Covalent Group, Inc. Announces $2.6 Million of New Business Awards

Covalent Group, Inc. Announces $2.6 Million of New Business
Awards 


WAYNE, Pa., Nov. 9  /PRNewswire-FirstCall/ -- Covalent Group, Inc. (NASDAQ:
CVGR), a leader in the design, development, and management of complex clinical
trials and patient disease registries for many of the world's leading
pharmaceutical and biotechnology companies today announced that it has been
awarded multiple new business contracts with an aggregate value of $2.6
million.  The contracts involve a mix of new projects and expansion of current
studies with six different clients.  The therapeutic areas covered by the
studies include cardiovascular diseases, nephrology, metabolic bone disease,
and vaccines.  The services to be provided are for protocol consulting and
design, project management, study site management, field operations, data
management, biostatistics, and medical writing.  Revenue recognition begins
this quarter on a proportional performance basis and will extend from 6 to 24
months depending on the specific project.

Kenneth M. Borow, M.D., President and Chief Executive Officer, commented,
"These new business awards represent work with five repeat customers and one
new client.  In each case, Covalent is providing a mix of consultative and
operational services.  Overall, the contracts include work involving all phases
of the clinical research process.  Thus, Covalent remains actively involved
across multiple therapeutic areas in every aspect of pharmaceutical and
biotechnology clinical Research and Development ranging from Phase 1 through
Phase 4.  With seven weeks left in the fourth quarter, our 2004 year- to-date
total new business awards are $21.5 million.  This approximates our 2003 total
of $21.7 million."

About Covalent Group

Covalent Group is a clinical research organization that is a leader in the
design and management of complex clinical trials for the pharmaceutical,
biotechnology and medical device industries. The Company's mission is to
provide its clients with high quality, full-service support for their clinical
trials. Covalent offers therapeutic expertise, experienced team management and
advanced technologies. The Company has clinical trial experience across a wide
variety of therapeutic areas such as cardiovascular, endocrinology/metabolism,
diabetes, vaccines, biologics, gene therapy, immunology, neurology, oncology,
infectious diseases, gastroenterology, dermatology, hepatology, womens' health
and respiratory medicine.  Covalent believes that its leadership in the design
of complex clinical trials, its application of innovative technologies,
therapeutic expertise and commitment to quality offer its clients a means to
more quickly and cost effectively develop products through the clinical trial
process.  With its wholly-owned international subsidiary, Covalent Group, Ltd.,
as well as its Strategic Partners operating in South America, Eastern Europe,
Russia and Ukraine, and Australia, New Zealand, and the Asia-Pacific region,
Covalent is able to meet the global drug development needs of its clients.

This press release contains forward-looking statements identified by words such
as "estimate," "project," "expect," "intend," "believe," "anticipate" and
similar expressions. Actual results might differ materially from those
projected in, expressed in or implied by the forward-looking statements.
Potential risks and uncertainties that could affect the Company's future
operating results and financial condition include, without limitation: (i) our
success in attracting new business and retaining existing clients and projects;
(ii) the size, duration, and timing of clinical trials; (iii) the termination,
delay or cancellation of clinical trials; (iv) the timing difference between
our receipt of contract milestone or scheduled payments and our incurring costs
to manage these trials; (v) outsourcing trends in the pharmaceutical,
biotechnology and medical device industries; (vi) the ability to maintain
profit margins in a competitive marketplace; (vii) our ability to attract and
retain qualified personnel; (viii) the sensitivity of our business to general
economic conditions; (ix) other economic, competitive, governmental and
technological factors affecting our operations, markets, products, services and
prices; and (x) announced awards received from existing and potential customers
are not definitive until fully negotiated contracts are executed by the
parties. Additional information concerning factors that could cause actual
results to materially differ from those in forward-looking statements is
contained in Covalent Group's SEC filings, including its Annual Report on Form
10-K for the year ended December 31, 2003 and other periodic reports under the
Securities Exchange Act of 1934, as amended, copies of which are available upon
request from Covalent Group's investor relations department.

   Investor Relations Contact
   Lawrence Hoffman, CPA, Esq.
   CFO, Covalent Group, Inc.
   [phone]
   http://www.covalentgroup.com/

DATASOURCE: Covalent Group



CONTACT:  Lawrence Hoffman, CPA, Esq., Investor Relations Contact and CFO

of Covalent Group, Inc., [phone] 



Web site:  http://www.covalentgroup.com/ 

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