X0201 4 2004-03-16 0 0001012956 ADVANCEPCS ADVP 0001284108 FRANK RAMSEY A C/O JLL PARTNERS, INC. 450 LEXINGTON AVENUE NEW YORK NY 10017 1 0 0 0 Class A Common Stock 2004-03-16 4 M 0 10000 28.65 A 11718104 I By JLL Fund III Class A Common Stock 2004-03-16 4 S 0 1561 70 D 11716543 I By JLL Fund III Class A Common Stock 2004-03-16 4 S 0 150 70.01 D 11716393 I By JLL Fund III Class A Common Stock 2004-03-16 4 S 0 200 70.02 D 11716193 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 950 70.710 D 11715243 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 850 70.662 D 11714393 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 950 70.55 D 11713443 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 850 70.539 D 11712593 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 300 70.507 D 11712293 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 850 69.917 D 11711443 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 850 69.529 D 11710593 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 650 69.5 D 11709943 I By JLL Fund III Class A Common Stock 2004-03-17 4 S 0 1839 69.850 D 11708104 I By JLL Fund III Stock Options 28.65 2004-03-16 4 M 0 5000 0 D 2002-12-20 2011-12-20 Class A Common Stock 5000 5000 D Stock Options 28.65 2004-03-16 4 M 0 5000 0 D 2003-12-20 2011-12-20 Class A Common Stock 5000 0 D Explanation of Responses: As of March 16, 2004, JLL Partners Fund III, L.P. ("JLL fund III") was the direct beneficial owner of 2,790,900 shares of Common Stock and 8,913,334 shares of Class B-1 Common Stock of AdvancePCS, which are convertible at any time at the option of the holder into shares of Common Stock at a one-for-one ratio. Assuming the conversion of all shares of Class B-1 Common Stock owned by JLL Fund III, JLL Fund III may be deemed to beneficially own an aggregate of 11,704,234 shares of Common Stock. By virtue of its position as general partner of JLL Fund III, JLL Associates III, L.L.C. ("JLL Associates") may be deemed to be the beneficial owner of all of the shares in which JLL Fund III has direct beneficial ownership. By virtue of Ramsey A. Frank's position as managing member of JLL Associates, Ramsey A. Frank may be deemed to have a beneficial ownership interest in all of the shares in which JLL Fund III has direct beneficial ownership. Ramsey A. Frank disclaims beneficial ownership of such securities, except to the extent of his pecuniary interests therein as calculated pursuant to the rules and regulations promulgated under Section 16 of the Securities Act of 1933, as amended. Ramsey A. Frank also owns 13,870 shares of Common Stock directly (including 10,000 shares acquired on March 16, 2004 from the exercise of stock options). /s/ Ramsey A. Frank 2004-03-18