RENAL CARE GROUP, INC. ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS

Earnings Per Share Increases 33% for the Year

Nashville, Tennessee (March 1, 2000) — Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced results for the fourth quarter and year ended December 31, 1999.

  Mr. Sam Brooks, president and chief executive officer of Renal Care Group, Inc., said, "We are pleased with our strong financial performance in 1999.  We have established an outstanding four-year record of consistent financial results, and we have been faithful to our unwavering commitment to the patients who receive our dialysis services by improving the quality of care we deliver.  In this process, I believe we have built a sound platform for continued growth and performance."

Revenues for the fourth quarter ended December 31, 1999, increased 34% to $137.8 million compared with revenues, prior to restatement for a pooling-of-interest transaction, of $102.6 million for the same period in 1998.  Net income, prior to the restatement for the pooling-of-interests transaction, increased 37% to $14.2 million, or $0.31 per share, an increase of 29% in earnings per share over the same period last year.

For the year ended December 31, 1999, revenues, prior to the restatement for the pooling-of-interests transaction, increased 41% to $520.6 million compared with revenues of $369.4 million for the same period in 1998.  Prior to the restatement, net income before non-recurring merger costs increased 46% to $52.3 million, or $1.12 per share, compared with net income before nonrecurring costs of $35.8 million, or $0.84 per share, in the same period last year, an increase of 33% in earnings per share.

As restated to give effect to the merger with Dialysis Centers of America, which was treated as a pooling-of-interests for accounting purposes, revenues for the fourth quarter ended December 31, 1999, increased 19% to $137.8 million as compared with $116.2 million for the same period in 1998.  Net income before non-recurring merger costs increased to $14.2 million, or $0.31 per share, compared with net income of $11.3 million, or $0.24 per share, in the same prior year fourth quarter, a 29% increase in earnings per share.  The year-end results restated for the merger with Dialysis Centers of America reflect revenues for the year ended December 31, 1999, increasing 24% to $520.6 million as compared with $420.7 million for 1998.  Net income before nonrecurring merger costs for the year ended December 31, 1999 increased 38% to $52.3 million, or $1.12 per share, compared with net income of $38.0 million, or $0.83 per share last year, a 35% increase in earnings per share.

Same-store treatment and revenue growth were 8.7% and 13.4%, respectively, for the three months ended December 31, 1999.  The Company's days revenues in accounts receivable were 67 days as of December 31, 1999.

Mr. Brooks said, "We have a management team that is focused on consistently achieving both our patient outcomes and financial targets.  I believe all the building blocks are in place and that the year 2000 will prove to be another year of growth in terms of adding new dialysis centers, improving patient outcomes and increasing earnings per share."

Responding to Amgen Inc.'s recently announced 3.9% price increase for Epogen®, Mr. Brooks said, "Without any changes in our current contractual arrangements with Amgen, we estimate that our results for the year ending December 31, 2000, will be negatively affected by up to $0.05 per share.  However, we are negotiating with Amgen, and we believe that a new contract will contain additional incentives that will, to some extent, mitigate the impact of this price increase on our earnings."

Renal Care Group, Inc. is a dialysis services company that provides care to patients with kidney disease.  The Company treats approximately 14,500 patients through 182 dialysis centers, in addition to providing acute dialysis services in 105 hospitals.   Over 5,000 associates provide services in the Company's 23-state network.

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements reflect management's expectations and are based upon currently available information.  These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Renal Care Group to differ materially from those expressed in or implied by the forward-looking statements.  These factors are discussed in more detail in the Company's reports filed with the Securities and Exchange Commission, including without limitation Renal Care Group's annual report on Form 10-K for the year ended December 31, 1998, and the quarterly reports on Form 10-Q for the quarters ended March 31, 1999, June 30, 1999 and September 30, 1999.  Copies of these filings are available from Renal Care Group upon request.

RENAL CARE GROUP, INC.
Unaudited Consolidated Statements of Earnings
(In thousands, except per share data)

1 Restated amounts give effect to the merger with DCA, which was effective January 29, 1999, and was accounted for as a pooling-of-interests.

Contact:
R. Dirk Allison
Chief Financial Officer
615-345-5500