Press Release

PEABODY, Mass., March 2 /PRNewswire-FirstCall/ -- PHC, Inc., d.b.a. Pioneer Behavioral Health (OTC Bulletin Board: PIHC), a leading provider of inpatient and outpatient behavioral health services and pharmaceutical research, today announced that Bruce A. Shear, Pioneer's President and Chief Executive Officer, Robert Boswell, Senior Vice President, will participate in the ValueRich Small-Cap Financial Expo, March 9-11, in Palm Beach, Florida. The event is hosted at the new 200,000 square-foot Palm Beach County Convention Center. The Company will make a formal presentation the morning of March 11.

Mr. Shear and Mr. Boswell will provide Expo visitors with information on Pioneer's record financial performance, related to operational improvements in all three of the Company's divisions: inpatient and outpatient behavioral health care services, clinical research and telephonic-based referral and employee assistance services. The Company recently reported record revenues for the second fiscal quarter of $8.1 million, up 24 percent from the $6.5 million reported in the second quarter of fiscal 2004. Revenue from pharmaceutical studies related to the acquisition of Pivotal Research Centers, LLC, increased nearly 500 percent to $1.19 million compared to $201,000 reported in the year ago period and nearly equaled the entire revenue of $1.20 million reported for fiscal 2004, which included only two months of contribution from Pivotal. The Company also reported record net income of $408,804, or $0.02 per basic share, up from $2,659, or $0.00 per basic share for the second quarter of fiscal 2004. This was the Company's 16th consecutive quarter of operating profitability, with the exception of the previously reported litigation settlement and related legal costs. Mr. Shear will also be available to discuss the recent expansion of the Detroit Medical Center and the $998,000 expansion of the Wellplace division contract with the Detroit-Wayne County (Michigan) Community Mental Health Agency.

One-on-one meetings can be arranged with management by contacting Hayden Communications at 843-272-4653.

About ValueRich, Inc.

ValueRich Inc. is an innovative company publishing a quarterly lifestyle/business magazine, ValueRich Magazine, and producing an annual Small-Cap Financial Expo. The ValueRich Small-Cap Financial Expo is a three day conference, with interactive panel discussions, seminars and speakers on a wide variety of topics targeted at bringing together executives of emerging, undervalued small-cap companies with investment professionals including research analysts, fund managers, money managers, institutional investors, investment bankers, and brokers. For more information, visit http://www.valuerichonline.com/convention.

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 www.phc-inc.com or www.haydenir.com.

Statement under the Private Securities Litigation Reform Act of 1995:

This press release may include "forward-looking statements" that are subject to risks and uncertainties. Forward-looking statements include information about possible or assumed future results of the operations or the performance of the company and its future plans and objectives. Various future events or factors may cause the actual results to vary materially from those expressed in any forward-looking statements made in this press release. For a discussion of these factors and risks, see the company's annual report on Form 10-KSB for the most recently ended fiscal year.

     Company Contact:             Investor Relations Contact:
     PHC, Inc.                    Hayden Communications, Inc.
     Bruce A. Shear               Matthew Hayden
     978-536-2777                 843-272-4653


SOURCE  PHC, Inc.
    -0-                             03/02/2005
    /CONTACT:  Bruce A. Shear of PHC, Inc., +1-978-536-2777; or Investors,
Matthew Hayden of Hayden Communications, Inc., +1-843-272-4653, for PHC, Inc./
    /Web site:  http://www.valuerichonline.com/convention /
    /Web site:  http://www.haydenir.com /
    /Web site:  http://www.phc-inc.com /
    (PIHC)

CO:  PHC, Inc.; ValueRich, Inc.; Pioneer Behavioral Health
ST:  Massachusetts, Florida
IN:  HEA MAC FIN OTC
SU:  TDS

AI-BP
-- LAW050 --
4985 03/02/2005 09:06 EST http://www.prnewswire.com