COSTA MESA, Calif. - October 7, 2004 -- PAREXEL International (NASDAQ: PRXL), headquartered in Waltham, Mass., has acquired privately held Integrated Marketing Concepts, of Whitehall, Pa. Transaction terms were not disclosed.

RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Integrated Marketing Concepts.

"Integrated Marketing Concepts offers several essential services, such as patient recruiting and retention, which will effectively supplement PAREXEL International's offerings," said Randy Krauthamer, managing director for RSM EquiCo Capital Markets "In return, PAREXEL International will provide the necessary structure to strengthen the acquired company's marketing capabilities and fiscal discipline."

About Integrated Marketing Concepts

Founded in 1984, Integrated Marketing Concepts provides marketing services, clinical trials, warehousing, fulfillment, market research, consulting, customer service and contact services. The company also developed a proprietary Web-based software product to support both clients and its own marketing operations.

About PAREXEL International

Founded in 1984, PAREXEL International is a contract research organization for the pharmaceutical, biotechnology and medical device industries. PAREXEL International reduces time-to-market, cost and risk for product developers by providing staff, resources and technology, from the earliest stages of drug and device investigations through clinical trials and commercialization.

About RSM EquiCo, Inc.

RSM EquiCo is a global investment bank serving private middle-market companies throughout North America. With more than 400 professionals and support staff in North America and Europe, RSM EquiCo specializes in mergers, acquisitions, divestitures and capital raising for companies with up to $500 million in annual revenue. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.