Richardson Lands $14 Million in New Financing to Leverage Core-Curriculum for Web-Based Platform

Richardson Lands $14 Million in New Financing to Leverage Core-Curriculum for Web-Based Platform

Philadelphia, PA — January 18, 2000 — Richardson, a leading provider of sales training solutions for Fortune 1000 clients, announced today that it has secured $14 million in new venture financing from Capital Resource Partners, a Boston-based venture capital firm.

The financing enables Richardson to continue with its global expansion, which includes the implementation of an e-learning platform, e-commerce strategy, and the further development of Richardson’s worldwide channels and product base.

The funding comes at a time when Richardson is experiencing tremendous growth. Richardson is continuing to develop its internet/intranet delivered curriculum, which is expected to be available by February 15, 2000. Richardson also recently announced an exclusive partnership with The Emily Post Institute to provide training in business etiquette.

Linda Richardson, President and Founder of Richardson said, "Capital Resource Partners is a strong strategic partner for us, committed to our e-commerce and seminar business. With their support, we will execute our strategy to become the premier global provider of sales training solutions."

Stephen Jenks, Managing Partner, Capital Resource Partners said, "The business is highly scalable as the existing training modules are adapted to an on-line model. Richardson, we believe, is poised for dramatic growth as the demand for their product expands."

About Richardson

Richardson is a leading global provider of sales, sales management and customized sales training solutions. Founded in 1989 by Linda Richardson and headquartered in Philadelphia, Richardson is credited with the movement to consultative sales training, and has authored books, such as, Stop Telling, Start Selling, Selling by Phone, and Sales Coaching: Making the Great Leap from Sales Manager to Sales Coach, published by McGraw-Hill.

For more information visit www.richardson.com.

Richardson maintains offices in New York, Philadelphia, San Francisco, St. Louis, Boston, Atlanta, Chicago, Phoenix, Austin and Miami. European headquarters is located in London with additional offices in Singapore, Brazil and Sydney, Australia.

About Capital Resource Partners

Boston-based Capital Resource Partners (CRP) is a private capital firm managing $900 million in investment capital. Focusing on the mezzanine debt market, CRP structures and completes financings for businesses whose capital needs cannot be fully met through traditional senior debt or equity financing methods. As part of its broad investment focus, CRP's investment team has also developed significant experience and interest in certain industries, including Information Services, Software, E-Commerce Support Services, Outsourced Business Services, Manufacturing, Financial Services, Healthcare Services, Consumer Products & Services, and Specialty Retail. For more information, visit: www.crp.com.