Mednet, MPC Corporation subsidiary receives $47 million per annum contract from Commonwealth of Pennsylvania; Includes three one-year extensions

Business Wire, June 22, 1995

LAS VEGAS--(BUSINESS WIRE)--June 22, 1995--MEDNET MPC CORPORATION (NASDAQ: MMRX), a rapidly growing manage prescription care company, has been awarded a $47 million per annum contract by the Department of General Services for the Commonwealth of Pennsylvania to provide Pharmaceutical Purchasing Management (PPM) Services, it was announced today by M.B. Merryman, president and chief executive officer. The award to Medi-Claim Inc., the company's Pennsylvania-based subsidiary is for one year with three one-year extensions.

The final agreement is expected to be signed by the end of June, with an anticipated start date of July 1, Merryman said. A portion of the program's implementation will likely be subcontracted to Bergen Brunswick, he said.

Said, Mr. Merryman, "This contract is an indication of the company's accelerating internally generated growth. Combined with our announcement earlier this quarter of our binding letter of intent to acquire Home Pharmacy, a division of ArcVentures of Chicago, Mednet's consolidated revenues for 1995 should be in the range of $150 million, up from $67 million last year."

CONTACT: MEDNET MPC CORPORATION

M.B. Merryman, 702/361-3119

or

THE WALL STREET GROUP INC.

212/888-4848