Successful Beta Release of First "Enterprise Contact Collaboration" Solution

Contact Network Corporation Debuts Value of Simple, Powerful Solution in Beta

Boston, MA - June 17, 2002 - Contact Network Corporation today announced the successful beta release of its revolutionary "Enterprise Contact Collaboration" solution, which allows coworkers within an enterprise to easily and privately share useful business contacts with each other.

The solution, now in beta release, eliminates the inefficiency and impracticality of searching for useful contacts by conventional methods: "walking the halls," sending "blast" e-mails asking for introductions, or poorly adopted central contact systems. The Enterprise Contact Collaboration software gathers contact information from existing data sources throughout a company and "scores" the relevance of the contacts to a searcher's request. Useful contacts are then presented to the searcher, much the same way Google finds and presents relevant web pages.

"The early response from companies testing this software is extremely positive," said Geoffrey Hyatt, CEO of Contact Network Corporation. "There is clear value to rapidly getting a comprehensive list of valuable contacts from your coworkers. It speeds up sales cycles by eliminating cold-calling, and allows employees to use their time more productively."

Hyatt expects that organizations that rely on complex, relationship-based sales will be the biggest beneficiaries of the Enterprise Contact Collaboration solution. "Anywhere that an introduction to a variety of people within a target can help win business-whether it's to a decision maker, someone with valuable intelligence, or to an influencer-will get a lot out of our solution," says Hyatt. "Ultimately almost any sales or relationship-seeking function will need this."

Contact Network Corporation plans the beta phase to last for four months, with a commercial product release later in 2002.