IE-ENGINE SELECTED AS RED HERRING 100 FINALIS

Red Herring 100 winners to be announced in May

Waltham, Mass. April 19, 2005 IE-Engine Inc., the leading provider of Human Resource Cost Management (HRCM) technology enabled services, has been named one of the two hundred Finalists for the Red Herring Private Companies of North America award program. Over nine hundred nominations were submitted for consideration. The Red Herring 100 Winners will be unveiled at the Red Herring Spring 2005 conference, May 17- 19, 2005 in Monterey, CA.

"There were many strong candidates for the Red Herring 100 list this year, so making it onto the list is quite an achievement," said Joel Dreyfuss, Editor-in-chief of Red Herring. "In the post-bubble era, North American technology companies have focused on making sure management is strong and that the business model makes sense."

"Healthcare and employee benefits continue to be one of the top concerns of US executives due to rising costs," Paul Daoust, CEO of IE-Engine. "Through technology, IE-Engine presents an effective way to better manage the benefits lifecycle from procurement to renewal, while helping to lower costs and ensure a better product. We're pleased that our strong commitment to solving this growing issue has earned us the right to be named a finalist in prestigious awards program."

The two hundred Finalists will be evaluated to determine the Red Herring 100 that embody innovation, technology and strategy. To select the finalists, the Red Herring editorial team has completed a thorough analysis of model, competitive advantage, alliances, customers, and technology for each company.

Companies selected to the Red Herring 100 award program will present their business model and technology at Red Herring Spring 2005 conference. The awards ceremony will take place during the Welcome Dinner on Ma 17th. The three-day intimate event is themed "The Dynamics of Disruptions" and will shine its light on the bus of technology, featuring keynotes and roundtable discussions. A complete overview and agenda can be found at http://www.redherring.com/rhspring05. Red Herring Spring conference is an invitation-only gathering for CEO venture capitalists, and select senior executives. To request an invitation, please contact Sean Raman at 650.428.2900 or via email at sraman@redherring.com.

About IE-Engine

IE-Engine www.ie-engine is the leading provider of Benefits Lifecycle Management. Its technologically based solutions provide visibility and collaborative information exchange throughout the planning, procurement management and communication of employee benefits. IE-Engine saves employers millions of dollars in health care benefits without sacrificing quality. Clients include some of the world's largest companies, such as Toyota, Staples, Lucent, Watson Wyatt, and Hilb, Rogal & Hobbs. Founded in 1999, IE-Engine is a privately-held comp that is headquartered in Waltham, Mass.

About Red Herring

Red Herring covers technology innovation, venture financing, and the deals that make a difference. Its award-winning journalists go deeper, providing a comprehensive, critical analysis of what's new and why it matters. Red Herring covers the business trends with insight that counts, serving today's entrepreneurs and the technology of tomorrow. Head to www.RedHerring.com for articles, newsletters, and research reports that matter. To subscribe to the Red Herring Magazine call 866.311.9582 or email redherring@neodata.com.