PROVEN BUSINESS MODEL AND STELLAR EXECUTION ARE KEYS TO SUCCESS

Contact Information: Gonzalo Castro press@laborum.com Tel:        (+011-562) 750-1576              (+011-562) 246-0606

SANTIAGO, Chile – August 24, 2000 – laborum.com ( www.laborum.com), the first and largest job site in Latin America, today announced that its online resume database had surpassed the 600,000 mark, consolidating its position as the largest online database in Latin America and among the Top 10 in the world.

In recent months, laborum.com, which has dominated the Latin American market since entering the field in November 1999, has been competing in an increasingly crowded field as dot-coms from across the Spanish- and Portuguese- speaking world enter the fray. Still, with operations in Argentina, Chile, Colombia, Mexico and Peru, the company has been able not only to maintain its position as regional leader, but also to establish itselfas the # 1 jobsite in four out of five local markets.

The rapid growth that laborum has experienced has pushed it beyond merely regional power status and into the world’s Top 10 online recruiting sites. laborum Founder and CEO Rafael Rodríguez commented, “Based on publicly available information and our own estimates, laborum.com is ranked among the Top 10 worldwide in terms of online resumes. Additionally, laborum has a 36% share of all online resumes in Latin America. Regionally we have more than double the number of our closest competitor.”

Unlike other Latin American online recruiters, laborum.com has adopted the U.S.-proven business model. Rodríguez continued, “laborum’s story follows the pattern demonstrated by successful companies in the US. In today’s investment climate, this is crucial—investors want more than ‘promises.’ They want results. We are delivering. It is amazing how companies are understanding this new Recruiting tool; recognizing the quality of our services and choosing to pay for them when most of the other regional sites give them away for free.”

At San Francisco-based Explorador.net, whose venture capital investments focus on the Latin American Internet space, investor Robert S. Klein agrees. “We are extremely pleased with the performance of laborum.com to date and its potential. It has demonstrated the ability to monetize its business plan and given us reason to invest in two rounds of financing.”

laborum.com ( www.laborum.com ), is the leading online jobsite and provider of recruiting solutions in Latin America. With operations in Argentina, Chile, Colombia, Mexico, and Peru, laborum.com enjoys its position as the region’s first and largest jobsite. Founded by Seminarium International, a prominent Latin American executive training and search firm with over a decade of experience, laborum.com taps the power of the Internet to address the Latin American recruiting needs of local and international companies. laborum.com is dedicated to better serving its users and clients; augmenting site functionality and suite of services; and harnessing the power of the Internet to become the total HR solution site of choice for Latin America and beyond.

Launched in November 1999, laborum.com has engaged in an aggressive expansion campaign throughout Latin America. As of the conclusion of its second round of financing in April 2000, laborum has received a total of $21 million from investors led by Seminarium International, Latin American Internet financing specialist Explorador.net, and Newbridge.