Perseus Named to Inc. 500, Deloitte's Technology Fast 500, and Software Magazine's Software 500

Business Wire, Oct 20, 2004

BRAINTREE, Mass. -- Perseus Makes Inc. 500 and Fast 500 for Second Consecutive Year

Perseus Development Corporation, the global leader in web-based survey and Enterprise Feedback Management solutions, has been named to Inc. Magazine's annual Inc. 500 ranking of the fastest-growing private companies in the country. In addition, Perseus has been named to the 2004 Deloitte Technology Fast 500 as one of the fastest-growing technology companies in North America, and to Software Magazine's Annual Software 500, as one of the world's largest software companies. Interestingly, Perseus ranked #356 on both the Inc. 500 and Fast 500.

"Being named to three different '500 lists' by three distinguished organizations provides external validation of our industry leadership and innovation in the Enterprise Feedback Management solutions category," said Rich Nadler, President and CEO of Perseus. "The rapid growth rate honored in these rankings demonstrates the results of our commitment to customer care and innovative product development."

Inc. 500

The premier publication for small and medium-sized businesses, Inc. Magazine, today released its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. Perseus ranks #356 on the list, with four/five year average annual sales growth of 520 percent.

The companies that made the Inc. 500 have thrived despite continued stagnation in the economy, posting an average year-over-year sales growth of 265%. Inc. 500 companies posted aggregate 2003 revenue of $12.6 billion, and 82% of them were profitable. And while the United States shed 410,000 jobs in 2003, Inc. 500 companies provided employment for more than 70,000 people.

Further demonstrating the resilience of this year's Inc. 500 crop is the fact that 102 of this year's honorees started in 1999--meaning that they weathered the start-up costs of the overcapitalized boom and thrived during the impending bust that was one of the toughest periods for young companies in recent memory.

"The best thing you can say about this year's crop of Inc. 500 entrepreneurs is that they didn't buy into the hype," said Inc. editor-in-chief John Koten. "When people were practically giving away funding in the late 1990s, these companies didn't overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity."

The Inc. 500 ranks privately held companies according to averaged year-over-year sales growth over the past four years. With approximately 75% of all new job creation in the U.S. coming from small businesses, the Inc. 500 is a prescient indicator of the companies and industries that are driving the economy forward.

To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.

Fast 500

Perseus is ranked number 356 fastest growing technology company in North America on the 2004 Deloitte Technology Fast 500. Rankings are based on the percentage revenue growth over five years, from 1999-2003. Perseus grew 520 percent during this period.

The Fast 500 list is compiled from Deloitte's 19 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1999 operating revenues of at least $50,000 USD and $75,000 CD for the United States and Canada, respectively; and 2003 operating revenues must be at least $1 million USD or CD.

Software 500

Perseus was also named to Software Magazine's Annual Software 500, ranking Perseus as one of the world's largest software companies. The Software 500, Software Magazine's list of the world's foremost software and service providers, is published as an online catalog on www.Softwaremag.com.

The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting enterprise IT organizations. The list includes both private and public companies; 30% of the 2004 Software 500 companies are private. The Software 500 is a worldwide list in that any company may submit financial and product information via the annual Software 500 survey, conducted 100% on the Web. The ranking is based on total worldwide software and service revenue for 2003. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting.

About Perseus Development Corporation

Perseus is leading the transition from web survey systems to Enterprise Feedback Management (EFM) solutions that help organizations better understand their world. Organizations worldwide rely on Perseus solutions to identify employee, customer and partner needs, promote process change, improve loyalty, maximize satisfaction and optimize business growth. Perseus products enable business professionals to quickly and easily obtain, analyze, and manage sophisticated enterprise feedback using intuitive web-based software. Perseus SurveySolutions(R) is a recipient of PC Magazine's Editors' Choice award for web-survey software, and is used by over 16,000 customers worldwide including over twenty-percent of the Fortune 100. Perseus is a 2003 Inc. 500 company, and a four-time Deloitte & Touche Fast 50 company.