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PHYSICIAN COMPUTER NETWORK ANNOUNCES MULTI-YEAR LEASE FINANCING AGREEMENT

 PHYSICIAN COMPUTER NETWORK ANNOUNCES MULTI-YEAR LEASE
 FINANCING AGREEMENT
 LAURENCE HARBOR, N.J., July 9 /PRNewswire/ -- Physician Computer Network, Inc. (NASDAQ: PCNI) announced today that PCN and Carolan Leasing Corporation have entered into an agreement under which Carolan Leasing in conjunction with Fleet Credit Corporation will make available to PCN up to $25 million of lease financing annually.
 The financing is available to be used by PCN to fund new Physician Membership transactions, covering the purchase of new computer systems, the cost of cabling, installation and training and five-year prepaid maintenance agreements, in addition to funding other PCN operating expenses.
 Commenting on the agreement, Jerry Brager, PCN chairman and chief executive officer, said, "The process of establishing a long-term, multi-million dollar line of credit agreement has been complex and time consuming, but well worth it. We are extremely pleased that Carolan sees the financial value in funding this growth phase of our business. Over the next five years of our business plan, this off balance sheet lease financing agreement could make available up to $125 million in network funding. It is a major impetus for fulfilling the goals established in our business plan and responds to the financial requirements we have for network expansion."
 Also commenting on the agreement, Dick Carolan, chairman and chief executive officer of Carolan Leasing Corporation, said, "Carolan Leasing is pleased to participate in the funding of PCN's network. We think the physician office marketplace is one which will provide Carolan with continuing growth opportunities."
 PCN is the first company to create a national, interactive, two-way and verifiable computer link between office-based physicians and the healthcare/pharmaceutical industries. PCN provides both physicians and healthcare organizations a cost-effective means of information exchange which increases practice productivity. The PCN Network also enables its physician members to electronically transmit medical insurance claims to Medicare and certain Blue Cross/Blue Shield providers.
 -0- 7/9/92
 /CONTACT: Jack Mortell, senior vice president, or John de Elorza, vice chairman, both of Physician Computer Network, 908-290-7711/
 (PCNI) CO: Physician Computer Network; Carolan Leasing Corp. ST: New Jersey IN: HEA SU:


TM -- NY062 -- 7949 07/09/92 15:26 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
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