Chairman of Executive Search Firm Spencer Stuart Joins Exult's Board of Directors; Ernst & Young BPO Executive and Exxon-Mobil HR Executive Join Exult

Business Wire, May 22, 2000

Business Editors

IRVINE, Calif.--(BUSINESS WIRE)--May 22, 2000

Exult, Inc. a provider of web-enabled integrated services designed to manage the entire human resources function for Global 500 corporations, today announced it has added a renowned "C-level" executive recruiting expert to its board of directors, and two highly recognized BPO and HR authorities to its management team.

The new board member is Thomas J. Neff, chairman of Spencer Stuart, U.S., the global executive search firm. The BPO expert is Kevin Campbell, currently Director of Ernst & Young's Global Operate, Products Industries Market. The HR expert is Fred Knowles, previously Human Resources Manager for ExxonMobil's Refining and Supply company.

Said Jim Madden, Chairman, President and CEO of Exult, "We believe that one of the keys to success in the burgeoning eHR process management market is depth and breadth of internal HR, outsourcing, process, operations and technology expertise. With the addition of these three new executives to our team, we believe we're continuing to establish a senior management group that will enable us to achieve our objective of transforming the HR departments in Global 500 corporations into proactive, global, knowledge-based organizations."

Expert's Backgrounds

-- Thomas Neff, Exult board member - Mr. Neff is chairman of Spencer Stuart,
U.S., the global executive search firm. Neff, cited by the Wall Street Journal
as "The Number 1 Brand Name in CEO Searches," brings nearly three decades of
C-suite and board of director search, executive recruiting, succession
planning, hands-on CEO and management consultancy expertise to Exult. Prior to
joining Spencer Stuart, Neff was a principal in executive search with Booz,
Allen & Hamilton. Before that, he was the chief executive officer of an
information systems company. He has also held senior marketing positions with
TWA. Earlier in his career, he was a management consultant with McKinsey &
Company. He is former Chairman of the Board of Trustees of the Brunswick
School, and has served on the board of Macmillan, Inc. He is currently on the
Board of Directors of ACE Ltd., the Lord Abbett Mutual Funds, Myjobsearch.com,
and serves as a Trustee of Lafayette College.

-- Kevin Campbell, Operations - Mr. Campbell was responsible for driving Ernst
& Young's rapidly growing $400 million Global Operate practice within the
firm's Consulting Services business unit. Before joining E&Y, Campbell spent
nearly two decades at Andersen Consulting, the last nine years as a partner.
There, he was responsible for business process management for the Resources
Market unit, was the America's managing partner for business process management
within the manufacturing industry, and the northeast region's partner
responsible for the high tech and electronic market segments. Notable
achievements include serving as a worldwide engagement partner for a global F&A
outsourcing contract for three businesses being divested by a major chemicals
company, growing a P/L from $175 million to $450 million, and leading the
creation of six global business process outsourcing centers. He was a finalist
in the 1999 Outsourcing World Achievement Awards.

-- Fred Knowles, Executive Director - Mr. Knowles was previously human
resources manager for ExxonMobil's Refining and Supply company. His primary
focus in that role was the successful integration of the HR functions within
Exxon's and Mobil's worldwide refining and supply operations. Before that, he
was selected to lead key HR integration teams for the Exxon Mobil merger,
including the global compensation team. Before the merger, he was executive
compensation manager for Mobil. There, he was responsible for executive
compensation design and execution as well as establishment of Mobil's global,
non-executive compensation values and philosophy. He also served as the HR
manager for two of Mobil's worldwide growth businesses. In that position, he
developed a global HR strategy to support new business development teams on a
worldwide basis. He was an integral part of Mobil's 1995 global staff
restructuring and process redesign effort, which resulted in a reduction of the
company's worldwide staff expenses by over $800 million annually. He was on the
steering committee of the Executive Compensation Forum and served on two
Executive Compensation Councils.

About Exult, Inc.

Headquartered in Irvine, California, Exult, Inc. offers eHR, a comprehensive, web-enabled integrated service designed to manage the entire human resources department for Global 500 corporations. The company's strategy is to transform Global 500 HR departments into proactive, global, knowledge-based organizations through myHR, a browser-based, personalized HR portal. The company believes myHR, in conjunction with our client service centers and centers of expertise, has the potential to transform the employee's perception of the HR function, create new bonds between employer and employee, and promote employee self-service to manage many aspects of an employee's professional and personal lives. For more information, visit Exult's web site at: www.exult.net; 949/250-8002.