Commission Junction


			Commission Junction Appoints President Co-founder and CEO Lex Sisney Named Chairman of the Board SANTA BARBARA, Calif. – Jan. 08, 2002 – Commission Junction (www.cj.com), the largest pay-for-performance advertising network, today announced the appointment of Jeffrey A. Pullen as president, responsible for overall management of the company, and his election to the company's board of directors. CEO Lex Sisney will assume the role of chairman of the board. This announcement follows the successful rollout of Commission Junction's open marketplace in July 2001, establishing a visible benchmark of the quality and effectiveness of every ad in the network at converting visitors into revenue, and the company's achievement of positive operating cash flow (EBITDA) in the fourth quarter of 2001. Pullen, 46, will oversee all aspects of day-to-day operations, focusing on developing and implementing the key strategies and initiatives necessary to continue the company's growth and success as a leading provider of tools and services for the online advertising industry. He will drive the growth of the company and be central to the execution of its business model. Pullen's career has included senior executive positions in operations and finance at a variety of companies including, ChemConnect, Inc., an Internet-based marketplace that provides auction and exchange services to the chemical industry; IMX Exchange, Inc., an Internet exchange serving the wholesale mortgage industry, and Baker Petrolite Corporation, a specialty chemical company with approximately $770 million in annual revenue. Prior to that he was a partner in the Financial Advisory Services practice of Coopers & Lybrand, now part of PricewaterhouseCoopers. "Commission Junction has emerged as a clear leader in its space. At a time when many Internet companies are struggling or disappearing, Commission Junction's significant progress and positive EBITDA are incredible achievements," said Rich Mueller, outgoing board chairman who will retain a seat on the board as a director. "Lex has been the driving force behind Commission Junction's impressive growth. It's a logical step for him to move from managing the company full-time, to focusing his industry expertise on its future. The board has tremendous confidence in Jeff 's leadership and operational expertise, resulting in our decision to place in him this key role." "I am extremely excited about the opportunity to lead an organization with such a bright future," said Pullen. "We have clear vision,a strong balance sheet, a great team, and a broad range of loyal and satisfied customers. I'm looking forward to building on this foundation and ensuring the company's continued success." "Since joining Commission Junction last year, Jeff has demonstrated tremendous insight regarding the many facets of our business. His leadership and 25 years of experience consulting with and managing growing companies will be instrumental in expanding and advancing Commission Junction's position in the marketplace," said Sisney. "Having achieved positive operating cash flow in the fourth quarter, I am looking forward to working with Jeff as he manages this rapidly growing company." As chairman of the board, Sisney will focus his industry background and knowledge on long-term strategic planning, enterprise sales, and business development for the company. About Commission Junction Commission Junction delivers advanced performance-based online marketing solutions that facilitate strategic relationships between advertisers and publishers, driving accountable results for each client. By publishing performance metrics on advertisers, publishers, and ads within its network and leveraging its own expertise in online marketing through service, education and promotion, Commission Junction creates an open marketplace of low risk and high reward for its clients. The company serves billions of impressions monthly, ranking it among the largest ad networks in the world. Clients include leading online marketers eBay, MSN®, and USA TODAY. Commission Junction is headquartered in Santa Barbara, Calif., with offices in San Francisco, New York and London.



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