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FOR IMMEDIATE RELEASE
US INTERACTIVE(R) NAMES EXPERIENCED BUSINESS EXECUTIVE TO CEO
Former Senior Executive From Pricewaterhouse Coopers, Bankers Trust
and Shearson Lehman Brothers to Lead Company.
PHILADELPHIA, PA - September 8, 2000 - U.S. Interactive, Inc. (NASDAQ: USIT), an
e-business solutions firm helping to transform some of the world's leading
companies into dominant business enterprises, today announced that William C.
Jennings, a member of the board of directors, has been named Chief Executive
Officer of US Interactive. Jennings, who was appointed by US Interactive's board
of directors, succeeds Stephen Zarrilli who has resigned from the company to
pursue other independent business ventures.
"As one of US Interactive's first employees, we are deeply grateful to Steve
Zarrilli for his enormous commitment in growing the company, taking it public
and helping US Interactive evolve to become a leader in the Internet
professional services industry, and we certainly wish him well in his future,"
said Eric Pulier, chairman, US Interactive.
Pulier added, "The Board is confident that US Interactive is in solid hands with
Bill Jennings. He's an active board member who, since joining the board more
than one year ago, has provided valuable leadership and guidance to US
Interactive. Bill has a stellar professional backgound that will greatly benefit
US Interactive as we capitalize on our global market opportunity."
With more than 36 years of successful business experience, Jennings joined US
Interactive's Board of Directors in August of 1999. Jennings, an independent
business consultant was previously a partner at Coopers & Lybrand and at
PricewaterhouseCoopers following the company's merger. Jennings also served as
senior executive vice president at Shearson Lehman Brothers and executive vice
president and chief financial officer of Bankers Trust.
"Our board has granted me an enormous responsibility to lead this dynamic
organization into its next phase," says Jennings. "My commitment is to help our
Company continue to grow and compete effectively through successful delivery of
creative and innovative solutions for our clients. I'm honored to join the
talented group of people who comprise this leading organization."
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About U.S. Interactive, Inc.
US Interactive (Nasdaq:USIT) is a leading e-business solutions company that
provides e2e Solutions (sm) to Global 2000 organizations. e2e Solutions utilize
Internet, wireless and broadband technologies and US Interactive's world class
strategic alliance network to help companies conceptualize, construct and manage
e-businesses that extend from behind the Web to beyond the Web. US Interactive's
proprietary e-Roadmap(R) delivery platform is customized to meet the needs of
each client. The program is delivered through the IVL Methodology (sm), a
process comprised of an innovation phase, a validation phase and a launch phase.
The company operates several practices to service a variety of vertical markets.
Founded in 1994, US Interactive has served some of the world's leading companies
including adidas, AIG, Asia Online, Dairy Farm International, Deloitte
Consulting, Disney Online, Sprint, Thomson Consumer Electronics and Toyota. US
Interactive currently has more than 825 employees in 15 locations around the
world including: Philadelphia, Los Angeles, Silicon Valley, New York,
Washington, D.C., Atlanta, Boston, Chicago, Murray Hill, NJ, London, Paris,
Munich, Toronto, Mumbai and Bangalore, India.
Forward Looking Statements
Certain statements made in this press release are not historical facts but are
"forward looking statements" and may involve risks and uncertainties which could
cause actual future results to differ materially and adversely from those
anticipated by such statements. Included among the factors that could affect the
Company's performance are general economic conditions; fluctuations in operating
results; our ability to effectively manage future growth, to retain and
efficiently integrate our executive management team, and to identify, hire,
train and retain, in a highly competitive market, individuals highly skilled in
the Internet and its rapidly changing technology; significant revenue
concentration in a limited number of clients; the lack of long-term contracts;
our ability to enter into, and retain our existing, strategic relationships;
market acceptance, rapid technological change, a decline in Internet usage, and
intense competition in our market; our ability to effectively integrate the
operational, managerial and financial aspects of future acquisitions; and our
ability to obtain financing when required. For a discussion of these and other
risk factors that could affect the Company's business, see "Risk Factors" in the
Company's Prospectus dated April 12, 2000.
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The US Interactive name, design, and e-Roadmap are registered service marks of
U.S. Interactive, Inc. IVL Methodology, CAPTURE, and e2e Solution are service
marks of U.S. Interactive, Inc. All other company names and products are
trademarks of their respective companies.
EDITOR'S NOTE:
Additional information, including other announcements, about U.S. Interactive,
Inc. is available at www.usinteractive.com.
Public Relations Contacts:
Amy Goldsmith, U.S. Interactive, Inc., phone: 310-889-3191, e-mail:
[email protected]
Investor Relations Contact:
Shawn Southard, U.S. Interactive, Inc., phone: 610-382-8879, e-mail:
[email protected]
