Accredo Health Secondary Stock Offering Completed.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--Aug. 18, 2000

Accredo Health, Incorporated (Nasdaq:ACDO) today announced that the Securities and Exchange Commission has declared effective a registration statement for a public offering of its Common Stock. The stock is traded on the Nasdaq National Market under the trading symbol ACDO.

The offering price for the 2.4 million shares being issued and offered by the Company was $34 a share. The Company has granted the underwriters a 30-day option to purchase up to an additional 360,000 shares to cover over-allotments, if any, incurred in connection with the offering. The managing underwriters for the offering are Chase H&Q and SunTrust Equitable Securities, acting as lead managers, and Banc of America Securities LLC and First Union Securities, Inc.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 securities law of any such state.

Offers may only be made by means of a prospectus. A copy of the Prospectus relating to the offering may be obtained from Chase H&Q, 230 Park Avenue, 20th Floor, New York, NY 10169, 212/207-1400; SunTrust Equitable Securities Corporation, 511 Union Street, Nashville, TN 37219, 615/780-9300; Banc of America Securities LLC, 9 W. 57th Street, 47th Floor, New York, NY 10019, 212/583-8000; or First Union Securities, 7 St. Paul Street, Baltimore, MD 21202, 443/263-6400.

Accredo Health, Incorporated and its two subsidiaries, Hemophilia Health Services, Inc. and Nova Factor, Inc., provide specialized contract pharmacy and related services pursuant to agreements with biotechnology drug manufacturers relating to the treatment of patients with certain costly, chronic diseases. The Company's services include collection of timely drug utilization and patient compliance information, patient education and monitoring through the use of written materials and telephonic consultation, reimbursement expertise and overnight drug delivery.

In addition to historical facts, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Matters subject to forward-looking statements involve risks and uncertainties, that could cause actual outcomes and results and the timing of certain events to differ materially from these statements. Risks and uncertainties include without limitation, the Company's dependence on relationships with a limited number of drug manufacturers, reimbursement and payor related risks, risks associated with making acquisitions, application of government laws and regulations and general economic, competitive, and technological risks that may affect the Company's business and prospects. These and other risks and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission.