MIM to Acquire Vitality Pharmaceutical Services, Expand Presence
                          in Specialty Pharmaceuticals


     ELMSFORD,  NY  -  January  10,  2002  -  MIM  Corporation  (NASDAQ:   MIMS)
(CBOE:OQX), a pharmaceutical  healthcare  organization,  today announced that it
has entered into an agreement to acquire  Vitality  Pharmaceutical  Services,  a
national specialty pharmaceutical provider based in Roslyn Heights, New York.

     Richard H. Friedman,  Chairman and Chief Executive  Officer  commented that
the acquisition is in line with MIM's strategy of purchasing accretive companies
with  successful,  knowledgeable  management  teams committed to MIM's vision of
growth as an integrated pharmaceutical healthcare organization,  with particular
focus on specialty pharmacy distribution.

     "Vitality  will increase  MIM's  specialty  prescription  volume and market
share,  particularly  in the  New  York  tri-state  and  mid-Atlantic  regions,"
continued Mr. Friedman.  "We expect this acquisition to improve our buying power
as well as to permit MIM BioScrip the  opportunity  to cross-sell  its PBM, mail
and specialty infusion therapies to Vitality's customer base."

     Vitality's estimated EBITDA for 2001 is approximately $9 million.

     MIM will acquire all of the stock of Vitality for $45 million,  $35 million
in cash  and $10  million  in MIM  common  stock  (based  on a  trailing  20-day
average),  both to be paid at the closing.  The MIM common stock to be issued to
the Vitality  stockholders  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  registration  requirements.  The  acquisition is
expected to be immediately  accretive.  The  transaction is subject to usual and
customary conditions to closing, as well as MIM being satisfied with the results
of its due diligence investigations.

     Barbara  Kammerer,  Vitality's  President  and  founder,  and Marc  Wiener,
Executive Vice President, a founder and its majority shareholder,  will continue
to run Vitality's day to day operations.

     Compass Partners International, L.L.C. acted as exclusive financial advisor
to MIM Corporation on this transaction.

     Management  will host a conference  call today at 2:00 PM ET to discuss the
acquisition.  To  participate,  please dial (888)  423-3269  (domestic) or (651)
291-0618  (international) 5-10 minutes before the start of the call. A replay of
the call will be available  beginning the same day, at 4:30 PM ET and continuing
through  January  17, at 11:59 PM ET. The replay may be  accessed at any time by
dialing  800-475-6701  (domestic) or 320-365-3844  (international)  and entering
access  code  623466.  The  conference  call and replay will be webcast on MIM's
website,  www.mimcorporation.com,  under  the  audio  presentations  section  in
investor information.




MIM CORPORATION (WWW.MIMCORPORATION.COM) IS A PHARMACEUTICAL HEALTHCARE
ORGANIZATION DELIVERING INNOVATIVE PHARMACY BENEFIT AND HEALTHCARE SOLUTIONS
THAT PROVIDE RESULTS BEYOND EXPECTATIONS. WE EXCEL BY HARNESSING OUR CLINICAL
EXPERTISE, SOPHISTICATED DATA MANAGEMENT, AND THERAPEUTIC FULFILLMENT
CAPABILITY, AND COMBINE IT WITH OUR DEDICATED, RESPONSIVE TEAM OF PROFESSIONALS
THAT UNDERSTANDS OUR PARTNERS' NEEDS. THE RESULT IS COST-EFFECTIVE SOLUTIONS
ENHANCING THE QUALITY OF PATIENT LIFE.


VITALITY PHARMACEUTICAL SERVICES IS A PROVIDER OF SPECIALTY PHARMACY SERVICES TO
BOTH THE PATIENT AND PHYSICIAN MARKETPLACE INITIALLY STARTED IN THE METRO-NYC
AND SURROUNDING AREAS. VITALITY HAS EXPANDED THOSE SERVICES ON A NATIONAL BASIS
THROUGH RELATIONSHIPS WITH PHYSICIANS AND MANAGED CARE ENTITIES.

THIS PRESS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE FORWARD LOOKING
STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995, INCLUDING STATEMENTS REGARDING THE INTENT, BELIEF OR CURRENT EXPECTATIONS
OF THE COMPANY, ITS DIRECTORS, OR ITS OFFICERS WITH RESPECT TO THE FUTURE
OPERATING PERFORMANCE OF THE COMPANY. INVESTORS ARE CAUTIONED THAT ANY SUCH
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND INVOLVE
RISKS AND UNCERTAINTIES, AND THAT ACTUAL RESULTS MAY DIFFER MATERIALLY FROM
THOSE IN THE FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS.
IMPORTANT FACTORS THAT COULD CAUSE SUCH DIFFERENCES ARE DESCRIBED IN THE
COMPANY'S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

Contacts:

Barry A. Posner                                  Rachel Levine
Executive Vice President                         Investor Relations
MIM Corporation                                  The Anne McBride Co.
914-460-1638                                     212-983-1702
Email: investor_relations@mimcorporation.com     Email: rlevine@annemcbride.com