Date:6/17/2008

ectors approved one-time bonuses paid in the first quarter of 2008 related to the Company's IPO of $0.3 million, which decreased the Company's pro-forma fully diluted earnings per share for the first quarter of 2008 by $0.01. IPC computes its adjusted pro-forma fully diluted earnings per share excluding these one-time bonuses to reflect its on-going operations. IPC's management believes that while excluding the one-time bonuses from the calculation of pro-forma fully diluted earnings per share is considered a non-GAAP measure, it more clearly depicts the operating performance of the Company and enables more appropriate period-to-period measures. However, adjusted pro-forma fully diluted earnings per share is a non-GAAP measure and thus should not be used as a substitute for pro-forma fully diluted earnings per share.

The Company's guidance for 2008 is based upon assumptions that the Company's management believes reasonable, but there can be no assurance that these future results will be achieved.

About IPC The Hospitalist Company

IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) is a leading national physician group practice company focused on the delivery of hospitalist medicine services. IPC's physicians and affiliated providers manage the care of hospitalized patients in coordination with primary care physicians and specialists. The Company provides its hospitalists with the comprehensive training, information technology, and management support systems necessary to improve the quality and reduce the cost of inpatient care in the facilities it serves. For more information, visit the IPC website at http://www.hospitalist.com.

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SOURCE IPC The Hospitalist Company, Inc. Copyright©2008 PR Newswire. All rights reserved

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