Recruiting Solutions International, Inc. Continues to Grow at Record Pace in 2003

DENVER, CO ñ March 23, 2004 ñRecruiting Solutions International, Inc. (RSI), a leading provider of modular, Web-native human capital management solutions, announced today it has sustained tremendous growth in 2003, generated by 130 new customer wins and the companyís continued commitment to providing first-rate customer service and support. Significant enhancements to RSIís WorkforceERPTM product stimulated record-breaking revenues in 2003. With an impressive list of new customers and the release of new product modules and system upgrades, RSI is poised and on track for continued success throughout 2004.

Growth
Some of RSIís impressive growth metrics include:
Total revenues for 2003 increased by 49% compared to 2002

2003 revenue growth was steady with quarterly revenue records established in seven successive quarters

Recurring revenues grew 81% in 2003

In 2003, recurring hosting revenues accounted for 58% of total revenues, with the remainder from implementation, custom development, and consulting services
In 2003, RSI added 130 new customers reflecting a 25% growth in customer acquisitions compared to 2002

In 2003, after tax net income grew by 170% over 2002

Customers
RSI continues to attract a successful and diverse customer base from all industries, including a substantial base in education, finance, technology, retail, manufacturing and healthcare. In 2003 RSI acquired 130 new customers bringing its total client list up to more than 400. A sample of those clients include: Ethan Allen; Bonfils Blood Center; Visteon; The Irvine Group; Lincoln Financial; L-3 Analytics Corporation/EER Systems/Space & Navigation/SYColeman; Bureau of National Affairs (BNA); Johns Mansville; Advest, Inc.; T-Systems; Rodale and CPI Corporation.


In 2003 RSI released a significant upgrade to its WorkforceERP product module, expanded its consulting services and strengthened partnerships with industry leaders such as Ceridian Corporation and PEARL Solutions.

Product Upgrades
The newest release of WorkforceERP, introduced in May 2003, is equipped with enhanced Home Page options that enable users personally define the skin of their application with custom colors palettes, menu orientations and navigation features.

Enhanced Consulting Services
RSI expanded its industry-leading consulting and change management services to meet its goal of delivering 100 percent customer satisfaction. With more than 400 implementations under its belt and a 99 percent client retention rate, RSI continues to lead the industry not only with robust workforce management solutions but also with top-rated customer service, support and consulting services.

Partnerships
RSIís strategic partnership with Ceridian, a leader in managed business solutions for human resources and employee effectiveness services, continued to be a strong force in 2003 and drove business opportunities for both organizations.

In 2003 RSI also announced a strategic partnership with PEARL Solutions, a subsidiary of Pearson Reid London House, to provide end-to-end human capital management solutions. Together, RSI and PEARL Solutions have developed a comprehensive Hourly Hiring Management System (HHMS) that eliminates labor-intensive, paper-based recruiting and workforce management processes and gives hiring managers more time to focus on attracting the most qualified candidates.

ìDespite a challenging economic climate in 2003, RSI has continued to assert itself as a leader in the industry and as a premier provider of effective and modular workforce management solutions,î said Mark Henninger, founder and CEO of RSI. ìWith our 2003 growth statistics and high customer acquisition rates weíve demonstrated that our application architecture and customer service philosophy are a winning combination and that our solutions are valuable to the market because they allow companies to increase efficiencies and focus on their core business.î