Montgomery went on to say that while a shakeout among Internet businesses has left a number of dot-com companies scrambling to justify their business models, Headhunter.net's business continues to thrive, fueling the company's overall growth and performance.

Yesterday, Headhunter.net reported record second quarter revenue of $9.8 million, a 516% increase over the second quarter of 1999. During the quarter, the company also opened five new sales offices in Philadelphia, Austin, Cincinnati, Tampa, and San Jose.

"Headhunter.net has achieved significant increases in revenue every quarter as a publicly traded company," said Mark Partin, Chief Financial Officer of Headhunter.net. "The largely untapped online recruiting industry is projected to grow to $1.7 billion by 2003. With historical growth in every segment of our business and margins of over 98%, we believe we are on the path to profitability."

Headhunter.net now serves more than 10,000 corporate clients across the country. The merger with CareerMosaic opens doors to a host of additional Fortune 1000 clients and adds the nation's largest recruiting ad agency, Bernard Hodes Group, Inc., to the company's growing roster of blue chip clients. The new Headhunter.net will be based in Atlanta and will maintain sales offices in Northern California, New York, Los Angeles, Dallas, Boston, Philadelphia, Washington, D.C., Austin, Cincinnati and Tampa. Just last week, the Company announced the expansion of its Chicago-based Strategic Business Development unit, which is charged with cultivating strategic partnerships to extend marketing reach and attract targeted job seekers and job postings.

"The completion of our merger is a great accomplishment," continued Montgomery, "but is nothing compared to the task ahead. We must fully integrate our assets - the best of which is our people - if we are to accomplish our goal of becoming the leader in our industry."

About Headhunter.net

Headhunter.net (www.Headhunter.net) is a leading national online recruiting and job awareness network, empowering candidates and corporations to manage the job search process. With the merger of Headhunter.net and CareerMosaic, the combined sites will feature more than 700,000 resumes and over 250,000 jobs representing 10,000 of the nations' top employers across virtually every industry. The new Headhunter.net, which will serve more than 6 million visitors a month, distinguishes itself by providing job seekers privacy when searching and applying for jobs, and allows job seekers and job posters to manage and track the visibility and performance of their listings.

Forward-Looking Statements

Some of the preceding statements in this press release constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Company intends that such forward-looking statements be subject to the safe harbors created thereby. Examples of words indicating forward-looking statements include "believes," "expects" and "will." These forward-looking statements reflect the Company's current views with respect to future events and financial performance, but are subject to many uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements. Please see Headhunter.net's Form 10-K, as amended, for a list of such uncertainties and factors. The Company undertakes no obligation to update or revise any forward-looking statement whether as a result of new information, future events, or otherwise.

CONTACT: Creaxion
Mark Pettit, 404/495-4425
[email protected]

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