Recruitmax Concludes Best Year in 8-Year History

Workforce Management Solutions Provider Closes Banner Year with 99.5% Customer Satisfaction Rating; Add-On and Renewal Sales Increase More Than 600%; International Growth Accelerates-

PONTE VEDRA BEACH, Fla. - Recruitmax, a global provider of technology and services for building great workforces, today summarized its 2004 achievements that include a record 59 new enterprise clients as well as a 600% increase in add-on and renewal business. Other milestones for the year include its eighth straight year of increased revenues, significant international expansion including the opening of an international data center in Europe, two new product releases, a major acquisition, numerous industry accolades and superior ratings by leading analyst firms.

Recruitmax achieved revenue growth of more than 130% in 2004, winning what has been estimated to be nearly one-third of the enterprise e-recruitment opportunities in North America. The company attributes the significant growth to an increase in major new customer wins, license renewals, geographic expansion and enhanced product and service capabilities. New clients for 2004 included Perot Systems, T-Mobile, JetBlue Airways, KPMG LLP, CTG, Archer Daniels Midland, CDI, Humana, Kohler, HSBC, Pomeroy, LL Bean, Premier Health and Bank of the West, among others.

This was an exceptional year by all measures, said Derek Mercer, Recruitmax founder and CEO. With the economy improving and more companies shifting their focus to their workforce as a strategic asset, this is an exciting time for Recruitmax. We will continue to remain focused on providing our customers with the best technology and services to help them differentiate themselves through their people.

Early in the year, Recruitmax opened its EMEA headquarters and a data center in London to support U.S.-based multinational customers and local European organizations. Now fully staffed, the EMEA team has already closed a number of local European deals as well as some multinationals. Mercer added, I’m especially pleased by our international expansion. In a short time, our London office has signed up a number of major European firms and built significant momentum. We are expecting rapid growth in our European and Asia Pacific operations in 2005.

Among other 2004 highlights, Recruitmax launched new releases of its flagship Corporate and Staffing Editions; released two new products (Aloha, its employee onboarding solution, and Beyond for staffing vendor management); acquired employee performance management vendor KnowledgePoint; and, made significant enhancements to professional and customer support services.

Recruitmax ended the year with a customer satisfaction rating of 99.5%, based on customer survey results. Mercer commented, Perhaps the strongest indication of our satisfied customers is that our company’s add-on and renewal sales increased over 600 percent in 2004.

Recruitmax also continued to rack up industry honors, including: #1 Ranking in the HR Technology Conference’s Performance Management Shootout, #1 Ranking in Workforce Magazine’s ATS Hot List, #1 Functionality Ranking for 2004 by ERExchange, Human Resource Executive Magazine’s Product of the Year Award, Positive rating in Gartner’s e-Recruitment MarketScope, 2004 Deloitte Technology Fast 500 and a prestigious Codie Award finalist.

Our entire team executed with confidence and consistency on a variety of strategic initiatives, including the geographic expansion of our footprint and the broadening of our technology and services capabilities, said Recruitmax President, Jim Philip. We look to continue to build on the momentum we have created and execute with even more passion and clarity in 2005. We are honored to be increasingly recognized as the partner of choice for today’s most successful organizations and remain committed to delivering outstanding results for our clients 100% of the time.