BeyondWork Accepts $12.2 Million Capital Investment; Company Recognized for Market Leadership, Most Extensive Corporate Work/Life Program.

Business Editors & High Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--March 29, 2000

BeyondWork, Inc. (www.beyondwork.com), the leading provider of outsourced, Internet-delivered work/life benefits, announced that it has received a $12.2 million investment lead by New Enterprise Associates (NEA), a prominent Silicon Valley venture capital firm.

"With over 5600 member companies and the leadership position in our market, we look for partners who bring relationships that will leverage our business model," notes Israel Niv, CEO at BeyondWork. "NEA offers the experience and associations in the Internet, Health and Benefits markets that will help BeyondWork accelerate its growth."

"BeyondWork has demonstrated the effectiveness of a new e-commerce channel that it pioneered and today leads," said Chip Linehan, partner of New Enterprise Associates (NEA). "This is evident by their substantial, repeatable revenues as well as their ability to scale operations and attract a broad cross-section of the nation's leading businesses. NEA's investment in BeyondWork reflects our belief in their strong management team, business model and growth potential."

This latest investment follows an initial private funding (June of 1999) totaling $1.2 million. The initial funding was a collaborative venture of ten eminent Silicon Valley CEOs. These leaders recognized the competitive edge their companies would have by providing employees with access to products and services that integrate self, family, community and work. The result is BeyondWork's free Work/Life Connection(TM) that delivers access to entertainment and vacations, personal wellness and finance, children's summer camps, gift shopping and errand services right at employee's desktops. BeyondWork has demonstrated through the convenience of the Internet that any size business can play a role in improving the quality of life for employees and their families. By allowing employees to have access to Internet or intranet-delivered benefits right at their desktop, companies adopting BeyondWork's work/life benefits package simultaneously improve employee productivity and retention.

NEA has built a reputation of identifying emerging market leaders through its investments in companies like Netcentives Inc. (NASDAQ: NCNT), Juniper Networks (NASDAQ: JNPR), Tivo (NASDAQ: TIVO), WebEx, Healtheon/Web MD (NASDAQ: HLTH), eBenefits and eGreetings. "Our research has confirmed BeyondWork's position as the leader in outsourced work/life benefits. We also recognize the vitality and huge potential of this emerging e-commerce market," continued Linehan.

KLA-Tencor, who recently outsourced its work/life program to BeyondWork remarked: "After an extensive evaluation of the offerings of BeyondWork and its two main competitors, we selected BeyondWork to provide work/life benefits to more than 4,000 of our employees nationwide," said Ana Sanchez, Director of Employee Benefits at KLA-Tencor Corporation. "BeyondWork's service model, option of Intranet or Internet access and strong portfolio of work/life offerings made it easy for us to outsource our existing program. The result is better service for our employees and a more comprehensive and cost effective program for KLA-Tencor. The employees are so enthusiastic about it that over 10% signed up to use the service the very first day."

"We are very proud to have our leadership position validated by both NEA and KLA-Tencor," continued Niv. "Our goal is to create the premier Internet destination that every employer views as an essential service for its workforce and every busy employee across the country sees as their best resource for juggling the priorities of work, family, personal growth and community."

About BeyondWork

BeyondWork Inc., based in Santa Clara, California, is the leading provider of outsourced Internet-delivered work/life benefits. The "BeyondWork Work/Life Connection" is a free worksite marketplace for member companies and employees to access value-priced, in-demand information, products, and services from over 200 suppliers. BeyondWork's program enables a company of any size to provide a more competitive benefits package. Among the more than 5,600 member companies with over half million employees are innovative business leaders such as CNET, SGI, 3Com, Hotel Nikko, Lucent, Banc of America Securities and Exodus Communications. For more information, contact BeyondWork at [phone] or go to the BeyondWork Web site at www.beyondwork.com.

BeyondWork.com, the BeyondWork logo and Worksite Virtual Marketplace are trademarks of BeyondWork Incorporated. All other marks are the property of their respective owners.