Press Release

PEABODY, Mass., Dec. 31, 2010 /PRNewswire via COMTEX/ --

PHC, Inc., d/b/a Pioneer Behavioral Health (NYSE Amex: PHC), a leading provider of inpatient and outpatient behavioral health services, today announced that Bruce A. Shear, Pioneer's president and CEO, will present at the Sidoti & Company, LLC Semi-Annual New York Micro-Cap Conference at 11:20 a.m. on Monday, January 10, 2011 in the Estate 7/Plymouth room at the Grand Hyatt New York Hotel, Park Avenue at Grand Central Station. Pioneer management will be available during the day for one-on-one meetings.

Mr. Shear will discuss the Company's growth strategy that is driving strong operating results. For its fiscal 2011 first quarter, ended September 30, 2010, net patient revenue growth and expanding gross margins resulted in the Company's seventh consecutive quarter of profitability. Carefully managed expenses, coupled with the expanding revenues, has allowed the Company to leverage its infrastructure more efficiently. Pioneer also saw the positive effect of the Centers for Medicare and Medicaid Services (CMS) approval on patient census at the Seven Hills Behavioral Institute facility. Seven Hills achieved profitability in September, the first full month of profitability for this facility.

A copy of the investor presentation that will accompany management's group presentation will be available at the Pioneer corporate website (www.phc-inc.com) prior to the presentation.

Sidoti & Company, LLC

Sidoti & Company, LLC Micro-Cap Conference is one of the largest micro-cap focused investor events in the U.S., with over 400 institutional investor attendees at the previous micro-cap conference. For more information or to register for the conference, please contact Justin Ruiss by phone at (212) 453-7008 or via email at jruiss@sidoti.com.

Sidoti & Company, LLC, founded in 1999, continues to set the Wall Street standard for small-cap equity research. Analysts mine dozens of industries to provide unbiased, institutional-quality research on more than 500 largely undiscovered, profitable companies at a market capitalization below $3 billion. The firm, also, is quickly becoming the leading provider of research in the micro-cap arena. Sidoti & Company, LLC, now covers more than 50 names in that sector. The number is growing steadily.

About PHC d/b/a Pioneer Behavioral Health

PHC, Inc., d/b/a Pioneer Behavioral Health, is a national healthcare company providing behavioral health services in five states, including substance abuse treatment facilities in Utah and Virginia, and inpatient and outpatient psychiatric facilities in Michigan, Pennsylvania, and Nevada. The Company also offers internet and telephonic-based referral services that includes employee assistance programs and critical incident services. Contracted services with government agencies, national insurance companies, and major transportation and gaming companies cover more than one million individuals. Pioneer helps people gain and maintain physical, spiritual and emotional health through delivering the highest quality, most culturally responsive and compassionate behavioral health care programs and services. For more information, visit www.phc-inc.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-K for the most recently ended fiscal year.

SOURCE PHC, Inc., d/b/a Pioneer Behavioral Health