H1B and fellowship

[rao_bandi]

I am currently in my third year of residency on H1B in a cap exempt program. I was offered a fellowship position in a 'University affiliated' but community program, starting July 2005. My future employer is not clear on whether they are cap exempt. If they are not, will I be force to go for J1? Can I file under the 20K US graduates quota(Does residency count as a degree even though I did my medical schooling in India?). Any response is appreciated
Thanks