13.07.2006 23:02:00
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GMH Communities Trust Provides Special Committee Update
NEWTOWN SQUARE, Pa., July 13 /PRNewswire-FirstCall/ -- GMH Communities Trust (the "Company") announced today that the Special Committee of the Board of Trustees is preparing to solicit indications of interest in acquiring the Company as part of its evaluation of strategic alternatives which commenced on March 13, 2006. The Special Committee, however, may determine that none of the indications of interest, if any are received, merits further pursuit.
In addition, on July 10, 2006, Gary M. Holloway, Sr., Chairman of the Board of Trustees and Chief Executive Officer of the Company, informed the Board of Trustees that he does not intend to make an independent offer to purchase the Company. Mr. Holloway will continue to assist the Special Committee, as requested, in its evaluation of alternatives and also communicated to the Special Committee that he would consider participating in a potential acquisition by a third party as part of the Special Committee's evaluation process.
There can be no assurance that the Company will engage in a transaction with any third party or regarding the terms of any such transaction. The Company does not intend to update, review or revise the information contained herein.
About GMH Communities Trust
GMH Communities Trust (http://www.gmhcommunities.com/) is a publicly-traded Maryland real estate investment trust (REIT). We are a self-advised, self- managed, specialty housing company focused on providing housing to college and university students residing off-campus and to members of the U.S. military and their families residing on or near bases throughout the United States. GMH Communities also provides property management services to third-party owners of student housing properties, including colleges, universities, and other private owners. The Company, based in Newtown Square, PA, employs more than 1,700 people throughout the United States.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are based on our current expectations, estimates and projections about future events and financial trends affecting us are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "estimate" or other comparable terminology, and are inherently subject to risks and uncertainties, including risks relating to our business presented in our filings with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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