Computer Physicians Network, Inc. Files Registration Statement for Public Offering of Common Stock

MORRIS PLAINS, N.J., April 2, 1996 -- Physician Computer Network Inc. (Nasdaq-NNM: PCNI) announced today that it had filed a Registration Statement with the Securities and Exchange Commission relating to a proposed public offering of 7,000,000 shares of its common stock.

Of the 7,000,000 shares of common stock, 5,067,783 shares are being offered by the Company and 1,932,217 shares are being offered by Equifax Inc. (NYSE: EFX). The shares offered by Equifax represent the shares Equifax is entitled to receive upon the conversion in full of the five year, $10 million convertible subordinated promissory note that was issued to Equifax in February 1995, bearing interest at 6 percent per annum. The managing Underwriters of the offering are Lehman Brothers Inc., NatWest Securiti es Limited, and Vector Securities International, Inc.

A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This communication shall not constitute an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the secu rities laws of any such state.

The Company intends to use the net proceeds of this offering to finance future acquisitions, and for general corporate purposes, including working capital. In addition, the Company may use a portion of the net proceeds at any time prior to April 1, 1997, to exercise its right to repurchase 2,325,000 shares of common stock held by IBM Credit Corporation for $4.75 per share.

Physician Computer Network publishes and licenses medical practice management software products designed to link office-based physicians with hospitals, clinical laboratories, insurance carriers, managed care providers, Blue Cross/Blue Shield plans, Medicare and Medicaid intermediaries and pharmaceutical companies.