March 12, 2002

Experience.com, Inc. Acquires eProNet, the Leader in Alumni Recruiting

Acquisition Creates Largest University-Based Network in $20 Billion Educated Talent Market

Boston, Mass. March 12, 2002 - Experience.com, Inc., the leading provider of recruiting networks for the university and graduate school talent markets, announced today the acquisition of eProNet, the premier provider of alumni recruiting solutions.

Today’s agreement significantly expands the breadth and depth of Experience’s offerings to both enterprise and university customers. Experience’s eRecruiting Network is already the leading platform for career development and placement at universities across the country. With the addition of eProNet’s alumni recruiting service, Experience has created a seamless solution for universities to maintain relationships with students and alumni throughout their careers.

Experience’s corporate customers can now cost-effectively recruit experienced talent from eProNet’s exclusive pool of mid- and senior-level professionals. In addition, organizations can begin developing long-term relationships with potential candidates as early as the candidates’ first year in college.

“The acquisition of eProNet accelerates our growth and positions Experience as the standard in university-based recruiting networks,” says Jennifer Floren, president and CEO of Experience.com, Inc. “The 3,800 universities across our network are the source of new and diverse talent that fuels our economy’s growth and innovation. In this tough economic environment, our corporate customers have demanded better, faster and more cost-effective solutions to tap into this world-class source of human capital.”

eProNet has exclusive relationships with over 20 of the leading universities in the country, including the top business, technology and science programs. Its partners include Massachusetts Institute of Technology, Columbia University, Carnegie Mellon University, Cornell University, University of Chicago, Duke University, The Ohio State University, Darden Graduate School of Business Administration at University of Virginia, and Yale University.

eProNet alumni candidates have an average of 5 to 20 years of experience in engineering, business, technology, the sciences and other fields, and over 70 percent hold advanced degrees. By working through the alumni associations at top universities, employers gain access to some of the hardest-to-find active and passive candidates that are typically not found on job boards or via traditional recruiting methods.

“Our unique strength in the alumni market combined with Experience’s leadership and proven technology creates a whole new capability to build lifetime relationships with these candidates and universities,” says Andy Chan, CEO of eProNet. “A single platform that directly connects the schools, educated talent and the employers throughout the career lifecycle will be a huge win for both our corporate and university customers.”

Using a similar business approach as Experience, eProNet leverages its relationships with universities to attract talented candidates. The company provides its alumni association partners with co-branded web site technology and recruiting services, and the alumni associations then help drive the ongoing marketing, attraction and aggregation of candidates as part of their own suite of alumni services.

About Experience.com, Inc.
Experience.com, Inc. is a leader in the educated talent market. Founded as a result of a merger in January 2000, the company provides recruiting and career management technology and services to universities and graduate schools. Just released in December 2001, the Experience eRecruiting Network for Employers connects enterprise organizations to an exclusive, university-branded network—with access to 3800 universities and millions of potential candidates—and manages the unique workflow of the recruiting process for educated talent. Based in the historic Faneuil Hall Marketplace in Boston, Massachusetts, Experience is venture-backed by Polaris Venture Partners, Isabella Capital LLC, Benefit Capital Management Corporation, Diamond Capital and a number of other private investors. More information about the company is available at the corporate web site, http://www.experience.com/.

About eProNet
eProNet was founded in 1990 by the alumni associations of Stanford, MIT, UC Berkeley and UCLA as "University ProNet" (UPN). UPN was designed to serve as a job placement service for alumni of these top universities. In January 2000, UPN merged with MindSteps, Inc., a leading provider of online career self-assessment and development tools for individuals and corporations. The new entity was renamed eProNet and over the following two years established itself as a premier online recruiting and career management network with exclusive co-branding and co-marketing agreements at over 20 of the top US universities and business schools. eProNet provides corporate recruiters access to a highly desirable talent pool of hundreds of thousands of mid- and senior-level professionals with strong backgrounds in engineering, business, technology, the sciences and related fields. eProNet candidates have an average of 5 to 20 years of experience and over 70 percent hold advanced degrees.

eProNet is privately held and backed by Warburg Pincus Ventures, and is located in San Mateo, California. Additional information about eProNet can be found at www.epronet.com. http://www.epronet.com/.

Contact:
Colleen Dambach
Marketing Manager
Experience.com, Inc.
617.305.7400
cdambach@experience.com

Kate Kalmakis
Connors Communications
212-807-7500
kate@connors.com