EduNeering Online Learning System Provides Future of Compliance for Managed Care Organizations.

Business/Technology Editors

NEWTOWN, Penn.-(BUSINESS WIRE)--Jan. 31, 2000--EduNeering, Inc., a leading instructional design and technology firm, announced today its plans to launch a new portal for compliance professionals, a comprehensive e-commerce training model and a wide range of online learning systems focused on compliance training.

A new investor group led by venture capitalist Frank A. Martin, recently invested in EduNeering because of its proprietary technology and over 20 years in designing customized computer-based training systems. According to Martin, &uot;Our roots are working with companies that are subject to strict government regulation, but our future is pointed toward leveraging this expertise in many other markets.&uot;

Among the products being marketed is EduServer Manager, a comprehensive enterprise-wide system for designing, managing and delivering online learning. The system organizes all training initiatives, giving management the ability to monitor and document the training performance and progress of all employees - a critical feature for companies having to comply with government regulations.

The regulatory training provided by EduNeering is more specialized than basic skill training currently available on the Internet, and will focus on complex technical regulations mandated by such governing bodies as the Health Care Financing Administration.

EduNeering believes that the market for its new Internet training technology will track anticipated growth in the power and size of the Internet. According to the Internet Economy Indicators, the global online population in 1999 totaled 171 million web users compared with 3 million people connected to the Internet in 1993. Global Sight Corporation projects that the worldwide e-commerce market will reach $1.2 trillion by 2001, and the Association of National Advertisers reports that 44 percent of U. S. companies are selling online.

&uot;We believe much of the potential of the Internet is in market niches that have received minimal attention to date, and EduNeering's goal is to become a leading provider of corporate online training products and services,&uot; Frank Martin, president and CEO of EduNeering said. &uot;Already, more than 80 percent of companies surveyed by Training magazine use computer based training in their MIS departments, and it is also widely used in sales, customer service and operations. In 1998, the International Data Corporation reported that U. S. corporations spent approximately $9.13 billion on IT training and education, and that number is expected to reach $12.88 billion by 2001,&uot; Martin noted.

Industries particularly affected by the government-mandated training requirements that EduNeering's systems are designed to support include pharmaceuticals, medical devices, managed health care organizations, hospitals and health systems, medical group practices, clinical laboratories, home health agencies, food services, energy and manufacturing.

The Health Care Finance Association (HCFA) and the OIG (Office of Inspector General) have issued new training requirements for all Medicare/managed care companies. As of January 1, 2000, all Medicare+Choice Organizations must have education and training programs established by the end of 2000. In addition, the regulation states that the training must be documented and interactive.

As companies are now searching for cost-effective ways to train their staff, EduNeering offers a sound solution. Through their proprietary record management program and on-line training module series, companies can satisfy this new regulation by training both administrative and clinical staff, documenting their training and providing an interactive experience as well.

&uot;Based on widely accepted estimates of projected demand, our realistic business plan, and the ongoing work of our strong research and development team, we are confident that EduNeering is positioned to generate strong revenues from our training systems,&uot; Martin added.

EduNeering was founded in 1980 and was an early innovator in the field of Computer-Based Training (CBT). The company has developed the largest library of networked and distributed computer-based training titles for the energy industry, and has designed more than 350 technology-based training programs that have been used by more than 250 corporations in a variety of industries.

EduNeering also reported that it has relocated its executive offices from Pennington, NJ to Langhorne, PA, at 1 Summit Square.

For more information, please visit our web site at www.eduneering.com.