Unilabs achieves increased revenues for the year ended May 31, 2006

* Revenues of CHF 291.3 million, up 8.4% * EBITDA of CHF 45.8 million, down 0.8% * Earnings before taxes CHF 21.7 million, down 27.1% * Net income CHF 9.9 million, down 46.0% * Cash flow from operations CHF 32.7 million, down 9.2%

For the fiscal year 2005/2006, which ended on May 31, 2006, Unilabs (SWX: ULB) achieved revenues of CHF 291.3 million, an increase of 8.4% compared to the prior financial year. At constant exchange rates, revenues grew by 7.8% or 1.8% excluding acquisitions. This positive performance allowed Unilabs to reach its own guidance of 8-9% Group revenue growth for the fiscal year ended May 31, 2006. Earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by 0.8% to reach CHF 45.8 million, or 15.7% of revenues, while operating profit decreased by 5.9% to CHF 33.9 million. This result reflects largely the impact of the Swiss Federal Council to impose a 10% linear reduction in the reimbursement prices for tests, beginning January 1, 2006. Net income attributable to Unilabs shareholders decreased by 46.0% mainly as a result of the lower operating income and the impact of a one time non cash charge for impairment of intangible assets of CHF 4.7 million recorded in the third quarter and the increased net income attributable to holders of minority interests.

Fourth quarter revenues reached CHF 80.1 million, up 4.4% from CHF 76.8 million for the same quarter one year ago, but declined by 2.4% excluding acquisitions. EBITDA reached CHF 15.0 million, or 18.8% of revenues compared with CHF 14.2 million or 18.6% of revenues in the previous year.

In Switzerland, the 10% linear reduction in the reimbursement prices for tests, beginning January 1, 2006, impacted revenues by CHF 7.3 million in the second half of the year and net income by 3.5 million. Fourth quarter Swiss revenues decreased by 8.4% to CHF 46.9 million, versus CHF 51.2 million in the previous year. The cost-cutting measures implemented by Unilabs to compensate the impact of the OFAS decision started to materialize during the fourth quarter 2005/2006. For the entire fiscal year, Swiss revenues increased by 3.2% to CHF 185.4 million, but decreased by 1.4% excluding the effect of acquisitions made in the previous year.

Revenues grew by 19.4 % in Spain to CHF 38.8 million and by 1.8% in France to CHF 47.6 million. As a result of the acquisition, on December 30, 2005, of a leading laboratory in Portugal, Unilabs posted for the first time revenues of CHF 7.1 million in this country.

Financial performance For the full fiscal year 2005/2006, earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by 0.8% to reach CHF 45.8 million, or 15.7% of revenues. Operating profit (EBIT) reached CHF 33.8 million, or 11.6% of revenues, compared with CHF 36.0 million, or 13.4% of revenues in the previous fiscal year, a decrease of 5.9%.

In connection with a swap contract, which purports to protect the company against an increase in interest rates, in accordance with accounting rule IAS 39, an amount of CHF 1.7 million was written back to profit out of the previously-established provisions of CHF 2.8 million. As indicated previously, the balance of such provisions at May 31, 2006 (CHF 1.1 million), will be written back to profit at the latest upon termination of the contract on April 1, 2007.

Earnings before taxes decreased by 27.1% to CHF 21.7 million, compared with CHF 29.7 million in the previous financial year, as a result of the one time non cash charge for impairment of intangible assets of CHF 4.7 million recorded in the third quarter in accordance with Accounting rule IAS 36.

Income tax provisions were CHF 7.7 million as compared to CHF 8.2 million. Minority interests in net income increased to CHF 4.0 compared to CHF 3.2 million a year ago. Taking into account the lower EBIT and the one time charge for impairment of intangible assets, net income attributable to Unilabs shareholders amounted to CHF 9.9 million (or CHF 1.01 per bearer share), compared with CHF 18.4 million (or CHF 1.87 per bearer share) in the previous financial year.

Strong balance sheet and debt position At May 31, 2006, total stockholders' equity grew to CHF 130.7 million versus CHF 122.5 million in the previous year, an increase of 6.6%.

As a result of acquisitions, the net financial debt increased by 89% from CHF 38.3 million to CHF 72.4 million during the period and unused credit facilities and available cash declined from CHF 71.8 million last year to CHF 29.4 million on May 31, 2006.

During the year ended May 31, 2006, Unilabs: * Entered the Portuguese market with a strategic acquisition * Completed a second acquisition in Portugal effective June 1, 2006 * Consolidated its market share in Switzerland, Spain and France * Pursued the identification and review of acquisition targets * Completed one acquisition in Spain * Received the approval of the General Shareholders Meeting for the issuance of a conditional capital and to distribute options to all shareholders that will enable them to buy Unilabs shares at a price of CHF 40.- per bearer share on December 14, 2008.

Outlook For the current fiscal year, ending May 31, 2007, Unilabs expects an organic Group revenue growth between 2.0 and 2.5% in local currencies and anticipates an EBITDA margin between 17-18% of revenues.

This outlook takes into account the full year impact of the Swiss price reduction as well as the cost-cutting measures that have been implemented by the Company to achieve savings to a level close to the expected loss of margin. Without the measures, the decision of the Swiss Federal Council would result in a reduction of Unilabs' annual net income of about CHF 12 million for the fiscal year 2006/2007. The Company plans to pursue this effort by developing and implementing a number of additional cost savings measures for the next three years.

Through select acquisitions, Unilabs intends to further take advantage of the European consolidation process of the clinical laboratory market.

Conference call Today, Unilabs will hold an investor and analyst meeting in Zurich at 10:30 a.m. CET to discuss the financial results for the full fiscal year. This event will be relayed live through a conference call. To participate in the conference call, dial: +41 (0)91 610 5600 (Europe and Switzerland), +44 (0) 20 7107 06 11 (UK), +1 (1) 866 291 41 66 (US). Digital playback is available for 48 hours after the conference starting at 03:30 p.m. until 21 September 03:30 p.m. CET, dial: +41 91 612 4330 (Europe); +44 207 108 62 33 (UK); +1 866 41 62 558 (US/Canada); Conference ID: 366 followed by #. In order to view the slide presentation, a link to the presentation will be provided immediately prior to the event on www.unilabs.com. Please note that sound will only be provided through the telephone conference.

About Unilabs The Unilabs Group (SWX: ULB) is the European leader of clinical testing laboratories. With over 50 laboratories and over 1500 employees operating in 6 countries, Unilabs tests over 3.5 million samples per year using more than 1500 different tests. Unilabs' clinical testing services are used by over 60 public and private hospitals in France, Spain and Switzerland. Unilabs has been listed on the SWX Swiss Stock Exchange since 1997.

Edgard Zwirn, Executive Chairman, is at your disposal for any further query (tel. +4122 909 77 77). Our press releases are also available on the Internet at our web site www.unilabs.com.

--- End of Message --- WKN: 906648; ISIN: CH0012561640; Index: SPI, SSCI, SBIOM, SLIFE, SPIEX; Listed: Main Market in SWX Swiss Exchange;