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. (610) 975-9533 http://www.covalentgroup.com/ DATASOURCE: Covalent Group CONTACT: Lawrence Hoffman, CPA, Esq., Investor Relations Contact and CFO of Covalent Group, Inc., +1-610-975-9533 Web site: http://www.covalentgroup.com/

Copyright