Recognized for Demonstrated Expertise and Continued Innovation in Services

Sunnyvale, CA – June 23, 2004 — Elance, Inc., the leading provider of software solutions for services procurement and management (SPM), has been named to the 2004 Supply & Demand Chain Executive 100. The Supply & Demand Chain Executive 100 is an annual list that honors the top supply chain solution providers and vendors that are helping to lead and transform the way companies do business in the area of supply and demand chain management. This year's list recognizes companies that were able to adapt to the changing needs of the market through innovative solutions and services offerings. Elance's integrated application suite was selected for its ability to digitize how companies buy and manage a wide range of services, including temporary staffing, consulting, marketing, asset maintenance and construction services.

"This endorsement from Supply & Demand Chain Executive is a testimony to Elance's rapidly growing customer base of Fortune 500 companies and to the growing importance of services procurement and management technology," said Fabio Rosati, President and CEO of Elance, Inc. "We want to thank Supply & Demand Chain Executive for acknowledging Elance as one of the top companies driving excellence in supply chain solutions."

Elance recently announced Elance SPM 4.5, the latest version of its services procurement suite that improves the way organizations buy and manage services. Elance SPM 4.5 includes new capabilities that strengthen Elance's support for global deployments and mission critical services such as construction, research and development, marketing and asset maintenance. Elance customers include FedEx, Motorola, General Electric, BP, Tennessee Valley Authority and many other Fortune 500 companies.

The 2004 Supply & Demand Chain Executive 100 are providers that can demonstrate that they will be around for the long-term, that have relevant industry knowledge and expertise, that address specific pain points in the supply chain, that can demonstrate a return on investment and that are continuing to drive innovation in their solutions and services offerings. Final recipients are featured in the cover story of the June/July 2004 issue of Supply & Demand Chain Executive, as well as online at www.SDCExec.com.

About Supply & Demand Chain Executive
Supply & Demand Chain Executive is a bi-monthly business magazine aimed at uniting the intelligence, news and tools necessary to steer the supply and demand chain management professional and business executive through the complicated, yet critical, world of supply and demand chain management. With hard-hitting analysis, viewpoints and unbiased case studies, Supply & Demand Chain Executive will uncover each aspect of the new supply and demand chain to keep readers on the leading edge, the frontline and the profit zone.

About Elance, Inc.
Elance is the leading provider of software solutions for Services Procurement and Management (SPM) that improve the way organizations buy and manage services - one of the largest components of corporate spending. With the Elance SPM 4 application suite, large organizations can gain visibility into services spend and performance, establish and control enterprise processes, and achieve 10-20% hard cost savings across a broad range of external service categories. Elance also provides the Elance Online services marketplace, the leading Web-based project marketplace that connects small- and medium-sized businesses with a global pool of high-quality service providers. For more information on Elance, please call 650-316-7500 or visit www.elance.com.

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Elance, Elance SPM 4 and Elance Online are trademarks or registered trademarks of Elance, Inc. in the United States and other countries.

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