Healthcomp Evaluation Services Engages Magnum Financial Group

Healthcomp Evaluation Services Engages Magnum Financial Group, Prepares to Be Fully Reporting by the First Quarter of 2000

SARASOTA, Fla.--(BUSINESS WIRE)--Nov. 4, 1999--Healthcomp Evaluation Services Corp. (HESc) (OTCBB:HCEV), a national occupational health-services company, Thursday announced that it has engaged Magnum Financial Group LLC, a Los Angeles-based financial communications specialist, to broaden the company's audience within the investment community and financial media so as to increase interest and participation in HESc's publicly traded securities.

Through Magnum, the company plans to enhance the communication of financial and corporate information with current stockholders, potential stockholders, brokers, analysts and other members of the investment community.

Magnum's communication programs are financially oriented and designed to get the company's investment story to specific target audiences. News releases, fact sheets, corporate profiles and other visual presentations produced by the firm are structured to appeal to financial professionals at various sophistication levels.

When appropriate, Magnum will incorporate investor conference calls with management, investment conferences with investment professionals and individual investors, and targeted distribution of financial information into its disciplined and proven program of financial communications.

Commenting on the engagement, John Thomas, chairman and chief executive officer of Healthcomp Evaluation Services, remarked: "We are very excited about bringing Magnum on board. We have a great company at HESc -- now we intend to make sure that both our current and potential stockholders hear the company's short-range accomplishments and long-term plans for accelerated growth."

Michael S. Manahan, a principal at Magnum Financial Group, offered: "We are certainly pleased to have been selected to represent Healthcomp Evaluation Services Corp. We are very impressed with the company's management and the opportunities that exist for the company in the rapidly growing occupational health services business.

"The domestic market for full-service substance-abuse screening programs is estimated to be a $1.2 billion industry, and when one adds in related services provided by HESc such as health-related work-site surveillance, physical examinations and background checks, total industry revenues come to over $5 billion per year."

Manahan added, "In choosing clients, we focus on companies that have identifiable competitive advantages and significant opportunities for growth, and we believe that HESc certainly satisfies both of these criteria."

About Healthcomp Evaluation Services

Healthcomp Evaluation Services markets health/medical-assessment products and services nationally with a focus on drug and alcohol testing, medical screening/surveillance services, specimen collections and wellness programs. HESc's systems are designed to interface with some of the most sophisticated health-care reporting systems in the nation.

Health screening is only one component of HESc's comprehensive range of health-related services. In the substance-abuse arena, the company acts as a third-party administrator handling various aspects of both mandated and nonmandated drug and alcohol testing programs. The substance-abuse unit located in Bismarck, N.D., services more than 400 clients.

The company also operates a fleet of mobile vehicles that range from small, specialized units performing specific tests to large semi-trailers that are fully equipped with X-ray, mammography, EKG, pulmonary, hearing, sight and osteoporosis testing equipment. By performing screening services on-site, these mobile units provide significant cost savings for employers.

Healthcomp's impressive list of medical-screening customers includes Cigna Health Systems; Florida Power; Commonwealth Edison; Humana Health Corp.; Publix Supermarkets; American Steamship Corp.; Westinghouse Corp.; SONY-American Video; Union Pacific Railroad; Burlington Northern-Sante Fe Railroad; Northwest Airlines; Allied Van-Lines; Mortenson Construction; the Chicago Bulls, Blackhawks and Bears; and the NBA Draft, among others.

HESc maintains offices in numerous locations throughout the country, including Chicago; Minneapolis; Bismarck; Sarasota and Clearwater, Fla.; Pittsburgh; Rock Springs and Gillette, Wyo.; Washington, D.C.; Kansas City, Mo.; and Shreveport, La.

Except for historical financial information that may be contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including but not limited to such factors as market demand, pricing, and changes in worldwide economic conditions.