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FOR IMMEDIATE RELEASE Contacts: Christopher C. Ohman
Chief Financial Officer
510 273 3208
e-mail: [email protected]
HEALTH SYSTEMS DESIGN AND
ROBERTSON STEPHENS AGREE TO TERMINATE ENGAGEMENT
Oakland, California - August 30, 2000 - Health Systems Design
Corporation (Nasdaq:HSDC) (HSD) today announced its engagement letter with
Robertson Stephens has been terminated. The letter was signed in November 1999
in connection with HSD's process of exploring strategic alternatives, and was
terminated by mutual agreement.
HSD noted that it continues to explore strategic alternatives and
various financing options.
Health Systems Design, headquartered in Oakland, California, is a
leading provider of information systems solutions for organizations that
administer health benefits. The company's DIAMOND software manages large and
complex databases and the high volume, complex transactions associated with the
administration of health benefits and provider payments. The company's software
and services allow clients to control costs and improve the service they provide
to their members. The company's 119 licensees include health insurers, health
maintenance organizations (HMOs), preferred provider organizations (PPOs), third
party administrators and provider organizations, including some of the nation's
largest health plans. Health Systems Design was founded in 1988 and has traded
on the Nasdaq National Market since its initial public offering in 1996.
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HSDC "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: THE STATEMENTS CONTAINED IN THIS RELEASE THAT ARE NOT
HISTORICAL FACT ARE FORWARD-LOOKING AND ARE SUBJECT TO RISKS AND UNCERTAINTIES
THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR
IMPLIED BY FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES INCLUDE THE
COMPANY'S DEPENDENCE UPON A SINGLE PRODUCT LINE; THE DYNAMIC NATURE OF THE
MARKET IN WHICH THE COMPANY'S PRODUCT LINE COMPETES; CONTINUED MARKET ACCEPTANCE
OF THE COMPANY'S PRODUCTS; POTENTIAL ACQUISITIONS OR MERGERS; DEVELOPMENT OF NEW
PRODUCTS AND ENHANCEMENTS OF THE CURRENT PRODUCT; DEPENDENCE OF THE COMPANY'S
RESULTS OF OPERATIONS ON CERTAIN LARGE CUSTOMERS; THE COMPANY'S ABILITY TO
ATTRACT AND RETAIN QUALIFIED PERSONNEL; INTENSE COMPETITION; AND OTHER RISKS
DESCRIBED IN THE COMPANY'S SECURITIES AND EXCHANGE COMMISSION FILINGS.
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