HRsmart Announces Record First Quarter Financial Results

HRsmart Inc., a leading provider of web-based talent management solutions, and one of the fastest growing and most profitable firms in the industry, today announced record first quarter financial results for the period ending March 31, 2003.

PRESS RELEASE

FOR IMMEDIATE RELEASE

HRsmart Announces Record First Quarter Financial Results

(Plano, TX, June 20, 2003) - HRsmart Inc., a leading provider of web-based talent management solutions, and one of the fastest growing and most profitable firms in the industry, today announced record first quarter financial results for the period ending March 31, 2003.

Revenue for the first quarter of 2003 increased by 112% percent when compared with first quarter 2002 results.

Net income for the first quarter of 2003 rose by 153% percent when compared to 2002 first quarter results.

HRsmarts continued growth has been driven by our superior technology platform, proven business model and strong customer base," said Mark Hamdan, president and CEO of HRsmart. Recently, we added online Performance Management, Learning Management, Career Development, Succession Planning and Employee Referral solutions to our product suite. The addition of these post-hire solutions plus our strong partnership with IBM elevates HRsmart into a class by itself. We are very enthusiastic about the remainder of 2003, as the demand for our talent management solutions continues to grow," continued Hamdan.

HRsmarts strong quarterly performance was marked by the addition of 23 new clients. Some of the new clients that selected HRsmart during the first quarter of 2003 include Campbell Soup, Saks Fifth Avenue, LSG Sky Chefs, Sunoco, US Steel and Koch Industries. The addition of these new clients represent the hard work and dedication of our employees who continue to focus on our customers needs by providing them effective and affordable talent management solutions," continued Hamdan.

About HRsmart

Founded in 1994, with offices in the US and Latin America, HRsmart is a B2B Application Service Provider (ASP) for the rapidly growing Internet talent management industry. HRsmart provides a fully hosted, network-delivered suite of talent management software solutions including applicant tracking, online recruiting, performance management, learning management, career development, succession planning, employee referral and job distribution.

HRsmart supports a wide range of clients including but not limited to the medical, retail, manufacturing, financial, government, hospitality, petrochemical and telecommunications industries. Many companies, including Fortune 500 companies, commercial public career boards and recruiting firms turn to HRsmart for their talent management needs. HRsmart is an IBM certified e-business on demand (ebod) solution partner. For more information, please visit www.hrsmart.com.

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Contact: Brian Bagnall
972-398-6540
bbagnall@hrsmart.com