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Phyhealth Files Historical Financials With the Pink Sheets and Takes Next Step Toward Becoming Fully Reporting

MIAMI, April 16 /PRNewswire-FirstCall/ -- Physicians Healthcare Management Group, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenance organizations (HMOs) in partnership with physicians, today announced that it has filed with the Pink Sheets its audited financials for the periods ended December 31, 2005, December 31, 2006, and the nine months ended September 30, 2007. As a result of filing its historical financials, Phyhealth expects to be designated "Current Information" (identified by a Pink Checkmark icon) by the Pink Sheets.

Mr. Robert Trinka, chairman and chief executive officer, stated, "We are pleased to commence filing all the necessary reports to be designated as a current filer with the Pink Sheets, which takes us one step closer towards becoming fully reporting with the SEC. The financial results filed this morning reflect our historical operations as a development stage company, as we lay the ground work for the launch our first HMO. We believe these filings will help to broaden exposure for Phyhealth and increase transparency for our investors as we prepare to begin operations of our Pilot HMO later this year."

About Physicians Healthcare Management Group, Inc.

Physicians Healthcare Management Group, Inc. (Phyhealth) is a developer of community-based health maintenance organizations (HMOs) that are owned and operated in partnership with the participating physicians. Phyhealth Plans are designed to deliver high-quality affordable healthcare by enabling physicians to assume end-to-end management of healthcare for their patients. The Phyhealth model empowers physicians to provide preventive healthcare and proactively manage their patient's general health by aligning incentives amongst the HMO, physician and the patient. Phyhealth intends to offer additional value-added products and services in cooperation with physicians, including medical malpractice insurance, local care facilities and wellness programs, as well as information technologies such as secure electronic medical records.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Physicians Healthcare Management Group, Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. Additional information is available at:

SOURCE Physicians Healthcare Management Group, Inc. (Phyhealth)
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