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                                                                    Exhibit 99.1

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[HPSC INC LOGO]                       PRESS RELEASE
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Contact: John W. Everets, 617/720-3600


            HPSC CLOSES $323 MILLION ASSET BACKED TERM SECURITIZATION

BOSTON, MA (March 31, 2003) - HPSC, Inc. (AMX: HDR), a leading non-bank provider
of financing for healthcare practitioners, announced the completion of a $323
million asset-backed securitization. The securitized assets, which consist of
equipment leases and loan contracts with licensed medical and other
professionals, were originated by the company and were previously included in
the Company's commercial paper conduit and its revolving line of credit.

The offering was made in seven classes of Asset-Backed Notes.

The Notes have not been and will not be registered under the Securities Act of
1933 and may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements under the Act.

John W. Everets, Chairman and Chief Executive Officer, commented, "We are
pleased to have completed this financing in a favorable interest-rate
environment."

HPSC, Inc. is a leading non-bank financial service company, which provides
leasing and other financing opportunities to medical and dental professions in
all fifty states.

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act. When used in this press release, the words
"believes," "anticipates," "expects," "plans," "intends," "estimates,"
"continue," "may," or "will" (or the negative of such words) and similar
expressions are intended to identify forward-looking statements. Such statements
are subject to a number of risks and uncertainties, including but not limited to
the following: the Company's dependence on maintaining and increasing funding
sources; restrictive covenants in funding documents; payment restrictions and
default risks in asset securitization transactions to which the Company is a
party; customer credit risks; competition for customers and for capital funding
at favorable rates relative to the capital costs of the Company's competitors;
changes in healthcare payment policies; interest rate risk; the risk that the
Company may not be able to realize the residual value on financed equipment at
the end of its lease term; risks associated with the sale of certain receivable
pools by the Company; dependence on sales representatives and the current
management team; and fluctuations in quarterly operating results. The Company's
filings with the Securities and Exchange Commission, including its Annual Report
on Form 10-K for the year ended December 31, 2003 contain additional information
concerning such risk factors. Actual results in the future could differ
materially from those described in the forward-looking statements as a result of
the risk factors including those set forth above, and the risk factors described
in the Annual Report. HPSC cautions the reader, however, that such list of risk
factors may not be exhaustive. HPSC undertakes no obligation to release publicly
the result of any revisions to these forward-looking statements that may be made
to reflect any future events or circumstances.