Ambrose CEOs named finalists of Ernst and Young Entrepreneur of the Year Award

NEW YORK CITY, JUNE 14, 2001 - John Iorillo and Greg Slamowitz, co-founders of Ambrose Employer Group, LLC, are among this year's finalists for the Ernst & Young New York Entrepreneur of the Year Award®. The E&Y Entrepreneur of the Year program, which was established in 1986 to recognize founders of growing business ventures, celebrates entrepreneurial success, innovation, and business ethics. The panel of judges includes representatives from CNN, Nasdaq, Marsh, Citigroup, and USA Today. The awards ceremony will take place on June 26th in New York City.

About the Entrepreneur of the Year Award

In 22 countries, Ernst & Young presents its Entrepreneur Of The Year award to the most successful and innovative entrepreneurial business leaders. Entrepreneur Of The Year winners represent virtually every industry - from the traditional to the cutting edge-from around the world. Many of the companies have become household names: Amazon.com, Southwest Airlines, Enterprise Rent-a-Car, QUALCOMM, Inc., Starbucks Corporation, and Best Buy Co. Inc. Winners are selected by elite, blue-ribbon panels of judges composed of community, business and civic leaders, academics, and prior-year award winners. All regional award recipients go on to compete in one of several national Entrepreneur Of The Year categories and the national Entrepreneur Of The Year at the Ernst & Young EOY International Conference awards gala in Palm Springs, California, November 15-18, 2001.

About Ambrose Group

Ambrose Group, LLC is a professional employer organization ("PEO") providing human resources, payroll, benefits services, and HR information systems to small and mid-size companies. Ambrose provides health and dental coverage, 401(k) plans, payroll processing, workers' compensation coverage, flexible spending accounts, a host of other employee benefits, and regulatory and administrative services. Founded in 1997, Ambrose serves technology and financial service firms in 36 states. Ambrose has offices in New York City, Mountain View, California, and Boston, Massachusetts. Additional information about Ambrose is available by contacting info@ambrosegroup.com.

Excerpts from www.ey.com were included in this release.