Recruiternet Announces Director of Business Development — Former Yahoo! Senior Producer Joins Growing Management Team

Business Wire, May 20, 2002

Business Editors

PORTLAND, Maine--(BUSINESS WIRE)--May 20, 2002

Recruiternet, Inc., a leading provider of Applicant Tracking Systems (ATS), today announced the addition of an experienced online executive to the Recruiternet management team.

Nate Smith, former Senior Producer at Yahoo! (NASDAQ:YHOO), has joined Recruiternet as Director of Business Development.

In his new position, Smith will guide the company's new business development, partnership efforts, and drive new alliances for Recruiternet's Projectix applicant tracking platform.

"We're delighted to have someone with Nate's experience as a member of our growing team," said Bob Neveu, President of Recruiternet. "I believe that Nate's partnership-building skills will add great value to our company. He is joining us at just the right time - we've recently brought several new clients onto the Projectix platform, and his strengths will help us maintain our momentum. As a company, we are positioned very well for providing win-win partner opportunities to resellers and consultants alike. Nate will drive this important part of our business."

Smith was previously a Senior Producer at Yahoo!, where he managed product development, marketing and partnership strategies for Yahoo! Small Business, Yahoo! Classifieds, and Yahoo! Real Estate. His management of Yahoo! customer acquisition programs resulted in a doubling of Yahoo! Real Estate and Yahoo! Small Business users. Smith was responsible for building co-marketing agreements and partnerships between Yahoo! Real Estate and major national real estate organizations.

"I am excited to go about my first order of business - sharing with potential partners the Projectix value proposition - that of low cost, scalability, and flexibility," said Nate Smith, Recruiternet's Director of Business Development. "Companies who wish to provide cutting-edge recruiting solutions to their clients without the infrastructure and development burden can greatly benefit from offering the Projectix platform directly to their clients. Projectix allows partners to rapidly create and scale client-configured solutions to complement their core offerings, creating an additional revenue stream with very little startup investment."

Recruiternet recently launched Projectix, a 100% Web-based Applicant Tracking solution designed to provide the flexibility to meet any company's recruiting and staffing needs. The Projectix product line, which includes Projectix Job Board, Projectix ATS, Projectix Enterprise, and Projectix Universal, enables companies to cost-effectively improve operational efficiencies under any market condition, as its numerous components and entry points empower corporate Human Resources departments of all sizes to automate their recruiting process. Projectix can easily be branded by clients and other Recruiternet partners for the facilitation of Projectix partnership programs.

Smith will report to Bob Neveu, founder and President of Recruiternet, and be headquartered in their Portland, Maine office.

About Recruiternet, Inc.

Founded in 1999 and headquartered in Portland, Maine, Recruiternet is a leading provider of Applicant Tracking System software for Global 1000 and mid-size businesses. With more than 300 clients, including Allied Domecq, CVS / Pharmacy, FleetBoston, Knight Ridder, Mercy Hospital, SGI, TJX Companies, and Wind River Systems, Recruiternet is exclusively focused on partnering with its customers to cost-effectively automate and enhance the recruiting and staffing process. For additional information, visit http://www.recruiternet.net