Press Release

PEABODY, Mass.--(BUSINESS WIRE)--Aug. 28, 2007--PHC, Inc. (AMEX:PHC) d.b.a. Pioneer Behavioral Health, a leading provider of inpatient and outpatient behavioral health services and pharmaceutical research, has engaged the Liolios Group to lead its investor relations and financial communications efforts.

"The Liolios Group brings many years of industry experience and expertise in helping companies build quality, long-term relationships with leading analysts, money managers, and institutions," said Bruce A. Shear, president and CEO of Pioneer Behavioral Health. "We are confident Liolios Group's team of talented professionals will help us deliver our company's message more effectively to our shareholders and raise our profile throughout the investment community, the financial media, and our specific target markets."

Scott Liolios, president of the Liolios Group, stated, "Pioneer represents a tremendous growth story, and we look forward to communicating this message to shareholders and members of the financial community. Pioneer has a reputation for excellence, and we are confident our services will reflect the company's standards and help enhance shareholder value."

About Liolios Group, Inc.

The Liolios Group, Inc. is a highly selective and comprehensive investor relations firm specializing in small and micro-cap companies. By design, Liolios Group represents only a handful of clients, permitting a strong, individualized focus, and facilitating broader exposure to the financial community. For more information about the Liolios Group visit http://www.liolios.com.

About Pioneer Behavioral Health

Pioneer Behavioral Health operates companies that provide inpatient and outpatient behavioral health care services, clinical research and Internet- and telephonic-based referral services. The companies contract with national insurance companies, government payors, and major transportation and gaming companies, among others, to provide such services. For more information, please visit http://www.phc-inc.com.

    CONTACT: PHC, Inc.
             Bruce A. Shear
             President and CEO
             978.536.2777
             or
             Investor Contact:
             The Liolios Group, Inc.
             Scott Liolios or Ron Both, 949.574.3860
             ron@liolios.com

    SOURCE: PHC, Inc.