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ERNST & YOUNG ENTREPRENEUR OF THE YEAR AWARD PRESENTED TO CO-FOUNDERS OF TRANSLATIONS.COM

Business services award highlights growing demand for globalization services

NEW YORK, New York, June 29, 2001 — Phil Shawe, President and Chief Executive Officer of Translations.com, inc. and Liz Elting, Co-Founder of the company, received the 2001 Ernst & Young Entrepreneur Of The Year award for business services at the New York City awards banquet held earlier this week. The annual awards celebrate the achievements and inspiration of New York's most successful and innovative entrepreneurs. Chairman-elect of Ernst & Young, Jim Turley, presided over the event where representatives from over 40 finalist companies gathered for the awards.

Shawe and Elting, winners in the business services category, were honored for the success of TransPerfect Translations, a document translations company the pair founded in 1992 and Translations.com, a globalization services company they founded in 1999 to address the multilingual challenges of the digital age. Translations.com offers complete globalization and enterprise language solutions including website and software localization.

Mr. Shawe commented, "To be selected from among all the worthy companies who were considered for this award is truly gratifying. When Liz and I started out in business together nine years ago, we dedicated ourselves to providing the best service in the language industry and I believe that principle is the foundation of our success."

As regional award winners, Phil Shawe and Liz Elting are now eligible for entry into the National Entrepreneur Of The Year competition. Winners of the national competition will be announced at the national awards gala in Palm Springs, CA, in November. Past winners of the Ernst &Young Entrepreneur Of The Year award include Amazon.com, Southwest Airlines, QUALCOMM, Inc., Starbucks Corporation, and Best Buy Co. Inc.