Continucare Corporation Reports Non-Payment of Interest.

MIAMI--(BUSINESS WIRE)--June 4, 1999--

Continucare Corporation (AMEX:CNU) today announced that it did not make the semi-annual interest payment of interest of $1.8 million due on April 30, 1999, within the 30-day grace period as provided under its 8% convertible subordinated notes due 2002 (the "Notes"). As a result, the holders of not less than 25% of the principal amount of the Notes may declare the entire principal balance due under the Notes of $45 Million at May 31, 1999 and any unpaid accrued interest of approximately $2.4 Million at May 31, 1999 due and payable immediately. The Company is continuing its negotiations with the holders of the Notes to discuss a possible restructuring of the Notes. Such restructuring could include significant issuances of common shares, and/or additional borrowings. There can be no assurance that the discussions with the holders of the Notes will be successful or that the Company would be able to satisfy its obligations under the Notes if the Notes are accelerated.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of Continucare to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For more complete information concerning factors which could affect Continucare's results, reference is made to Continucare's registration statements, reports and other documents filed with the Securities and Exchange Commission.