December 10, 2001
AmeriPath Announces New Credit Facility

FOR IMMEDIATE RELEASE

Contact: Gregory A. Marsh Michelle D. Getty Vice President & CFO Investor Relations AmeriPath, Inc. AmeriPath, Inc. 561-712-6211 561-712-6260 E-mail: gmarsh@ameripath.com E-mail: invrel@ameripath.com

AMERIPATH ANNOUNCES NEW CREDIT FACILITY Riviera Beach, FL, December 10, 2001 - AmeriPath, Inc. (Nasdaq: PATH), a leading national provider of cancer diagnostics, genomic, and related information services, announced that it has entered into a new credit facility to provide for up to $200 million for a term of five years. Under the facility, the Company has committed funding of $140 million from a syndicate of financial institutions led by Bank of America, N.A. (Administrative Agent) and First Union National Bank and Citibank (co-Syndication Agents). The facility was co-arranged by Banc of America Securities, LLC and Wachovia Securities, LLC. This facility provides the Company with funding to further its presence, visibility, and growth within the pathology marketplace and lower overall interest costs.

James C. New, AmeriPath's Chairman and Chief Executive Officer, stated, "This new facility reduces our overall interest rate and provides us with the future debt capacity to continue growing the business. In addition, the facility rounds out our capital structure and allows us a greater degree of financial flexibility. We are pleased to be working with our new syndicate of banks."

Terry Katon, Managing Director of Banc of America Securities LLC stated, "We are very pleased to step into a lead credit relationship and have enjoyed a longstanding relationship with AmeriPath. Following the Company's successful equity offering, this new credit facility will provide capital for AmeriPath's next phase of growth. We believe that AmeriPath has the right management team and the capital resources to execute its proven strategy."

The Company used the funds available under the new facility to repay its existing credit facility. As disclosed previously, the refinancing will result in the termination of three interest rate swaps with a combined notional amount of $105 million and the write off of unamortized debt costs. The termination of these swaps will result in a pre-tax special charge of approximately $11 million ($6.6 million after tax) and the write off of approximately $1.7 million of unamortized debt costs during the fourth quarter. This new facility, coupled with the Company's annual cash flows from operations, will support the Company's ability to continue acquiring pathology groups in targeted markets, developing its Center for Advanced Diagnostics, and establishing other de novo laboratories in strategic markets. The interest rate at closing, based on the Company's leverage ratio, is LIBOR plus 150 basis points.

AmeriPath is a leading national provider of cancer diagnostics, genomic, and related information services. In the first nine months of 2001, AmeriPath diagnosed 2.9 million tissue biopsies, and interpreted 1.6 million Pap smears. The Company's extensive diagnostics infrastructure includes 422 pathologists and doctorate-level scientists providing services to 43 independent pathology laboratories, 237 hospitals, the Center for Advanced Diagnostics (CAD), and Dermpath Diagnostics. CAD provides specialized diagnostic testing and information services including Fluorescence In-Situ Hybridization (FISH), Flow Cytometry, DNA Analysis, Polymerase Chain Reaction (PCR), Molecular Genetics, Cytogenetics, and HPV Typing. Dermpath Diagnostics, with 67 board-certified dermatopathologists, is the country's leading provider of dermatopathology services in the growing skin diagnostic testing market. Additionally, AmeriPath provides clinical trial and research and development support to firms involved in developing new cancer and genomic diagnostics and therapeutics.

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The statements contained in this press release include "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements - which are sometimes identified by words such as "may", "should", "believe'', "expect'', "anticipate'', "estimate" and similar expressions and which include any financial or operating estimates, forecasts or projections - are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. These risks and uncertainties could cause actual results to differ materially from historical results or from results anticipated by forward-looking statements. These risks and uncertainties include: the extent of success of the Company's operating initiatives and growth strategies; ability to manage growth; access to capital on satisfactory terms; general economic conditions; a possible outbreak of hostilities or war; competition and changes in competitive factors; federal and state healthcare regulation (and compliance); reimbursement rates under government and third party healthcare programs and the payments received under such programs; changes in coding; changes in technology; dependence upon pathologists and customer contracts; the ability to attract, motivate, and retain pathologists; labor and technology costs; marketing and promotional efforts; the availability of pathology practices in appropriate locations that the Company is able to acquire on suitable terms or develop; the successful completion and integration of acquisitions (and achievement of planned or expected synergies); and tax laws. The forward-looking statements in this press release are made as of the date hereof based on management's current beliefs and expectations, and the Company undertakes no obligation to update or revise any such statements, whether as result of new developments, new information or otherwise. Further information regarding risks, uncertainties and other factors that could affect the Company's financial or operating results or that could cause actual results to differ materially from those expected, estimated or anticipated are included in the Company's annual, quarterly, and other reports and filings with the SEC. Past performance is not necessarily indicative of future results.