I-many Sponsors Web Seminar Reviewing Impacts of the Deficit Reduction Act on Pharmaceutical Manufacturers

I-many, Inc. (NASDAQ:IMNY), the leading provider of advancedContract Lifecycle Management (CLM) solutions for managing corporatecommitments, today announced its joint Web seminar sponsorship withPharmaVOICE magazine on the Deficit Reduction Act (DRA). The 60 minuteweb seminar on August 2nd at 1:00pm ET / 10:00am PT will helppharmaceutical manufacturers understand new recommendations by theOffice of the Inspector General regarding requirements of the DRA.This includes important calculations changes to Average ManufacturersPrice (AMP) and Best Price (BP) which are key components in Medicaidrebate calculations. The Web seminar will review the impact on theindustry should the recommendations be enacted, and how I-manysolutions will facilitate compliance.

"The Office of Inspector General has made several recommendationsto the Centers for Medicare & Medicaid Services (CMS) regardingrevisions to the AMP and BP calculation methodologies required by theDeficit Reduction Act (DRA)," said David Blumberg, executive vicepresident of fulfillment services at I-many. "These recommendationsaddress several areas of concern to pharmaceutical manufacturers,including requirements for defining a retail class of trade, treatmentof pharmacy benefit manager rebates, administrative and service fees,frequency of AMP and BP reporting, and calculations of baseline AMP.With a better understanding of these issues, manufacturers will beable to plan their response in such a way that business impacts, andexposure to non-compliance risks, are both minimized."

The Deficit Reduction Act was passed in 2006 to increase revenuesto state and federal governments in a number of ways, including theincrease of Medicaid rebates paid to states by pharmaceuticalmanufacturers. These rebates are calculated as the difference betweenthe AMP and the BP (defined as the lowest price offered to a definedset of customers), or as a percentage of the AMP, whichever isgreater. The rebate amount can therefore be increased by adjusting theAMP, and a final recommendation regarding this recalculation under DRAis due in January 2007.

"As the leading provider of contract management and compliancesolutions to the pharmaceutical industry, we believe it is ourresponsibility to help manufacturers stay appraised of regulatorychanges that impact their operations and risk exposure," said JohnRade, chairman and interim president and CEO at I-many. "With thepassage of the Medicare Modernization Act, TRICARE, and, mostrecently, the Deficit Reduction Act, it has become clear that theclimate of regulatory activism gripping the pharmaceutical industry isunlikely to abate any time soon. We have helped our customers meet allof these challenges to compliance with timely and targeted updates toour products, and we will continue to do so as new mandates areenacted."

To register for "DRA Update: OIG Recommendations and Issues UnderConsideration by CMS" web seminar, please go tohttp://medconference.net/draupdate.

About I-many(R)

I-many (NASDAQ:IMNY) is the leading provider of advanced ContractLifecycle Management solutions for managing corporate commitments.Designed to extend beyond the traditional contract managementcapabilities, I-many ContractSphere(R) offers an end-to-end solution,from pre-contract processes and contract management to transactioncompliance. Ultimately, this provides companies with the visibilityand control needed to manage any type of commitment - from contractsand obligations to payments and collections. The result is increasedrevenue, minimized risk and dramatically reduced operating costs,which deliver improved profitability with hard return on investment.More than 280 customers across 21 industries worldwide haveimplemented and realized the value of I-many business solutions. Formore information, please visit www.imany.com.

This news release contains forward-looking statements, and actualresults may vary from those expressed or implied herein. Factors thatcould affect these results include: the risk of unforeseen technicalor practical impediments to planned software development and otherrisk factors set forth from time to time in the Company's filings withthe Securities and Exchange Commission.