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Released July 30, 2004

UNIVERSITY RESEARCH FOUNDATION TO PURCHASE
FORMER GARDEN PARK HOSPITAL BUILDING
HATTIESBURG -- The University of Southern Mississippi Research Foundation is moving forward with negotiations to purchase the former Garden Park Hospital building on the Mississippi Gulf Coast from the Hospital Corporation of America for the cost of $1. The 120,000-square-foot facility is located on 11 acres in Gulfport.

The sole purpose of the Research Foundation is to promote and support research and research-related activities.

"With the acquisition of this facility, we will now have adequate space to grow research-related programs of the university and be able to partner with private and nonprofit entities for the benefit of the people of south Mississippi," said Dr. Angie Dvorak, president of the Research Foundation.

The facility has been vacant for approximately four years. The Research Foundation is securing financing necessary for refurbishment of the facility based on tenant needs. "With the advancement of technology and our needs for hi-tech research-oriented work space, we expect the facility to be top of the line after renovations are completed," said Dvorak.

The University of Southern Mississippi Research Foundation is a Mississippi corporation and a nonprofit 501(c)(3) organization, which was established in 1998. Board members of the Research Foundation are Lawrence Warren, Dr. Cecil Burge, Dr. Jim Evans, Jan Lacy and Brad Brian.

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August 5, 2004 5:20 PM