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Pioneer Behavioral Health to Present at Equities' Discovery Day XI Conference, Wednesday, September 15th, 2004 in NYC

PEABODY, Mass., Sept. 9 /PRNewswire-FirstCall/ -- PHC, Inc., d.b.a. Pioneer Behavioral Health (OTC Bulletin Board: PIHC - News), a leading provider of inpatient and outpatient behavioral health services and pharmaceutical research today announced that Bruce A. Shear, President and Chief Executive Officer will present at the September 15, 11th Equities' "Discovery Day" Conference in New York City.

Pioneer will be one of several public companies presenting in the all-day conference which Equities Magazine is hosting. The event will be simultaneously web cast and can be logged on to the URL: http://www.vcall.com/CEPage.asp?ID=89137.

If you are in interested in attending, please RSVP to Equities Magazine at (914) 715-7589 or register online at www.equitiesmagazine.com

Mr. Shear's presentation is slated for 8:30 a.m. at the La Belle Epoque, (827 Broadway at 12th Street, on Broadway near Union Square). The presentation will include a corporate and management overview, key industry drivers, corporate milestones, the Company's growth initiatives, and a financial summary, including a discussion of the Company's recently announced record financial results for the fourth quarter and fiscal 2004 year, which included a 183 percent increase in profitability in the fourth quarter, and 20% percent increase in revenues for the fourth quarter.

About Pioneer Behavioral Health

Pioneer Behavioral Health's core business provides inpatient and outpatient behavioral healthcare services. The company contracts with national insurance companies, major transportation and gaming companies to provide behavioral health services. Pioneer also owns and operates Wellplace.com, a leading Internet-based provider of behavioral health services to consumers and professionals, and Pivotal Research Centers, Inc. a Nationally recognized clinical research company. For more information, please visit our web site at www.phc-inc.com or www.haydenir.com.

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. These factors and risks are discussed in the company's annual report on Form 10-KSB for the years ended June 30, 2003 and 2002, copies of which were filed with the Securities and Exchange Commission, and in our quarterly reports on Form 10-Q filed with the Securities and Exchange Commission since October 2003.

For further information, please contact: Bruce A. Shear of PHC, Inc., +1-978-536-2777; or Investor Relations, Matthew Hayden of Hayden Communications, Inc., +1-858-456-4533, for PHC, Inc.