Webhire Announces Effective Date for Reverse Stock Split.

Business/Technology Editors

LEXINGTON, Mass.--(BUSINESS WIRE)--June 15, 2001

Webhire Inc. (Nasdaq: HIRE), the #1 choice in recruiting solutions, today announced that its one-for-five reverse stock split will become effective upon the commencement of trading on Monday, June 18, 2001.

Under the terms of the reverse split, each five shares of Webhire common stock outstanding prior to June 18th will be reclassified as, and exchanged for, one share of newly issued common stock. The new shares will initially be traded under the Nasdaq symbol HIRED, temporarily replacing the symbol HIRE, to reflect the split's becoming effective. It is anticipated that the company's stock trading symbol will revert to its normal symbol, HIRE, on or about July 17, 2001.

"We expect that the reverse split will bring Webhire's stock price in line with the listing requirements for the Nasdaq National Market," said Steve Allison, Webhire CFO. "This action should make our stock more visible and more attractive to investors. Given our extensive installed base of customers and our expected achievement of operating cash flow breakeven by the end of our September quarter, we remain very confident in our future and in the business opportunity in the worldwide e-recruiting market."

Instructions for exchanging Webhire shares pursuant to the reverse split are being mailed to all of the Company's shareholders. Any questions regarding this transaction should be directed to Steve Allison, Webhire CFO, at [phone].

About Webhire

With the largest installed base in the industry, Webhire is the #1 choice in recruiting solutions in North America. Named in December, 2000 as one of the Top 100 ASP's by Information Resource Group, Webhire delivers business-to-business Internet recruiting solutions that help employers use the Web to quickly and cost-effectively advertise job openings, attract and evaluate talent, and manage the hiring process. Webhire's rapidly growing customer base represents every part of the economy and includes fast-growing firms like Akamai Technologies, Millennium Pharmaceuticals and Rational Software, as well as Fortune 500 corporations such as Northrop Grumman and Heinz. Webhire's largest investors are SOFTBANK Capital Partners and Korn/Ferry International, the world's leading recruitment company. The company has an exclusive strategic partnership with Futurestep, the Korn/Ferry subsidiary that is the foremost source for mid-level recruitment and career management and recently announced an important business partnership with Headhunter.net. More information about Webhire is available on the World Wide Web at http://www.webhire.com or by calling 1-877-WEBHIRE (or [phone] for international callers). Webhire, based in Lexington, Massachusetts (USA), is currently traded on the NASDAQ National Market under the ticker symbol HIRED; it is anticipated that the company will revert to its normal symbol HIRE on or about July 17th, 2001.

Webhire is a registered trademark of Webhire, Inc. All other products and trademarks mentioned may be registered trademarks or trademarks of their respective owners.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements. Factors that might cause such a difference include overall economic conditions, the effectiveness of strategic partnerships, changes in technology and industry standards, increased competition and market acceptance of the Company's products and services and those of its competitors.