Industry Veterans Team to Build First Contact Collaboration System for Enterprises

"Enterprise Contact Collaboration" Discovers "Who Knows Whom" Among Coworkers

Boston, MA - October 29, 2001 - Technology industry veterans Geoffrey Hyatt, Michael Yoon, and Wilbur Swan announced today that they were formally launching a new enterprise that would develop and market an "Enterprise Contact Collaboration" software product under the name Contact Network Corporation.

The software, already under development, will allow coworkers to share valuable business contacts with one another efficiently and privately. It will also automate many contact collaboration functions that have previously required laborious user input and management.

Hyatt, who will act as CEO, was most recently founder and CEO of Strong Numbers, a pricing research firm for calculating current fair market values of over 10 million products. He led the company from start-up, raising venture capital and acquiring over 100 customers in 24 months, until its acquisition by Income Dynamics earlier this year. Prior to Strong Numbers, Hyatt was a manager at the Boston Consulting Group, where he managed strategic and operational projects for leading global technology companies.

Yoon is an engineer and Vice President of Technology at ArsDigita and former Systems Architect at Sapient. He will act as CTO of the new company, driving its development efforts and managing its support and service team.

Swan is the company's strategic advisor and an investor in the firm. He is a marketing executive who has held senior positions at ArsDigita, Esprit, and Patagonia and brings his years of experience to helping the new company devise its product roadmap and sales channel strategy.

"We see a great opportunity to help companies take full advantage of the rich body of contacts that are hidden in their organizations," said Hyatt. "This is a problem every company with a complex product or service and a relationship-based sale must face, and to address such a big market we needed a world-class team."

The company, to be headquartered in Boston, MA, anticipates a beta release of its product in early 2002, followed later in the year by a production launch of the software.