booktech.com Announces Recent Financing Details.

Business Editors

WOBURN, Mass.--(BUSINESS WIRE)--April 19, 2000

Company Raises $7 Million in New Capital; Accomplished and Experienced

Management Team On Board

booktech.com, Inc. (AMEX: BTC) an emerging E-education and knowledge management provider today revealed specific use of proceeds for their recent round of financing and formally announced their management team.

In conjunction with booktech.com becoming a public company and listing on the American Stock Exchange on April 5, 2000, the company completed a $6.7 million private placement of equity securities. The Verus Group acted as placement agent for the offering. The proceeds will be utilized as follows to advance booktech.com's competitive advantage in the E-education market: e-commerce development ($2.5M), marketing ($1.1M), intellectual property development & management ($0.5M), business development/general administrative ($2.6M).

Dr. Morris Shepard Chairman and CEO stated, "We have successfully targeted and marketed specific institutions within the education sector over the last 12 months and have achieved a 100% growth rate in these specific areas. With the completion of this funding we expect to ramp up our business model, target additional markets and institutions and look for acquisition targets that fit well within our model."

"Over the last few years booktech.com has assembled a season and talented management team", concluded Mr. Shepard. The team is comprised as follows:

Morris A. Shepard, Ph.D., Founder, Chairman and CEO has a background encompassing experience in management, sales and marketing, executive training, journalism, teaching at the University level, and public policy analysis. While at Northeastern University, Dr. Shepard designed and wrote original case study materials for executive and graduate executive training courses. He also authored two books; Year Round Schools (D.C. Heath) and Divorced Dads (Berkley Press) and is the author of over 25 articles and monographs that have appeared in such prestigious periodicals as The Wall Street Journal, The Christian Science Monitor, and The Chicago Tribune. Dr. Shepard is a graduate of the University of Connecticut with a Doctorate in political science.

Stephen Encarnacao, Chief Marketing Officer has held numerous high-powered marketing positions in brand and general management for Ore-Ida and Weight Watchers (H.J. Heinz Co.) where he was instrumental in doubling market share. After a successful career in packaged goods sales, marketing and consulting, Mr. Encarnacao joined Reebok Intl. as Vice President of Marketing and ultimately was promoted to Chief Marketing officer where he led the overall marketing effort for the company from less than $50MM in sales to nearly $1Billion in a three year period. He has served as an advisor to booktech.com since the Company's founding in 1995. Mr. Encarnacao holds an Honors MBA from Florida State and a Bachelors degree from University of Massachusetts.

Ted Bernhardt, Chief Financial Officer brings over 20 years experience in senior financial management in the field of publishing garnered from positions at Simon & Shuster and custom publishing at Cadmus Publishing where he served as CFO. He is graduate of Boston College with an MBA from Suffolk University.

Thomas F. Delano, Chief Business Development and Publisher Relations Officer served as Executive Editor and then Director of Marketing (School Division) at Allyn & Bacon Inc. At D.C. Heath & Company, he served as Director of the School Administration Division and later as Director of Corporate Planning/Development. Mr. Delano received his MBA degree from Northeastern University.

Ruth Anne Shepard, Chief Product Development Officer co-founded booktech.com. Mrs. Shepard began her career at Abt Associates. She subsequently joined the Network, an educational consulting company, where she managed a broad range of educational management and curriculum development client assignments. Mrs. Shepard holds an undergraduate degree from Bethany College as well as a Masters Degree in Management from Lesley College.

October Ivins, Chief Knowledge Officer brings over 20 years of library and publishing experience to booktech.com. Most recently she served as Director, Strategic Relationships at Publist.com. Ms. Ivins received a B.A. and M.L.S. from the University of North Carolina, Chapel Hill.

John Schmottlach, Chief Operations Officer began his career as part of Cornell's manufacturing option program in the School of Engineering. He participated in project work with ISO 9000 and quality system implementation at Therm, Inc. in Ithaca, NY. Prior to booktech.com he also held operations management positions at International Paper and Newark Atlantic Paperboard. Mr. Schmottlach received both his Bachelors and Masters Degrees in Operations Research and Engineering at Cornell University.

Steven Lewers, Chief Trade Book Officer is best known for building the trade Division of Houghton Mifflin into a $70 MM business. He brings over 25 years of senior management experience in the publishing industry. Most recently, Mr. Lewers served as Vice President Marketing and Strategic Planning for On Demand Machine Corporation, an on-demand publisher. Mr. Lewers received his undergraduate degree from Harvard University.

Joseph Short, Ph.D., Chief Education Officer has had a lifelong involvement with secondary, adult, international and higher education, including developing education and advocacy programs for non-governmental organizations, notably for Oxfam America, where he served as Executive Director (1977-1984). Dr. Short also served as Chairman of the Association of Independent Colleges and Universities. From 1989 to 1998 he served as president of Bradford College. Dr. Short is a frequent writer and speaker in Higher Education and African Studies. Dr. Short received his Ph.D from Columbia University.

ABOUT booktech.com

booktech.com (www.booktech.com), headquartered in Woburn, MA, is a 4 1/2 year old, digital and on-demand publisher of custom textbooks and coursepacks. It is emerging as a first mover in the emerging E-Education and knowledge management market. The Company has built a customer base of over 2,500 professors and students in some 500 American colleges and universities nationwide, ranging from Harvard University to the University of Alaska. In addition to colleges and universities, booktech.com has become an important custom publishing resource in the K-12 market with such noteworthy titles as: Breaking the Spanish Barrier, Breaking the French Barrier, Trade Routes, and Choices.

This communication may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on the beliefs of the Company and its management. When used in this document, the words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "should," and similar expressions are intended to identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions, including, but not limited to, the risk that the Company may not be able to implement its growth strategy in the intended manner, risks regarding currently unforeseen competitive pressures and technological changes. In addition, the Company's business, operations and financial condition are subject to the risks, uncertainties and assumptions which are described in the Company's reports and statements filed from time to time with the Securities and Exchange Commission. Should one or more of those risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein.