ITEM 5. OTHER EVENTS

Rule 10b5-1 Trading Plan

On May 19, 2003, Patrick A. Immel, Vice President – Information Technology Services of Computer Programs and Systems, Inc. (“CPSI”), entered into a written trading plan (the “Plan”) relating to future sales of a part of his shares of CPSI common stock. The Plan is intended to comply with Rule 10b5-1 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended. Mr. Immel entered into the Plan in order to diversify his financial holdings. The Plan will also enable him to sell shares over a period of time without significantly affecting the market for CPSI common stock. Under the Plan, Mr. Immel will have no control over the timing of any sales of his CPSI common stock.

The Plan will expire on March 31, 2004. Prior to June 30, 2003, the selected broker is authorized to sell up to 4,500 shares of Mr. Immel’s CPSI common stock at such times as the broker, in its sole discretion, may select, but only when the per share price of CPSI common stock is equal to or greater than $22.00. During each subsequent calendar quarter prior to the expiration of the Plan, the selected broker is authorized to sell up to 3,500 shares of Mr. Immel’s CPSI common stock at such times as the broker, in its sole discretion, may select, but only when the per share price of CPSI common stock is equal to or greater than $23.00. Accordingly, Mr. Immel may sell up to an aggregate of 15,000 shares of his CPSI common stock pursuant to the Plan.