E-cruiter.com to acquire US recruitment research firm Omnipartners - 06/2001

E-Cruiter.com Inc, a provider of human capital management solutions - today announced that it has entered into a definitive agreement to acquire OMNIpartners Inc. and affiliates.

OMNIpartners is a Florida based recruitment research firm delivering executive and professional search services to the Fortune 2000.

The acquisition of OMNIpartners strengthens E-Cruiter.com's U.S. expansion strategy, and diversifies our suite of human capital management service offerings, said Michael Mullarkey, president and chief executive officer, E-Cruiter.com. This agreement moves E-Cruiter.com further into the U.S. market, while entrenching our services in Canada with the addition of new services to include targeted search for specific positions, and importing candidate data into the E-Cruiter human capital management system for our customers.

E-Cruiter.com's focus is to offer its North American customers a suite of products and execute on its HIRE TO RETIRE strategy. The company has been bundling Allen And Associates services, OMNI research and E-Cruiter.com technology as bundled services to its expanding customer base throughout North America with great success in joint customer calls and focused sales
strategy.

The all-stock transaction has been approved by the boards of both companies, and subject to shareholder and regulatory approval, is expected to close shortly. OMNIpartners is a private company with offices in Fort Lauderdale, Florida, Las Vegas, Nevada and Lancaster, Pennsylvania. The company will operate as a wholly owned subsidiary of E-Cruiter.com. In the transaction, the shareholders of OMNIpartners will receive E-Cruiter.com shares representing approximately 12% of the outstanding shares including shares to be issued on the closing of the acquisition of Paula Allen Holdings, Inc.

OMNIpartners was founded in 1990 and developed the concept of recruitment research at an hourly rate, as a lower-cost recruitment alternative. The company offers a range of recruitment research services to industries including retail, hotel, restaurant, gaming, food service, telecommunications, insurance, distribution, manufacturing, insurance, financial services, and information technology.

OMNIpartners has been designated as a Best Practices Preferred Provider for Tricon Global Restaurants, North America's largest restaurant company. Sears has also named OMNIpartners a Strategic Business Partner.

The strong combination of E-Cruiter.com and OMNIpartners rounds out our suite of recruitment service solutions and allows us to offer new services to our clients, said Mullarkey. This is an important step in our acquisition strategy and brings greater shareholder value to the company.

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