PHCC Priority Healthcare b (MM)

Priority Healthcare Files for Extension of 10-K Filing Date LAKE MARY, Fla., March 17 /PRNewswire-FirstCall/ -- Priority Healthcare Corporation (NASDAQ:PHCC) today announced that it has filed an extension notification with the SEC for its Form 10-K. Priority Healthcare Corporation (the "Company") has been working diligently to complete its Annual Report on Form 10-K and to complete management's report on its assessment of internal control over financial reporting. However, these matters have not yet been completed and therefore the Company is unable, without unreasonable effort or expense, to finalize its Annual Report on Form 10-K by the March 17, 2005 deadline. As of the date of this press release, the Company has identified no material adjustments to the unaudited results of operations announced on February 24, 2005 for the quarter and year ended January 1, 2005 and no material weaknesses in the Company's internal control over financial reporting. In connection with management's evaluation of the Company's internal control over financial reporting, it was determined that the Company has deficiencies in its system of internal control. Upon completion, the Company may find that its deficiencies are significant or constitute a material weakness. However, that cannot be determined at this stage. The Company expects to file its Annual Report on Form 10-K within 15 calendar days of the due date. About Priority Healthcare Corporation Priority Healthcare is the premier healthcare services company providing innovative, high quality and cost-effective solutions that enhance quality of life. As a national specialty pharmacy and distributor, Priority Healthcare provides biopharmaceuticals, complex therapies, related disease treatment programs and a portfolio of other service offerings for patients, payors, physicians and pharmaceutical manufacturers. The growing number of specialty areas serviced by Priority Healthcare include: oncology, gastroenterology, reproductive endocrinology, neurology, hematology, pulmonology, ophthalmology, rheumatology, endocrinology, infectious disease and nephrology, as well as ambulatory surgery centers. Additional information regarding Priority Healthcare is available online at http://www.priorityhealthcare.com/ . Certain statements included in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our expectations or beliefs and involve certain risks and uncertainties, including those described in our public filings with the United States Securities and Exchange Commission; also including, but not limited to, changes in interest rates, competitive pressures, changes in customer mix, changes in third party reimbursement rates, financial stability of major customers, changes in government regulations or the interpretation of these regulations, changes in supplier relationships, growth opportunities, cost savings, revenue enhancements, synergies and other benefits anticipated from acquisition transactions, difficulties relative to integrating acquired businesses, the accounting and tax treatment of acquisitions, and asserted and unasserted claims, which could cause actual results to differ from those in the forward-looking statements. The forward-looking statements by their nature involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date herein. http://www.newscom.com/cgi-bin/prnh/20030417/PHCLOGO http://photoarchive.ap.org/ DATASOURCE: Priority Healthcare Corporation CONTACT: Stephen Saft, Chief Financial Officer, Priority Healthcare Corporation, +1-407-804-6700 Web site: http://www.priorityhealthcare.com/

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