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Advance Paradigm Inc - General Information
Advance Paradigm is a leading independent provider of PBM services to health benefit plan sponsors, with approximately ten million health plan members enrolled in the Company's programs. The Company's primary focus is on the delivery of cost-effective, high quality, integrated PBM services.

In addition, the Company has developed Health Benefit Management services and is expanding its clinical expertise and disease management services to meet the specialized needs of its plans' members, particularly those requiring costly, long-term and recurring therapies. These services are designed to inform and educate health benefit plan sponsors, their members and participating physicians of nationally recognized practice guidelines for various disease states. This encourages physician and member compliance which in turn, improves member health while reducing cost of care.

Latest Advance Paradigm press releases:
11/03/97 Advance Paradigm, Inc. Announces Pharmacy Benefit Management Services Agreement with Costco
11/03/97 Advance Paradigm, Inc. and Nabisco Announce Pharmacy Services Agreement
11/03/97 Advance Paradigm, Inc. Announces Record Revenues and Earnings  
For Fiscal 2nd Quarter 1998
10/20/97 Advance Paradigm, Inc. and Wellmark, Inc. Announce  
Pharmacy Benefit Management Services Vendor Selection
10/14/97 Advance Paradigm, Inc. and Pharmaceutical Care Network  
Announce Formulary and Rebate Management Agreement
08/06/97 Advance Paradigm, Inc. and Finger Lakes Bluecross and Blueshield  
Announce Pharmacy Benefit Management Services Agreement Renewal
08/04/97 Advance Paradigm, Inc. and the State of Kansas Announce 
Pharmacy Benefit Management Services Vendor Selection
08/04/97 Advance Paradigm, Inc., Reports Record Fiscal 1998 First 
Quarter Revenues and Earnings
05/21/97 Advance Paradigm, Inc. and the UMWA Health and Retirement 
Funds Announce Pharmacy Services Agreement
 

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Advance Paradigm, Inc. Announces Pharmacy Benefit Management Services Agreement with Costco
Announcement Calls For Integrated Clinical Strategies to Reduce Drug Costs and Improve Outcomes

IRVING, Texas, Nov. 3 -- Advance Paradigm, Inc., (Nasdaq:ADVP), today announced that it has been selected to provide pharmacy benefit management services for Costco Companies, Inc. based in Issaquah, Washington. Under the agreement, Advance Paradigm will provide Costco with fully integrated pharmacy services including: claims adjudication, formulary management, clinical services and network management. In addition, Costco will have access to Advance Paradigm's health benefit management products including disease management and personal care management. This agreement became effective November 1, 1997, and will cover approximately 100,000 members based in 23 states.

``Our integrated clinical strategies will provide Costco with the ability to control drug cost, the flexibility to offer innovative new products and the opportunity to deliver the highest levels of service and care to their members,'' said David D. Halbert, Chairman and Chief Executive Officer of Advance Paradigm. ``Our clinical leadership, innovative information management capabilities and aggressive commitment to customer service, positions us well to meet Costco's need to provide coordinated medical care management. A good example is Advance Paradigm's decision support system, ApotheQuery(R), which is used to accurately profile physician prescribing patterns, improve compliance, and thereby positively impact the overall quality of care.''

In addition to physician and member profiling, Advance Paradigm will provide Costco Companies, Inc. with access to other AdvanceSolutions (SM) clinical intervention strategies including: AdvanceChoice (SM), an innovative Formulary POS (point of service) MAC program and AdvanceSecure (SM), a clinically focused prior authorization program.

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of more than 12 million lives includes HMOs, PPOs, BlueCross & BlueShield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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Advance Paradigm, Inc. and Nabisco Announce Pharmacy Services Agreement
IRVING, Texas, Nov. 3  -- Advance Paradigm, Inc., (Nasdaq:ADVP), announced today that it has been selected to provide pharmacy benefit management services on a multi-year basis to Nabisco, Inc. Under the agreement, Advance Paradigm will provide approximately 28,000 Nabisco employees with fully integrated pharmacy services including retail and mail order prescriptions, formulary management, clinical services and pharmacy network management. In addition, Advance Paradigm will provide services to enable Nabisco to implement disease management programs for chronic conditions such as diabetes. The proposed agreement will become effective January 1, 1998.

``The opportunity to work with Nabisco is very exciting for us,'' said David D. Halbert, Chairman and Chief Executive Officer of Advance Paradigm. ``Advance Paradigm's pharmacy and health benefit management programs are designed to deliver high quality services in a cost-effective manner in order to help companies manage their pharmacy and medical costs.''

``Our selection of Advance Paradigm was driven by several key factors including their customer service, their experience with plan designs, and their assertive cost management program,'' said Paula Bills, Senior Director, Benefits/Employer Services for Nabisco. ``Advance Paradigm also offers a program that enables us to evaluate prescribing patterns and implement disease management programs.''

Nabisco (NYSE:NA) is a major international manufacturer of snacks and other food products, including such well-known brands in the U.S. as Oreo, SnackWell's, and Chips Ahoy! cookies; Ritz crackers; A-1 steak sauce; Grey Poupon mustards; Life Savers confections; Planters nuts and snacks; and Fleischmann's and Parkay margarine. International products include Christie, Peek Freans, Terrabusi, Yemina cookies and crackers; Royal dessert mixes; Fleischmann's yeast; and several Nabisco global brands -- Oreo, Ritz and Chips Ahoy! Nabisco markets products in the United States, Canada, and 85 other countries around the world. Last year's worldwide sales were $8.9 billion.

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of more than 12 million lives includes HMOs, PPOs, BlueCross & BlueShield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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Advance Paradigm, Inc. Announces Record Revenues and Earnings For Fiscal 2nd Quarter 1998
Net Income Increases 245 % As Revenues Top $100 Million For The First Time
IRVING, Texas, Nov. 3 -- Advance Paradigm, Inc., (Nasdaq:ADVP), a leading independent provider of health benefit management (HBM) services today reported operating results for its fiscal 1998 second quarter and six months ended September 30, 1997. For the second quarter, the Company generated revenues of $114.4 million and net income of $1.7 million versus last year's $58.0 million and net income of $507,000 for increases of 97 percent and 245 percent respectively. Earnings per share were $0.17 on a 43 percent increase in shares outstanding compared to $0.07 per share for the second quarter of 1997. For the six months ended September 30, 1997, the Company reported revenues of $192.1 million an increase of 78 percent over the same period last year and net income of $3.1 million versus $1.2 million, an increase of 158 percent over the same period a year ago.

David D. Halbert, Chairman and CEO, stated, ``We are proud to report another record breaking quarter for revenues, net income and claims processed. For the quarter ended September 30, 1997, the Company processed over 9.1 million pharmacy claims, an increase of 63 percent over the prior year's quarter. Beginning July 1, 1997 the Company began providing services for the United Mine Workers of America Health and Retirement Funds. The addition of this important relationship was a key contributor to the growth we experienced this quarter.''

The Company earlier today announced they have been selected to provide health benefit management (HBM) services for Nabisco and Costco Companies, Inc., including pharmacy benefit and disease management programs. Other recent new client announcements include Pharmaceutical Care Network and Wellmark, Inc. These clients represent over 2 million new lives, and bring the Company's total managed care lives to over 12 million.

``Nabisco and Costco Companies, Inc. are a direct result of the employer group initiative we implemented earlier this year,'' Halbert continued. ``Our strategy to provide services which go far beyond traditional pharmacy benefit management services has contributed to the Company's success in this and other market segments. This strategy provides integrated disease, information, personal care, and pharmacy benefit management services which focus on delivering cost effective programs which optimize outcomes and service for our clients' members.''

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality integrated pharmacy benefit management(PBM) services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company continues to expand its HBM capabilities including customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm, Inc.'s client base of more than 12 million lives includes HMOs, PPOs, BlueCross and BlueShield organizations, Fortune 500 employers, insurance carriers and third party administrators.

The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward looking statements Factors which would cause or contribute to such differences include but are not limited to factors detailed in the Company's Securities and Exchange Commission filings.

                            ADVANCE PARADIGM, INC.
                      Condensed Statement of Operations
                   ($ in thousands, except per share data)

                               Three Months Ended            Six Months Ended
                                  September 30,                September 30,

                              1997          1996         1997          1996

    Revenues             $ 114,430      $ 58,019    $ 192,140     $ 107,829
    Cost of revenues       109,923        55,540      183,987       102,994
    Selling, general
      and administrative     2,415         1,781        4,527         3,495
         Operating income    2,092           698        3,626         1,340
    Interest income            726           300        1,398           505
    Interest expense             0           180            0           358
         Income before taxes 2,818           818        5,024         1,487
    Federal income tax
      provision              1,071           311        1,909           311
    Net income            $  1,747       $   507     $  3,115      $  1,176

    Net income per share  $   0.17       $  0.07     $   0.30      $   0.17
    Weighted average
     shares outstanding 10,429,785     7,311,298   10,269,951     6,755,743
 
 
 

                            ADVANCE PARADIGM, INC.
                              Balance Sheet Data
                            (dollars in thousands)

                       September 30, 1997          March 31, 1997

    Cash                         $ 54,562                $ 51,086
    Other current assets           52,496                  37,628
    Non-current assets             21,375                  18,759
        Total Assets             $128,433                $107,473
 

    Current liabilities          $ 81,898                $ 63,850
    Non-current liabilities           966                   1,095
        Total Liabilities          82,864                  64,945

    Stockholders' Equity           45,569                  42,528
    Total liabilities and
      stockholders' equity       $128,433                $107,473

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IRVING, Texas, Oct. 20 -- Advance Paradigm, Inc., (Nasdaq:ADVP), today announced they have been selected by Wellmark, Inc., to provide pharmacy benefit management services for approximately 1.2 million member lives covered by Wellmark, Inc. Under the agreement, Advance Paradigm will provide fully integrated pharmacy services including claims adjudication, mail service, formulary management, clinical services and network management as well as the Company's on-line comprehensive major medical program, AdvanceDirect (SM). In addition, Wellmark will utilize Advance Paradigm's health benefit management services to implement several disease management programs including diabetes, asthma and congestive heart failure. The five year agreement will become effective January 1, 1998.

Wellmark, Inc. conducts business in Iowa as Wellmark BlueCross and BlueShield of Iowa, and it's subsidiary, Wellmark of South Dakota, Inc., conducts business in South Dakota as Wellmark BlueCross and BlueShield of South Dakota. They are the dominant suppliers of health coverage in those respective states. In addition, Wellmark Community Insurance, Inc. currently operates in Illinois, Wisconsin and Nebraska.

``We are very pleased to announce this pharmacy and health benefit management agreement with Wellmark,'' said David D. Halbert, Chairman and Chief Executive Officer of Advance Paradigm. ``Our strategies of delivering innovative, cost-effective programs and uncompromised customer service are consistent with the philosophy at Wellmark.''

``The decision to select Advance Paradigm was based on its ability to deliver results through an integrated health benefit management strategy,'' said Linda Sufficool, Vice President, Pharmacy-Customer Service, Wellmark, Inc. ``Advance Paradigm's disease management programs will assist us in delivering positive outcomes for our members.''

Mr. Halbert continued, ``The first step in the disease management process is identifying those members most at risk for adverse medical outcomes. Once identified, these members will be given individual attention to improve the quality of medical care.''

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of more than 12 million lives includes HMOs, PPOs, BlueCross & BlueShield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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Advance Paradigm, Inc. and Pharmaceutical Care Network
Announce Formulary and Rebate Management Agreement
IRVING, Texas, Oct. 14 -- Advance Paradigm, Inc., (Nasdaq:ADVP), today announced the signing of a multi-year agreement to provide services for Pharmaceutical Care Network (PCN), a pharmacy benefit management company based in Sacramento, California. Under the agreement, Advance Paradigm will provide PCN with formulary and rebate management services to the majority of those 1.2 million members covered under Pharmaceutical Care Network's pharmacy benefit management programs. The two year agreement became effective October 1, 1997.

``We are very pleased to announce this pharmacy benefit management agreement with Pharmaceutical Care Network, Inc.,'' said David D. Halbert, Chairman and Chief Executive Officer of Advance Paradigm. ``The signing of this agreement rekindles a relationship our companies shared previously, and we are looking forward to assisting PCN as they compete in the national health care marketplace.''

John T. Skhal, Pharm.D., President of Pharmaceutical Care Network stated, ``Advance Paradigm's formulary management strategies focus on delivering clinically appropriate products at the lowest possible net cost. Their strategies are very consistent with PCN's, all of which focus on delivering maximum value and quality of care.''

PCN was established in 1984 as an information and services company focused on providing clients with managed pharmacy benefit services that enable them to better control the costs associated with prescription drug benefits while improving the quality of patient care. PCN is one of the leading providers of pharmacy benefit management services, including pharmaceutical care and disease management through a national pharmacy network.

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of more than 11 million lives includes HMOs, PPOs, BlueCross and BlueShield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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Advance Paradigm, Inc. and Finger Lakes Bluecross and Blueshield
Announce Pharmacy Benefit Management Services Agreement Renewal
IRVING, Texas, Aug. 4 -- Advance Paradigm, Inc., (Nasdaq:ADVP), today announced it has entered into a letter of intent to renew a multi-year agreement to provide pharmacy benefit management services for Finger Lakes BlueCross and BlueShield, based in Rochester, NY. Under the agreement, Advance Paradigm will continue to provide Finger Lakes BlueCross and BlueShield with clinical consultative services including formulary management and clinical intervention strategies. In addition, the Company will provide new services including mail service and network management support. Finger Lakes BlueCross and BlueShield will also have access to Advance Paradigm's health benefit management products including disease management. The three year agreement will become effective January 1, 1998, and covers approximately 800,000 members.

``Finger Lakes BlueCross and BlueShield is a very unique client, being one of the few community rated programs in the country'' said David Halbert, Chief Executive Officer of Advance Paradigm. ``Finger Lakes BlueCross and BlueShield has been one of the true innovators in managed care, and we are quite pleased to renew our long-standing relationship.''

Under its existing contract, the Company will continue to provide clinical services and will begin to provide the new services on the effective date. Advance Paradigm's integrated program is designed to help facilitate execution of the managed care strategy being employed in the Rochester, NY marketplace. Products such as AdvanceSelect(SM) which promotes therapeutic substitution of less expensive products, will provide Finger Lakes BlueCross and BlueShield with an effective tool in managing plan costs and driving appropriate drug therapy.

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of more than 10 million lives includes HMOs, PPOs, Blue Cross and Blue Shield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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Advance Paradigm, Inc. and the State of Kansas Announce
Pharmacy Benefit Management Services Vendor Selection
IRVING, Texas, Aug. 4 -- Advance Paradigm, Inc., (Nasdaq:ADVP), today announced that they have been selected by the State of Kansas to provide pharmacy benefit management services for the State of Kansas employees. Under the proposal accepted by the State, Advance Paradigm will provide the State of Kansas employees with fully integrated pharmacy services including: claims adjudication, mail service, formulary management, clinical services and network management. In addition, the State will have access to Advance Paradigm's health benefit management products including disease management and personal care management. The proposed multi-year agreement will become effective December 28, 1997, and covers approximately 90,000 members.

``We are very pleased to have been chosen to administer the State of Kansas' prescription program,'' said David D. Halbert, Chief Executive Officer of Advance Paradigm. ``Our experience with other state programs, coupled with our focus on integrated clinical strategies will provide the State of Kansas with the tools to successfully control drug costs, while at the same time provide their members quality benefits and the highest levels of customer service.'' ``In order to maximize the pharmacy benefit,'' Halbert continued, ``Advance Paradigm will be providing the State of Kansas with access to several proprietary clinical intervention strategies including: AdvanceChoice(SM), an innovative Formulary POS (point of service) MAC program; AdvanceSecure(SM), a clinically focused prior authorization program, and AdvanceSelect(SM), which promotes therapeutic substitution of less expensive products. Each of these programs facilitate clinically appropriate therapy at the lowest overall cost.''

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of more than 10 million lives includes HMOs, PPOs, Blue Cross and Blue Shield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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Advance Paradigm, Inc., Reports Record Fiscal 1998 First Quarter Revenues and Earnings
Net Income Before Taxes More Than Triples As Revenues Increase 56 Percent

IRVING, Texas, August 4 -- Advance Paradigm, Inc., (Nasdaq:ADVP), a leading independent provider of health benefit management (HBM) services today reported operating results for its fiscal 1998 first quarter ended June 30, 1997. For the first quarter, the Company generated revenues of $77.7 million and fully taxed net income of $1.4 million versus last year's $49.8 million and $669,000 for increases of 56 percent and 105 percent respectively. Earnings were $0.14 per share on a 63 percent increase in shares outstanding compared to $0.11 per share for the first quarter of 1997. No tax provision was recorded in the quarter ended June 30, 1996, as the result of available net operating loss carry forwards. On a fully taxed basis, earnings for the quarter ended June 30, 1996 would have been $0.07 per share.

David D. Halbert, Chairman and CEO, stated, ``The Company continues to experience strong growth in new clients and from an increase in member lives from existing clients. We are proud to report another record breaking quarter for revenues and net income. For the quarter ended June 30, 1997, the Company processed over 8.1 million pharmacy claims, an increase of 59 percent over the prior year's quarter.''

The Company also announced today that the State of Kansas has selected Advance Paradigm to provide pharmacy benefit management services to their approximately 90,000 members effective December 28, 1997. In addition, the Company announced it has entered into a letter of intent to renew their multi- year pharmacy benefit management services agreement with Finger Lakes BlueCross and BlueShield effective January 1, 1998. The agreement provides services to approximately 800,000 members.

Advance Paradigm, Inc., is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality integrated pharmacy benefit management(PBM) services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company continues to expand its HBM capabilities including customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm, Inc.'s client base of more than 10 million lives includes HMOs, PPOs, Blue Cross and Blue Shield organizations, Fortune 500 employers, insurance carriers and third party administrators.

The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward looking statements Factors which would cause or contribute to such differences include but are not limited to factors detailed in the Company's Securities and Exchange Commission filings.

 
 
 
                            ADVANCE PARADIGM, INC.
                      Condensed Statement of Operations
                   ($ in thousands, except per share data)
                                        Three Months Ended June 30
                                            1997            1996
    Revenues                             $77,710         $49,809
    Cost of revenues                      74,064          47,454
    Selling, general and administrative    2,112           1,714
       Operating income                    1,534             641
    Interest income                          672             205
    Interest expense                           0             177
       Income before taxes                 2,206             669
    Federal income tax provision             838               0
       Net income                         $1,368            $669
    Net income per share                   $0.14           $0.11
    Weighted average shares
    outstanding                       10,110,116       6,200,187
                            ADVANCE PARADIGM, INC.
                              Balance Sheet Data
                            (dollars in thousands)
 
                                      June 30, 1997     March 31, 1997
    Cash                                  $51,696         $51,086
    Other current assets                   37,767          37,628
    Non-current assets                     19,845          18,759
       Total assets                      $109,308        $107,473
    Current liabilities                   $64,271         $63,850
    Non-current liabilities                 1,184           1,095
       Total liabilities                   65,455          64,945
    Stockholders' equity                   43,853          42,528
    Total liabilities and
    stockholders' equity                 $109,308        $107,473
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Advance Paradigm, Inc. and the UMWA Health and Retirement
Funds Announce Pharmacy Services Agreement
Irving, Texas, May 21 -- Advance Paradigm, Inc., (Nasdaq:ADVP), today announced a letter of intent providing for a multi-year agreement to provide pharmacy benefit management services for the United Mine Workers of America Health and Retirement Funds ("Funds"). Under the proposed agreement, Advance Paradigm will provide pharmacy benefit management services, several disease management programs and assistance with the Funds' medical management initiatives.

"The opportunity to work with the Funds is very exciting for us," said David D. Halbert, Chief Executive Officer of Advance Paradigm. "The Funds present a unique set of health care management challenges which our health benefit management initiatives have been designed to address. Through a collaborative effort with the Funds' staff, we will work to positively impact not only the Funds' beneficiaries' quality of care, but also help control the Funds' overall health care costs."

"The demographics for the Funds' beneficiaries are quite different from what we typically see," Halbert continued. "With an average age of nearly 78, this population faces the many challenges of advancing age and its associated illnesses. Advance Paradigm's initial disease management focus will be on Diabetes, Hypertension and Congestive Heart Failure which all have significant impact on this geriatric population."

The UMWA Health and Retirement Funds is a group of six multi-employer benefit plans that provide benefits to eligible coal industry retirees and their families. The three health benefit plans consist of the Combined Benefit Fund, the 1992 Benefit Plan and the 1993 Benefit Plan and covers approximately 90,000 beneficiaries located primarily in rural areas. These plans provide over $100 million per year in pharmacy benefits.

Advance Paradigm, Inc., founded in 1986 and based in Irving, Texas, is a leading independent provider of health benefit management (HBM) services. The Company provides cost-effective, high quality, integrated PBM services including innovative clinical programs, mail service and sophisticated claims adjudication with PPO and EPO network management. The Company's expanding HBM programs include customized disease management programs targeted at specific disease states and personal care management (PCM) capabilities. Advance Paradigm's client base of approximately 10 million lives includes HMOs, PPOs, Blue Cross and Blue Shield organizations, Fortune 500 employers, insurance carriers and third party administrators.

This press release includes statements which may constitute forward- looking statements under the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings.

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