MIM’s Growing Business MIM’s Growing Business SegmentsSegments

S pec ia l ty Pharm acy M anagem ent and D e l ive ryS ervices

PBM S ervices(in c lu d in g m a il o rd er p h arm acy)

MIM C orpora tion

2003 Results2003 Results

$589 million Revenues$589 million Revenues

$9 million Net Profit$9 million Net Profit

$0.41 EPS$0.41 EPS

40%60%

40%60%

PBM/MailPBM/Mail SpecialtySpecialty

Segment RevenueSegment Revenue

1Q 2004 vs. 20031Q 2004 vs. 2003

33%

67%

33%

67%

2004 2004 2003 2003

80%

20%

80%

20%

PBM/MailPBM/Mail SpecialtySpecialty

Segment Contribution to Segment Contribution to ProfitabilityProfitability

1Q 2004 vs. 20031Q 2004 vs. 2003

49%51%49%51%

2004 2004 2003 2003

MIM PBM ServicesMIM PBM Services

200 payor clients200 payor clients

Approximately 7 million lives Approximately 7 million lives under management under management

Processed or delivered 12 Processed or delivered 12 million prescriptionsmillion prescriptions

MIM BioScrip Competitive ValueMIM BioScrip Competitive Value

Payor-centric model Payor-centric model

Over 350 payor contracts with access Over 350 payor contracts with access to over 20 million livesto over 20 million lives

Clinical approach combined with Clinical approach combined with educationeducation– Center of excellence in specific disease Center of excellence in specific disease

state managementstate management

Superior Reporting CapabilitiesSuperior Reporting Capabilities

MIM BioScrip Competitive ValueMIM BioScrip Competitive Value(Continued)(Continued)

National National andand local presence local presence

Regional physician sales force targeting Regional physician sales force targeting specialistsspecialists

Specialized mixing & fulfillment Specialized mixing & fulfillment facilitiesfacilities

Dominant player in NY metropolitan Dominant player in NY metropolitan areaarea

Recently completed specialty Recently completed specialty acquisitionacquisition

Disease States Driving GrowthDisease States Driving Growth

Crohn’s Disease Crohn’s Disease Gaucher’s Disease Gaucher’s Disease

Growth Hormone Deficiency HIV/AIDSGrowth Hormone Deficiency HIV/AIDS

Hemophilia Hemophilia Hepatitis C Hepatitis C

Immune Deficiency Immune Deficiency Infertility Infertility

MS MS Oncology Oncology

PsoriasisPsoriasis Renal Care Renal Care

Organ Transplant Organ Transplant Rheumatoid Arthritis Rheumatoid Arthritis

– Provide all drugs across all therapeutic Provide all drugs across all therapeutic categoriescategories

Revenue Mix Among Disease Revenue Mix Among Disease StatesStates

Hep C

Oncology18%

HIV/AIDS14%

Hep C13%

Arthritis9%

MS7%

Renal6%

Others14%

Immune Deficiency

19%

MIM BioScrip MIM BioScrip PhilosophyPhilosophyPersonalized Personalized medicine medicine Payor-centricPayor-centric approachapproachLocalLocal relationships relationships

MIM BioScrip MIM BioScrip PhilosophyPhilosophyPersonalized Personalized medicine medicine Payor-centricPayor-centric approachapproachLocalLocal relationships relationships