands Behavioral is included in both current and prior years from March 1st through year to date. Dover Behavioral is included in both current and prior years from May 1st through year to date. Foundations Behavioral is included in both current and prior years from July 1st through year to date. Cottonwood Treatment is included in both current and prior years from August 1st through year to date. Broad Horizons, Highlander RTC, Midwest Youth and Vista Group Homes are excluded in both current and prior years from July 1st through year to date.

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE TWELVE MONTHS ENDED

DECEMBER 31, 2008

AS REPORTED:

	ACUTE (1)								BEHAVIORAL HEALTH
	12/31/08			12/31/07			% change		12/31/08			12/31/07			% change
Hospitals owned and leased		22			22		0.0	%		81			85		-4.7	%
Average licensed beds		5,452			5,417		0.6	%		7,658			7,573		1.1	%
Patient days		1,200,672			1,172,130		2.4	%		2,085,114			2,007,119		3.9	%
Average daily census		3,280.5			3,211.3		2.2	%		5,697.0			5,499.0		3.6	%
Occupancy-licensed beds		60.2	%		59.3	%	1.5	%		74.4	%		72.6	%	2.5	%
Admissions		268,207			262,147		2.3	%		129,553			119,730		8.2	%
Length of stay		4.5			4.5		0.1	%		16.1			16.8		-4.0	%
Inpatient revenue	$	9,292,596		$	8,375,435		11.0	%	$	1,951,560		$	1,806,835		8.0	%
Outpatient revenue		3,655,051			3,382,862		8.0	%		258,022			235,920		9.4	%
Total patient revenue		12,947,647			11,758,297		10.1	%		2,209,582			2,042,755		8.2	%
Other revenue		72,578			58,661		23.7	%		34,330			29,688		15.6	%
Gross hospital revenue		13,020,225			11,816,958		10.2	%		2,243,912			2,072,443		8.3	%
Total deductions		9,350,721			8,406,590		11.2	%		992,796			926,365		7.2	%
Net hospital revenue	$	3,669,504		$	3,410,368		7.6	%	$	1,251,116		$	1,146,078		9.2	%
SAME FACILITY:
	ACUTE (2)								BEHAVIORAL HEALTH (3)
	12/31/08			12/31/07			% change		12/31/08			12/31/07			% change
Hospitals owned and leased		22			22		0.0	%		81			81		0.0	%
Average licensed beds		5,287			5,292		-0.1	%		7,443			7,231		2.9	%
Patient days		1,158,353			1,149,422		0.8	%		2,038,217			1,974,322		3.2	%
Average daily census		3,164.9			3,149.1		0.5	%		5,568.9			5,409.1		3.0	%
Occupancy-licensed beds		59.9	%		59.5	%	0.6	%		74.8	%		74.8	%	0.0	%
Admissions		256,873			256,681		0.1	%		127,226			119,585		6.4	%
Length of stay		4.5			4.5		0.7	%		16.0			16.5		3.0	%

(1) Acute care hospitals located in New Orleans and discontinued operations are excluded in 2007 and 2008.

(2) Acute care hospitals located in New Orleans, discontinue operations and Centennial Hills Hospital are excluded in current and prior years.

(3) Casa de Lago, Central Florida, Summit Ridge Hospital and Shenandoah Valley are excluded in both current and prior years. Highlands Behavioral is included in both current and prior years from March 1st through year to date. Dover Behavioral is included in both current and prior years from May 1st through year to date. Foundations Behavioral is included in both current and prior years from July 1st through year to date. Cottonwood Treatment is included in both current and prior years from August 1st through year to date. Broad Horizons, Highlander RTC, Midwest Youth and Vista Group Homes are excluded in both current and prior years from July 1st through year to date.