National Home Health Care Corp. Enters into Revised Angelo Gordon & Co. Agreement

  
    
  
  
    
      National Home Health Care Corp. (NASDAQ National Market: NHHC), a 
      provider of home health care and staffing services in the Northeast, 
      today reported that it has entered into an Amended and Restated 
      Agreement and Plan of Merger with affiliates of Angelo Gordon & Co. The 
      amended agreement provides that each shareholder will receive $12.50 per 
      share in cash (other than Frederick H. Fialkow whose previously agreed 
      upon subordinated note has not changed). The previous agreement with 
      affiliates of Angelo Gordon & Co. offered $11.50 per share. The amended 
      agreement eliminates the $7.9 million minimum EBITDA condition contained 
      in the original merger agreement with affiliates of Angelo Gordon & Co. 
      Other ancillary agreements provided for in the original merger agreement 
      remain unchanged. These agreements are more fully described in NHHC’s 
      Form 8-K filed with the Securities and Exchange Commission on December 
      4, 2006. The Special Committee of NHHC’s Board 
      of Directors met on Wednesday, May 9, 2007 and concluded unanimously 
      that the terms of the $12.50 per share merger agreement offered by 
      Angelo Gordon & Co. are superior to the terms of the $12.00 per share 
      price contained in the offer of Premier Home Health Care Services, Inc. 
      previously announced. NHHC's Board of Directors unanimously accepted the 
      recommendation of the Special Committee to enter into the amended 
      agreement with affiliates of Angelo Gordon. The amended Agreement has 
      been fully executed. NHHC intends to adjourn its previously announced 
      Special Meeting of Stockholders to approve the transaction until May 29, 
      2007. The transaction is expected to close on or before October 15, 
      2007, subject to satisfaction of the conditions to consummation, 
      including regulatory approvals and the absence of any material adverse 
      change. The description of the merger agreement set forth above is 
      qualified in its entirety by reference to the Form 8-K which will be 
      filed by NHHC with the Securities and Exchange Commission.