New Tools Make it Easier and More Effective to Select, Manage, and Pay Your Flexible Workforce

Mountain View, Calif. – October 26, 2006 — Elance (www.elance.com), the internet's alternative to traditional hiring, today announced a major expansion of tools and features available to the Elance community.  Highlights of this service upgrade include:

• Elance Escrow: The new escrow service allows employers to place funds in escrow and release partial or full payment when pre-determined deliverables or work milestones are met.  Elance Escrow creates a new level of security for employers and professionals at no additional cost.
• Elance 1099: The new 1099 service automatically collects data, generates and files 1099 and W-9 forms to simplify tax preparation for employers, at no additional cost.
• Hourly Rates: Elance employers can now receive quotes and hire on an hourly or fixed-price basis at their discretion, offering increased flexibility to buyers and professionals.
• Milestones: Employers and professionals now can pre-define and track milestones to make managing work even easier.  Milestones work hand in hand with Elance Escrow to streamline management and payment.

“Elance's growth showcases the demand for flexible work in today's online, global economy,” said Fabio Rosati, President and CEO of Elance.  “These recent enhancements, many inspired by feedback from our users, enable professionals and employers to do great work together more easily and cost-effectively.”

About Elance
Elance gives you the power of a flexible workforce. Tens of thousands of small businesses use Elance to get work done without the overhead and hassles of traditional hiring: they post their projects to the Elance professional network and use Elance's tools to hire, manage and pay for the work. Elance's self-service staffing model allows businesses to remain nimble while getting work done quickly and cost effectively, also bringing great work to a global network of individual professionals and specialized firms. Headquartered in Mountain View, California, Elance services employers and providers globally with over 500,000 projects completed to date.  For more information on Elance, please visit www.elance.com

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

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