HIRESTRATEGY CEO SAYS WASHINGTON AREA ONE OF BEST PLACES IN THE U.S. TO FIND A JOB

Washington, DC, January 26, 2001

Greater Washington area remains one of the hottest job markets in the country, despite some recent job losses at local technology companies, according to Paul Villella, President and CEO of HireStrategy, a Reston, Virginia-based, Web-enabled executive recruiting firm serving technology businesses and professionals.

Speaking at the Capital Technology Summit at Georgetown University, Villella pointed to the January Job Opportunity Index (JOI), a monthly, comprehensive report about job opportunities nationwide compiled by FlipDog.com, one of HireStrategy's strategic partners.

"Both Virginia and Maryland rank among the top ten states in the nation in terms of opportunities for job seekers," Villella said. "And the District itself is among the hottest cities in the country in terms of technology, managerial and executive job opportunities."

Villella said Federal Reserve Chairman Alan Greenspan's remarks yesterday supporting a tax cut, plus the likelihood of further interest rate reductions, will help stimulate the Washington area economy during the second and third quarters this year.

Villella also quoted a new study by George Mason University Professors Stephen Fuller and Roger Stough that forecasts continued strong job growth in the Greater Washington area over the next five years. "Our highly-diversified local technology base - telecommunications, biotechnology, Internet, broadband, wireless and government IT and engineering contracting -- means our region will continue to grow faster than four other major technology centers in the country: Silicon Valley, Boston, Seattle and the Research Triangle area of North Carolina," Villella said.

"Private-sector led innovation and entrepreneurship are driving this region's economic growth," Villella said. "We have added more than 35,000 new businesses in this region in the last eight years, and new businesses continue to sprout up in all three local jurisdictions: Northern Virginia, Suburban Maryland and the District. Venture capital investment in this region topped $2.0 billion last year and should match that figure this year, with most of the new activity coming in the third and fourth quarters.

"Despite signs of a slowing local economy since Fall, including lay-offs and the closing of some dot.com companies, we will fare better than the rest of the country over the next several quarters," Villella said. "As far as Washington-area executive recruiting goes, December was our best month last year, and January and February are shaping up as better than we expected. We are seeing an increase in job orders from our corporate clients. This suggests that the economy here in the Washington area may already have bottomed out and may now be recovering. We expect to see a strong second quarter and an even stronger third and fourth quarter."

HireStrategy, Reston, Virginia, is a Web-enabled executive recruiting firm serving technology businesses and professionals. HireStrategy's innovative approach combines the power of the Internet with personal relationships built on years of highly successful management consulting experience. The company's Web site (www.hirestrategy.com), provides valuable career development resources for job candidates and proven recruitment and retention strategies for companies. HireStrategy's proprietary technology (the HireGuide™) enables personalized service through Internet channels for candidates and employers. The company, founded in January 2000, was named one of hottest executive recruiting firms in the area by Washington Business Forward magazine.