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Sprockets Announces New CEO, Stephen Orenberg Heads Up Team

Press release from the issuing company

BOSTON-- Oct. 10, 2001--Sprockets, the web based project management solution for corporate marketing organizations, advertising agencies and public relations firms, today announced the addition of Stephen Orenberg as CEO and member of the Board of Directors. In his new position Steve will lead the company's aggressive sales and marketing initiatives. "Sprockets is in the perfect position to solve a very real problem. Marketing professionals are demanding lower cost alternatives to travel and the delivery and distribution of marketing materials. They are also constantly wrestling with the challenges of coordinating and managing marketing programs that involve numerous internal departments and external vendors. The Sprockets Web Collaboration Platform specifically addresses those needs. It's a solution we can offer to them and we can offer it right now,'' said Orenberg. "I'm excited to be joining the Sprockets team at such a crucial time for the company and the market,'' he added. Most recently, Steve held the position of President at NetGuard, Inc., which he joined in 1999. While at NetGuard, Steve repositioned the company from a supplier of commodity network devices to a provider of network security solutions. Steve successfully built a new senior management team along with new sales and marketing groups, leading to increased revenues for NetGuard. Prior to NetGuard, Steve was President of the U.S.subsidiary of the anti-virus software company Dr. Solomon's Software, Inc. During his time there, Steve's leadership grew the company from a start-up to a nationally known organization in the security software marketplace. After establishing Dr. Solomon's as a leading provider of enterprise anti-virus solutions, the company launched it's first end user version in 1997, which became a national best seller within two months of it's introduction. The success of Dr. Solomon's ultimately led to the worldwide organization being acquired by Network Associates for $640 million. Before Dr. Solomon's, Steve held positions as Vice President of Sales and Vice President of Marketing at The Software Developer's Company, Inc., a company that marketed and sold technical PC software and hardware to corporations and end users worldwide. As Vice President of Sales, Steve's efforts expanded the company's product offering and more than doubled revenues in a one-year period. "Steve brings more than 25 years of extensive technology sales, marketing and management experience to Sprockets,'' said Robert Creeden, Sprockets Chairman of the Board and General Partner at Egan-Managed Capital. "Steve's proven leadership skills and his ability to execute successful revenue generating programs will be a big asset to the continued growth of Sprockets.'' Steve began his career with various sales and marketing management positions at AI Corp, Cognos Corporation and Epsilon. He attended Emerson College in Boston, MA