Dramatic growth in revenues, adoption, customers and alliances.

Sunnyvale, CA – Jan 11, 2005 — Elance Inc., the leading supplier of Services Supply Management solutions, announced record business growth in 2004. For the fourth consecutive year, Elance revenues were double the previous year's. The number and scale of deployments of the Elance Enterprise application suite grew dramatically resulting in the transacted spend increasing over nine times and the number of suppliers enabled quadrupling from the previous year. Elance expanded its relationship with virtually all its existing clients and added many new customers. Elance formed marketing alliances with two global system integrators. Industry analysts continued to recognize Elance as the leader in services supply management.

"Services Supply Management is gaining acceptance among Global 1000 enterprises because it contributes directly to financial and strategic goals," said Fabio Rosati, president and CEO of Elance Inc. He added, "The dramatic increase in adoption, and Elance's growth, are a reflection of our customer's success."

Elance's roster of Global 1000 clients expanded significantly in 2004. Recent additions include some of the world's leading companies in industries such as pharmaceuticals, telecommunications, consumer electronics, oil and gas, financial services, utility, transportation, engineering and industrial manufacturing, and advanced materials.

"Services procurement applications can have a real effect on the bottom line, both for buying companies and services suppliers," wrote Andrew Bartels, vice president of Forrester Research in his April 2004 report, "Services Procurement needs Executive Sponsorship to Achieve its Potential." He added, "Elance has the most advanced services procurement product in terms of coverage, supporting both discrete and ongoing service relationships, as well as time-, deliverable-, and units-and-materials-based services engagements."

The expanded relationships with existing customers reflect the increasing deployment of Elance Enterprise to manage newer and more complex service categories. Elance Enterprise is now deployed in a wide range of over 50 categories including marketing, consulting, print, offshore outsourcing, contingent labor, engineering, media, transportation etc. In aggregate, thousands of suppliers and tens of thousands of individual contractors across multiple categories have been enabled and are now using Elance Enterprise.

About Elance, Inc.
Elance is the leading provider of software solutions for Services Supply Management (SSM) that improve the way companies buy and manage outsourced services - one of the largest components of corporate spending. With the Elance Enterprise application suite, Global 2000 enterprises can reduce costs by 8-17%, improve service quality, ensure compliance, and bring visibility and control to their services supply chain. Elance also provides Elance Online, a web-based solution that enables small and medium-sized businesses to easily outsource projects to 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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