VIPS ACQUIRES LIFE SCIENCES COMPANY CB TECHNOLOGIES

Baltimore, MD – July 1, 2003 – VIPS, Inc., a leading provider of healthcare business intelligence solutions, today announced the acquisition of CB Technologies, an Exton, PA-based creator of MetaTrial ™ suite of clinical solutions, including MetaTrial electronic data capture (EDC) software, which is widely recognized in the biomedical market. The transaction closed on June 30, 2003.

CB Technologies ’ MetaTrial and related services streamline the collection, analysis and reporting of data in the clinical trial process for pharmaceutical, biotechnology, medical device and contract research organizations (CROs). Customers of CB Technologies include some of the leading pharmaceutical and CROs in the world.

“ CB Technologies is a good match for VIPS and is an integral component of our strategic expansion initiative, ” says Jenny Morgan, VIPS ’ chief executive officer and president. “The company is a leading EDC solution provider with strong pharmaceutical customer relationships. It markets a highly respected and well-established product in an exciting field. And like VIPS, CB Technologies backs its products and services with a commitment to quality customer service. ”

For CB Technologies ’ clients, “the biggest benefit of this agreement is the long-term stability and expertise VIPS brings to our products and services, ” states Jan Fulton, chief operating officer, CB Technologies. “Not only will our clients remain confident that MetaTrial will be strongly supported, but they can also now look forward to significant expansion and enhancement of the product family in the future. ”

With the acquisition, VIPS has restructured its government and commercial business units under the new names, VIPS Government and VIPS HealthPayer. CB Technologies will operate as a wholly owned subsidiary of VIPS under the new name, VIPS Biomedical Services, with MetaTrial solutions at its core. “ Calling on our own two decades of experience in helping healthcare professionals gather, manage and use large volumes of complex data, we expect to build VIPS Biomedical Services into the market leader in intelligence solutions for clinical trials and other applications, ” continues Morgan.

“Together we plan to leverage the competencies of VIPS through the strong customer base of CB Technologies and establish additional solutions for the pharmaceutical marketplace,” adds Fulton.

Approximately 30 CB Technologies employees will continue to work at VIPS Biomedical Services in the current Exton, PA location. Morgan and Fulton stressed that the transaction will be entirely transparent to clients, who will soon benefit from the emergence of a new, vibrant and highly customer-focused organization.

About VIPS, Inc.

VIPS delivers innovative solutions that simplify the business of healthcare. Headquartered in the Baltimore-Washington, DC metro area, VIPS offers advanced care management, claims management and risk management solutions. The company also delivers exceptional value with its outsourcing and Web-enabled services. VIPS ’ technology and services, combined with the company ’ s business and clinical specialists, deliver a total business solutions approach – helping healthcare organizations increase productivity, enhance bottom-line results and improve quality of care. For more information, visit www.vips.com.