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Press release:

BaseCamp Ventures Closes $4 Million Funding Round with ExpertPlan

Issued by: ExpertPlan

Date: Oct. 16, 2001

MT. LAUREL, NJ (October 16, 2001) – BaseCamp Ventures, a premier early-stage venture capital firm, today announced the closing of a $4 million investment in ExpertPlan, Inc. – $2 million of which will be funded immediately. ExpertPlan is a leading Internet-based provider of retirement plan administration to financial institutions, which in turn sell 401(k) plans to employers. The investment was led by BaseCamp and also included funding from Seacap Ventures, Gamma Investors, Meridian Venture Partners and Paddington Venture Capital.
ExpertPlan utilizes the Internet and proprietary technology to offer turnkey retirement plan solutions that incorporate scalable, online set-up, record keeping and transaction management services. This enables financial professionals to offer plans to their small- and mid-size clients that have all the features and benefits traditionally available only to large corporations.
ExpertPlan provides financial professionals a variety of tools to profitably address the e-401(k), which a March 2001 TowerGroup study cites as having the potential of attaining $2 trillion in assets by 2005. Some of these tools include online proposal generation, marketing support, flexible products and a wide selection of fund families.
“We believe that ExpertPlan’s early track record, thorough knowledge of the retirement planning industry and leadership in online retirement plan product development are the foundation for a business that can be very large,” said Tom Drury, Managing Director of BaseCamp Ventures.
ExpertPlan founder and CEO Winthrop Cody (previously senior vice president and CIO of the Copeland Companies, the retirement planning subsidiary of Travelers/Citigroup) leads an experienced management team that posses vast technology, financial service, operations and marketing expertise.
“This investment will enable ExpertPlan to maximize penetration of the retirement plan market and continue in our steady growth mode,” said Cody.
The BaseCamp Ventures’ funding follows first round funding from private equity firm Bridge Partners, Baltimore, MD and San Francisco, CA., in mid-2000, and second round funding led by Paddington Venture Capital, in early 2001.

ExpertPlan www.expertplan.com is a leading Internet-based provider of retirement plan solutions, which enables financial professionals to offer high-quality, low-cost retirement plans to meet the needs of their clients. ExpertPlan's web-based "self service'' model empowers plan participants to manage their own accounts, which eliminates third-party errors, and reduces costs and the administrative burdens on the financial professional and the employer. The company has alliances with over 50 fund families, and provides services to leading financial companies across the U.S. ExpertPlan was founded in 1999 by core members of the information systems management team from one of the world's largest financial services corporations, and is located at 50 Millstone Road, Building 400, Suite 100, Cranbury, NJ 08512, 609/918-2500.

BaseCamp Ventures is an early-stage venture capital company offering start-up financing and strategic support to outstanding entrepreneurs. The Mt. Laurel, NJ based company was founded on the principle that knowledge and experienced counsel is as important an asset as capital. BaseCamp’s leaders are proven heads of technology companies who actively apply their knowledge and experience directly to organizations – challenging and improving upon brilliant ideas. BaseCamp focuses on investing in applied Internet technology and infrastructure businesses located in the Mid-Atlantic region. For additional information, please visit their web site at www.basecampventures.com

SeaCap Ventures, a venture capital company with offices in New York and Philadelphia, has completed its initial round of funding with $10 million committed. The fund invests $250,000 to $1.0 million in post-seed stage, early round financings of emerging growth companies. SeaCap targets technology companies located primarily in the mid-Atlantic region, and seeks investment opportunities where the fund’s principals can work closely with management to accelerate growth by providing value-added services. The fund’s managing partners are Steve Tuttleman and Allen B.J. Paik in New York, and Eric (Ric) Cohen in Philadelphia. For additional information please visit the SeaCap website at www.seacapventures.com

Gamma Investors is an investment partnership that conducts venture capital,
proprietary trading, and hedge fund investing activities. Gamma Investor's
private equity portfolio is primarily comprised of early and middle-stage
companies across an array of industries, but with the majority of the
companies operating in the field of financial services. Prior to the
formation of Gamma, the management team founded and built Cooper Neff &
Associates, a derivatives trading boutique, which they ultimately sold to
Banque Nationale de Paris in 1995.

Meridian Venture Partners and Meridian Venture Partners II, L.P. are private equity venture funds located in Radnor, Pennsylvania. Both are licensed as Small Business Investment Companies by the U.S. Small Business Administration. The Funds make equity investments primarily in later-stage companies and provide equity financing for growth, acquisitions and recapitalizations. The target companies represent diverse industries, including publishing, media, specialty retailing, distribution, manufacturing, life sciences, and computer software and related services. The Funds are managed by Robert E. Brown, Jr., Thomas A. Penn, and Joseph A. Hawke. For additional information please visit the Meridian Venture’s website at www.meridian-venture.com.

# # #
Lisa Rhodes
For ExpertPlan
PR Director of Atlantic Group

Brian Farber
BaseCamp Ventures 856-793-9300; x2223

For more information: http://www.expertplan.com

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