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PHYSICIAN COMPUTER NETWORK REPORTS SECOND-QUARTER RESULTS

 PHYSICIAN COMPUTER NETWORK REPORTS SECOND-QUARTER RESULTS
 LAURENCE HARBOR, N.J., Aug. 14 /PRNewswire/ -- Physician Computer Network, Inc. (NASDAQ: PCNI) today reported revenues for the second quarter ended June 30, 1992, of $689,000 compared with $345,000 in the second quarter of 1991. The company reported a net loss for the quarter of $4.9 million, or $.57 per share, compared with a net loss of $4.8 million, or $.87 per share for the same period in 1991.
 The 1992 second-quarter results are after dividends payable on the company's preferred stock, amounting to approximately $712,000, or $.08 per share.
 The second-quarter loss was anticipated, and reflects the company's high fixed costs associated with adding and supporting Physician Members, marketing activities and establishing communication data-links on the company's network at a time when revenues have been nominal.
 The company reported revenues for the six months ended June 30, 1992, of $1,331,000 compared with $793,000 in the first six months of 1991. The net loss for the six months was $9.6 million, or $1.12 per share, compared with a net loss of $10.4 million, or $1.88 per share for the same period in 1991.
 The 1992 six-month results are after dividends payable on the company's preferred stock, amounting to approximately $1,424,000 or $.17 per share.
 The net operating loss (excluding dividends) improved year to year, for the first six months, by approximately $2,218,000 or 21 percent. This reflects the growth in the number of Physician Members and the resulting revenue, as well as the company's focus on cost and expense containment.
 PCN operates a national interactive electronic communications network linking its office-based Physician Members to heathcare organizations such as hospitals, clinical laboratories, Medicare, insurance carriers, pharmaceutical manufacturers and others.
 PHYSICIAN COMPUTER NETWORK, INC.
 Statement of Operations Data
 Periods ended June 30 Three Months Six Months
 1992 1991 1992 1991
 Revenues $688,873 $344,507 $1,330,869 $792,656
 Costs and expenses:
 Cost of network
 revenues 2,012,811 2,378,565 4,196,312 5,360,236
 Selling, general &
 admin. expenses 2,416,374 1,389,391 4,573,351 3,197,063
 Interest expense, net
 of interest inc. 406,595 1,412,366 752,454 2,644,308
 Net loss bef. pref.
 stock requirements (4,146,907) (4,835,815) (8,191,248) (10,408,951)
 Preferred stock div.
 requirements (712,044) -- (1,424,088) --
 Net loss (4,858,951) (4,835,815) (9,615,336) (10,408,951)
 Loss per common share:
 Before preferred
 stock dividend $(.49) $(.87) $(.95) $(1.88)
 Preferred stock div. (.08) -- (.17) --
 Net loss $(.57) $(.87) $(1.12) $(1.88)
 Weighted average common
 shares outstdg. 8,598,956 5,549,748 8,598,956 5,549,748
 -0- 8/14/92
 /CONTACT: Jack Mortell, senior VP, or John de Elorza, vice chairman of Physician Computer Network, 908-290-7711; or Kathy B. Liebmann of Gavin Anderson & Co., 212-921-1060, for Physician Computer Network/
 (PCNI) CO: Physician Computer Network, Inc. ST: New Jersey IN: CPR SU: ERN


CK -- NY085 -- 0239 08/14/92 17:42 EDT
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Date:Aug 14, 1992
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