Press Releases & Coverage

Adecco Signs Agreement with SkillSoft for Business Skills
e-Learning

Three-Year Agreement Brings Business Skills Training to Approximately 4,000 Employees Across North America

NASHUA, N.H., Jul 23, 2002 /PRNewswire-FirstCall via COMTEX/ -- SkillSoft Corporation (Nasdaq: SKIL), a leading provider of e-learning courseware and ReferenceWare for business and IT professionals, today announced that Adecco (NYSE: ADO), the nation's and the world's largest staffing services company, will use SkillSoft courseware to train 4,000 North American employees in areas such as sales, management, and leadership. Adecco UK previously signed an agreement with SkillSoft for business skills training for associates throughout the United Kingdom.

The SkillSoft agreement is part of a transition from traditional training to an increasing use of e-learning," said Tom Lucas, senior vice president of human resources for Adecco. "Given that our company specializes in human resources, employee learning and development is a strategic priority. We've found that e-learning can be deployed faster than traditional training and can reach more employees. Furthermore, employees find it to be more convenient."

"Given Adecco's market leadership in human resources services, we are thrilled to be chosen again as one of the company's primary learning partners," said Chuck Moran, president and CEO of SkillSoft. "Adecco's global success underscores the importance of making consistent, quality training available to employees wherever they're located."

About Adecco

Adecco SA is a Forbes International 500 company and the global leader in HR Solutions. The Adecco network connects up to 700,000 associates with business clients each day through its network of over 30,000 employees and over 6,000 offices in 60 countries. Registered in Cheserex, Switzerland, and managed by a multinational team with expertise in markets spanning the globe, Adecco delivers an unparalleled range of flexible staffing and career resources to corporate clients and people seeking work.

Adecco SA comprises four divisions: Adecco Staffing; Ajilon Staffing & Managed Services; Career Services (Lee Hecht Harrison); and e-Recruitment (jobpilot).

These divisions offer flexible staffing solutions to a wide range of global industries and professions, including IT, engineering, automotive, banking, logistics, telecommunications, finance, accounting, administrative, legal, sales and marketing. Together they provide a wealth of services and expertise in temporary, permanent, professional and managed staffing; career counseling, training, development and outplacement; and e-recruitment (exploiting the Internet).

Adecco USA serves more than 70,000 clients a year through almost 1,500 points of sales and service in every state. With headquarters in Melville, NY, Adecco USA employs about 3,300 full-time employees and places more than 160,000 temporary associates each week.

Adecco SA is registered in Switzerland and is listed on the Swiss Exchange (ADEN / trading on Virt-x: 1213860), NYSE (ADO), Euronext Premier Marche (12819). Further information can be found at www.adecco.com.

About SkillSoft

With more than 500 corporate customers and 2.5 million licensed user seats, SkillSoft is a leading provider of comprehensive, integrated e-learning solutions for Global 2000 companies and government organizations. Customers receive comprehensive learning and performance support solutions for their workforce through SkillSoft's business skills library, comprised of more than 1,500 courses and simulations for global business markets, of which more than 650 are in U.S. English. The library, which includes more than 4,000 hours of interactive instruction, encompasses a wide array of business skills, such as management, leadership, communication, project management and customer service, as well as business subjects such as e-commerce, finance, marketing, sales, and strategy. The library also includes more than 12,000 learning objects, 3,000 job aids, 3,500 SkillBriefs.

SkillSoft complements SkillSoft courses with SkillSimulations, Web-based simulations designed to reinforce skills newly acquired through specific courses. SkillSoft courses can be managed and tracked through SkillPort, an e-learning management platform that offers rapid implementation at a cost- efficient price point, or through third-party learning management systems.

SkillSoft's subsidiary, Books 24x7, offers subscription clients detailed online searches to more than 2,000 unabridged IT and business titles and 300,000 knowledge objects. Books24x7's patent-pending technology platform gives users the ability to perform multi-tier searches of the company's ReferenceWare: ITPro, BusinessPro and OfficeEssentials. The Books 24x7 Referencware libraries include offerings from more than 80 publishers, including AMACOM, ASTD, Harvard Business School Publishing, McGraw-Hill, Microsoft Press, and Sybex and Wiley.

For more information call SkillSoft at (603) 324-3000

SkillSoft, SkillPort, RolePlay, Search-and-Learn, e-Learning for the Knowledge Economy, NetUniversity, and Accelerated Path are trademarks and/or servicemarks of SkillSoft Corporation. Books24x7.com and ReferenceWare are servicemarks of Books247x.com, Inc. All brand names, trademarks, or registered trademarks are the property of their respective holders.

Safe harbor language: This release includes information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward- looking statements. Factors that could cause or contribute to such differences include competitive pressures, changes in customer demands or industry standards, adverse economic conditions, loss of key personnel, litigation and other matters disclosed under the heading "Future Operating Results'' in the Company's most recent Report on Form 10-Q filed with the Securities and Exchange Commission. The forward-looking information provided by the Company in this press release represents the Company's estimates as of July 2002. We anticipate that subsequent events and developments will cause the Company's estimates to change. However, while the Company may elect to update this forward-looking financial information at some point in the future, the Company specifically disclaims any obligation to do so. This forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this release.