Webhire Announces Return to Stock Symbol 'Hire'

Business Wire, July 17, 2001

Business/Technology Editors

LEXINGTON, Mass.--(BUSINESS WIRE)--July 17, 2001

Webhire Inc. (Nasdaq National Market: HIRE), the #1 choice in recruiting solutions, today announced that the company is once again trading under its regular Nasdaq ticker symbol of HIRE.

For the period June 18, 2001 to July 16, 2001, the company's shares were temporarily traded under the Nasdaq symbol HIRED, to reflect the company's previously-announced one-for-five reverse stock split becoming effective. Twenty trading days have now passed since the company's one-for-five stock split became effective on June 18, 2001 and under Nasdaq National Market System rules, the company returned to its regular ticker symbol, HIRE.

"Starting today, investors can again trade our stock under our regular ticker symbol, HIRE," said Steve Allison, Webhire CFO. "As previously communicated in our Q2 earnings conference call, we are on target to achieve operating cash flow breakeven by the end of our September quarter. We believe in the company's strong market position and the long-term potential of the multi-billion dollar world-wide market for e-recruiting and human capital management solutions."

About Webhire

With the largest installed base in the industry, Webhire is the #1 choice in recruiting solutions in North America. Named in December, 2000 as one of the Top 100 ASP's by Information Resource Group, Webhire delivers business-to-business Internet recruiting solutions that help employers use the Web to quickly and cost-effectively advertise job openings, attract and evaluate talent, and manage the hiring process. Webhire's rapidly growing customer base represents every part of the economy and includes fast-growing firms like Akamai Technologies, Millennium Pharmaceuticals and Rational Software, as well as Fortune 500 corporations such as Northrop Grumman and Heinz. Webhire's largest investors are SOFTBANK Capital Partners and Korn/Ferry International, the world's leading recruitment company. The company has an exclusive strategic partnership with Futurestep, the Korn/Ferry subsidiary that is the foremost source for mid-level recruitment and career management and recently announced an important business partnership with Headhunter.net. More information about Webhire is available on the World Wide Web at http://www.webhire.com or by calling 1-877-WEBHIRE (or 1-781-869-5000 for international callers). Webhire, based in Lexington, Massachusetts (USA), is currently traded on the NASDAQ National Market under the ticker symbol HIRE.

Webhire is a registered trademark of Webhire, Inc. All other products and trademarks mentioned may be registered trademarks or trademarks of their respective owners.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements. Factors that might cause such a difference include overall economic conditions, the effectiveness of strategic partnerships, changes in technology and industry standards, increased competition and market acceptance of the Company's products and services and those of its competitors.