RESTON, Va., June 19 /PRNewswire/ -- PHP Healthcare Corporation (NYSE: PPH) reported that it has received a number of inquiries regarding a research report published by a person or entity using the name "Center for Financial Research & Analysis, Inc." The Company does not know this entity which never communicated with the Company prior to issuance of its report or gave the Company any opportunity to respond to any legitimate questions or concerns it may have had. The report expressed purported "concerns" regarding various accounting and internal control issues.
The Company has reviewed the research report and, to the extent it implied the existence of any irregularities in the Company's practices, it is false. The Company believes it may be the victim of a manipulative scheme by short-sale stock manipulators and that the research report may have been used by those who would seek to profit by any downturn in the Company's stock.
In any event, the Company reaffirms the complete accuracy of its prior published financial reports and disclosure.
Based in Reston, Virginia, PHP Healthcare is a full-serviced managed care organization with 20 years experience in developing innovative health care delivery systems for public agencies, corporations, communities and large population centers. The Company operates more than 70 healthcare projects in 22 states.
PHP Healthcare press releases available through Company News On-Call by fax, 800-758-5804, extension 696750, or at http://www.prnewswire.com on the Internet.
-0- 6/19/96
/CONTACT: Charles H. Robbins, chairman and CEO, or Jack M. Mazur, president, of PHP Healthcare, 703-758-3600/
(PPH)
CO: PHP Healthcare Corporation ST: Virginia IN: HEA SU:
KW-JA -- DCW018 -- 1609 06/19/96 11:17 EDT

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