AMBROSE'S CEOS WIN 2001 ERNST & YOUNG ENTREPRENEUR OF THE YEAR AWARD

NEW YORK, September 2, 2001 - Ambrose Group, LLC, the leading provider of human resources administrative services, today announced that co-founders John Iorillo and Greg Slamowitz are recipients of the 2001 Ernst & Young New York Entrepreneur of the Year® award in the Employment Services category. The E&Y Entrepreneur of the Year program, which was established in 1986 to recognize founders of growing business ventures, celebrates demonstrated entrepreneurial success, industry innovation, and business ethics.

In 1996, Slamowitz and Iorillo, after carefully scrutinizing the outsourced human resource services market, redefined the industry's client base by providing specialized HR administration services to technology, business, and financial service companies. This niche approach allowed them to build a human resource platform that provided top tier customer service and cultivated strong client relationships. The two partners, who started five years ago in a cramped one-room office in the Woolworth building, have built Ambrose into an industry leader that currently services 190 companies in 36 states. Proving they have no intention of slowing down, Ambrose announced earlier this year the launch of a web-based platform that places real time human resource information directly in the hands of managers and employees at small to medium-sized companies.

"Our client and partner relationships, in addition to the Ambrose team, have been the strength of our company over these last few years," says Co-CEO Greg Slamowitz. "We're a people oriented company that relies upon the hard work of our team and the good word of our clients and peers."

This sentiment is mirrored in the words of Co-CEO John Iorillo. "We share this award with our hard-working colleagues here at Ambrose and with close friends that have been integral to our company's success. We are continually striving to provide a cutting edge, first-rate HR platform, but without the efforts of others this would not have been possible."

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, business, 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 jgoldin@ambrosegroup.com.