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Interim Services Inc. Buys 2 Million Shares of Xceed Inc. Formalizing Strategic and Joint Marketing Alliance

May 9, 2000; New York, NY —Xceed Inc. (NASDAQ: XCED), interactive architect and eBusiness solutions builder, and Interim Services Inc. (NYSE: IS), a global leader in human capital management, today announced they entered into a strategic alliance. As part of the alliance, on April 27th Interim made an 8.3% equity investment in Xceed through the purchase of 2 million shares of common stock totaling approximately $24.8 million. Interim will designate two members to serve on Xceed’s Board of Directors, and the two companies will exchange executives to facilitate joint marketing of services and technologies to key clients of both firms.

 

The alliance of Interim and Xceed offers clients true end-to-end eBusiness and technology solutions. Xceed utilizes a highly-skilled pool of more than 600 web-design consultants and professionals. This group of professionals specializes in the design, architecture and development of front-end e-commerce platforms, customer relationship management and sales automation systems. Interim Technology Consulting, a business unit of Interim specializing in areas such as software quality management, information design, development services and maintenance, helps companies make the critical connection between web-based solutions, such as those offered by Xceed, and the mainframe and client-server environments that are the backbone of every organization. The combined effort of the two organizations will provide expertise in every stage of developing and implementing eBusiness solutions on a global basis.

 

In addition to bringing full range solutions to a client’s front and back-end web systems, Interim can also provide the next step in maximizing clients’ eCommerce platforms through the outsourcing of distribution and fulfillment of web-driven orders, yielding cost savings and increased productivity for clients.

 

“The collaboration of Interim and Xceed brings so many benefits, not only to clients, but to our respective organizations as well,” said Ray Marcy, president and CEO of Interim Services Inc. “Interim can now capitalize on opportunities to service our base of Global 1000 clients, who already rely on us for technology solutions, by broadening their service platforms to include eCommerce solutions and interactive capabilities. In addition, the joint marketing agreement is designed to supplement revenue streams of both companies through the cross-selling of each other’s services.”

 

Scott Mednick, chairman and chief strategic officer of Xceed Inc. said, “The vast expertise Interim brings in the integration and implementation of software solutions with existing information system platforms, is a natural extension to our front-end interactive and eBusiness offerings. In addition, the technology professionals necessary to link clients’ back end processes with those of their customers and suppliers are in limited supply. As a bonus, we believe the leveraging of Interim’s search and recruitment expertise will aid us in the recruitment and retention of scarce, skilled IT professionals.”

 

About Interim Services Inc.

Interim Services Inc., with $3.8 billion in 1999 proforma revenues, is a human capital management company that helps clients strategically manage their workforce for optimum efficiency. Through more than 1,000 offices in North America, Europe and Australia/Asia, Interim provides consulting, managed staffing, outsourcing, search/recruitment and flexible staffing for a wide variety of skills including: information technology, finance, legal, technical and human resources; as well as clerical, administrative and light industrial. Visit the Company’s website at www.interim.com

 

About Xceed Inc.

Xceed (www.xceed.com) provides consulting and solutions to enable Global 2000 companies and market leaders to compete more effectively in the networked economy. The company leverages strategic relationships, vertical industry expertise and proprietary solutions to accelerate the development of a new, networked business model that makes enterprises smarter, faster and more valuable. With more than 600 professionals, Xceed is headquartered in
New York City with offices in San Francisco , Los Angeles , Phoenix , Salt Lake City , Chicago , Atlanta , Dallas , Denver , London and Amsterdam .

 

This press release contains certain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, regarding Interim’s market share, prospects and future growth in revenues and profits, all of which involve risks and uncertainties. Interim’s actual results could differ materially from the results anticipated in these forward-looking statements as a result of certain factors set forth under “Risk Factors” and elsewhere in Interim’s Registration Statement on Form S-4 filed on May 24, 1999, Interim’s Registration Statements on Form S-3 filed on April 23, 1998, and as discussed in Interim’s reports on Forms 10-K, 10-Q and 8-K made under the Securities and Exchange Act of 1934. In addition, changes in market, business or economic conditions, the integration of significant acquisitions or other transactions, could create material differences in the results anticipated in these forward-looking statements.

 

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties, including timely development and upgrades to existing products, the impact of competitive products and pricing, and other risks detailed from time to time in the Xceed's filings with the Securities and Exchange Commission (SEC). In particular, the Xceed's Form 10-K filed with the SEC in 1999 for the year ended August 31, 1999should be referenced

Media Contact:

 

Tricia Chamberlain     

 

(703) 917-7800

 

Investor Contact:     

 

Roy Krause     

 

(954) 489-6177

 

Media Contact

Lesly Cardec

954.308.6302

 

leslycardec@sfngroup.com

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