Continental Choice Care, Inc. Closes Transaction With Lazar & Company I.G., LLC

LIVINGSTON, N.J. -- (BUSINESS WIRE) -- Aug. 23, 2000

Prem Krishnamoorthy, Former Senior Consultant to Goldman Sachs, Joins

Continental Choice Care, Inc.  (NASDAQ:CCCI)  announced today that it has closed
on the sale of  securities  to Lazar & Company  I.G.,  LLC, a  merchant  banking
company located in New York City. The transaction was effective  August 21, 2000
pursuant to the Purchase  Agreement entered into June 7, 2000 following approval
by the Company's shareholders at the August 16, 2000 Annual Meeting.

Lazar &  Company  purchased  200,000  shares of  Common  Stock and a warrant  to
purchase  additional  shares of Common Stock subject to certain vesting criteria
related to the market capitalization of the Company.

Steven L. Trenk,  President of CCCI,  said "We are happy to have Lazar & Company
as a  shareholder  of the Company and look forward to a bright  future  together
within the framework of our new initiative."

In addition, the Company announced today that Prem Krishnamoorthy, former Senior
Consultant to Goldman Sachs,  will become Director of Business  Development.  In
this role, Mr. Krishnamoorthy will support the senior executives in implementing
the strategy of  establishing,  acquiring and investing in emerging markets with
particular emphasis on Indian based IT businesses.

Mr.  Krishnamoorthy  spent the last  seven  years on Wall  Street as a senior IT
consultant in firms including Credit Suisse First Boston,  Lehman Brothers,  and
most recently, Goldman Sachs, where he was involved in infrastructure design and
implementation on a global scale. Mr. Krishnamoorthy  received his undergraduate
degree in  Engineering  from the Cooper  Union for the  advancement  of arts and
science, NY.

Mr. Trenk stated, "Prem brings a wealth of Information  Technology experience to
the Company and will play a vital role in our  strategic  business  development.
His relationships in the financial and IT industry,  both here and abroad,  will
help us leverage our services to their maximum potential. We believe that Prem's
involvement  in  implementing  our new strategy will help us stand out among the
limited number of India focused companies traded on the U.S. markets, helping to
enhance overall shareholder value."

This press release  contains  forward looking  statements which involve numerous
risks and  uncertainties.  The Company's actual results could differ  materially
from those anticipated in such forward looking statements as a result of certain
factors,  including  the risk  factors set forth in the  Company's  registration
statement (No.  333-3194)  filed with the Securities and Exchange  Commission on
March 8, 2000.