Complete Management, Inc. announces purchase of physician practice management company for a ten physician primary care practice.

NEW YORK, NY--(BUSINESS WIRE)--AUGUST 29, 1996--COMPLETE MANAGEMENT, INC. (ASE: CMI) announced that it has purchased a physician practice management company which has a 30 year management contract for a ten physician primary care medical practice. The practice operates four offices located in northern Westchester County, a suburban area north of New York City.

"This is an important transaction for CMI," said Steven Rabinovici, Chairman and CEO of CMI. "It expands our business in the primary care field and geographically moves us into a very desirable suburban area. In addition, this company has negotiations under way and plans to further expand in northern Westchester County and also into adjoining Putnam and Orange Counties, through management arrangements with additional primary care practices. The existing business should generate revenues to CMI of about $4 million in the next twelve months."

"Further," Mr. Rabinovici added, "with the completion of this transaction, CMI now manages a total of 35 physicians, up from 16 on December 31, 1995, as well as serving about 700 additional physicians through its billing and collection subsidiary. Other transactions now under letters of intent that are expected to close in the near future will result in a significant increase in the number of physicians under management."

CMI offers a broad range of management and support services for medical practice groups and hospitals in the greater New York City metropolitan area.

CONTACT: Complete Management Inc.

Steve Rabinovici

Chairman and Chief Executive Officer

[phone]

or

Arthur Goldberg

Chief Operating Officer 

[phone]

or

Lippert/Heilshorn & Associates

Keith Lippert

[phone]