April 29, 1998
AMERIPATH REPORTS FIRST QUARTER 1998 RESULTS

Riviera Beach, Florida - April 29, 1998 - AmeriPath, Inc. (Nasdaq: PATH), a physician practice management company focused on anatomic pathology services, today reported results for the first quarter ended March 31, 1998.

Net revenue for the first quarter was $38.0 million, compared to the same period of the prior year of $22.1 million, a 72% increase. Income from operations for the quarter was $8.6 million, up 99% over the $4.3 million reported in the comparable period in 1997. Net income was $3.8 million or $0.19 per share for the quarter compared to $1.4 million or $0.12 per share for the same period last year. Comparisons of same practice revenues for the three month periods ended March 31, 1998 and 1997 increased by $3.2 million, or 14%. Approximately 7% of this increase was attributed to the expansion of a contract with a national laboratory in Florida and 2-3% resulted from the increase in reimbursement by Medicare. Annualized net revenues per pathologist were maintained at $1.0 million, consistent with the fourth quarter of 1997.

During the first quarter, AmeriPath announced the acquisition of two additional pathology practices; Anatomic Pathology Associates (APA), based in Indianapolis, Indiana and Rhonda R. Porterfield, MD, based in Dallas, Texas. These pathology practices employ a total of 15 pathologists who provide pathology services at eight hospitals and one outpatient laboratory facility. The new acquisitions were funded with various combinations of cash, common stock and contingent notes.

"Our first quarter performance continues to demonstrate successful same store growth and the continued acquisition of strategic anatomic pathology practices," said Jim New, President and CEO of AmeriPath. "These acquisitions strengthen our market presence in Texas and Indiana and contributes to the development of our regional business models in those states. We are on track to fulfilling our mission to be the leading physician practice management company in anatomic pathology".

AmeriPath, Inc. believes it is the nation's leading physician practice management company focused on providing anatomic pathology services to physicians, hospitals, national clinical laboratories, and managed care organizations. AmeriPath presently operates 18 physician practices in eight states, employs more than 145 pathologists who provide medical services through outpatient pathology laboratories, hospital inpatient laboratories and outpatient surgery centers.

.......................................................................................................................

This release contains certain forward-looking statements regarding AmeriPath, including its operations and prospects. Past performance is not necessarily indicative of future results. In addition, AmeriPath's actual results could differ materially from the results anticipated in these forward-looking statements as a result of uncertainties, including risks relating to demand, pricing, government regulation, payments and reimbursements, dependence upon contacts and pathologists, the market for pathology services, competition, and other factors identified in AmeriPath's filings with the Securities and Exchange Commission.