Phyhealth Issues Audited Financials for 2007

Thursday, June 19, 2008 General News
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MIAMI, June 18 Physicians Healthcare ManagementGroup, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenanceorganizations (HMOs) in partnership with physicians, today announced that ithas issued its audited financial statements for the year ended December 31,2007. The financials are being filed today with the Pink Sheets. The companyis currently working on reporting its financial results for the three monthsended March 31, 2008. As a result of filing its historical financials,Phyhealth expects to be designated "Current Information" (identified by a PinkCheckmark icon) by the Pink Sheets.

Mr. Robert Trinka, chairman and chief executive officer, stated, "We arepleased to have completed this latest submission of our audited financialsthrough 2007, which follows the filing of our 2005 and 2006 historicalfinancials earlier this year. Upon filing our financial results for the threemonths ended March 31, 2008, we will be up-to-date in our reportingrequirements and expect to be designated as a current filer with the PinkSheets. Completing the audit of our financial statements from inceptionthrough 2007 is an important milestone toward our goal to become fullyreporting with the Securities & Exchange Commission. This will qualify thecompany for listing on the OTC Bulletin Board, which should help to broadenexposure for Phyhealth and increase transparency for our investors andpartners in advance of launching our Pilot HMO."

About Physicians Healthcare Management Group, Inc.

Physicians Healthcare Management Group, Inc. (Phyhealth) is a developer ofcommunity-based health maintenance organizations (HMOs) that are owned andoperated in partnership with the participating physicians. Phyhealth Plansare designed to deliver high-quality affordable healthcare by enablingphysicians to assume end-to-end management of healthcare for their patients.The Phyhealth model empowers physicians to provide preventive healthcare andproactively manage their patient's general health by aligning incentivesamongst the HMO, physician and the patient. Phyhealth intends to offeradditional value-added products and services in cooperation with physicians,including medical malpractice insurance, local care facilities and wellnessprograms, as well as information technologies such as secure electronicmedical records.

Forward-Looking Statements

This press release contains statements, which may constitute"forward-looking statements" within the meaning of the Securities Act of 1933and the Securities Exchange Act of 1934, as amended by the Private SecuritiesLitigation Reform Act of 1995. Those statements include statements regardingthe intent, belief or current expectations of Physicians Healthcare ManagementGroup, Inc, and members of its management as well as the assumptions on whichsuch statements are based. Prospective investors are cautioned that any suchforward-looking statements are not guarantees of future performance andinvolve risks and uncertainties, and that actual results may differ materiallyfrom those contemplated by such forward-looking statements. The Companyundertakes no obligation to update or revise forward-looking statements toreflect changed assumptions, the occurrence of unanticipated events or changesto future operating results. Additional information is availableat: http://www.phyhealth.com.

SOURCE Physicians Healthcare Management Group, Inc.


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