ClearPoint Signs Licensing Agreement for iLabor With Significant Client and Continues to Take Action on Strategic Initiatives

Mike Traina, CEO of ClearPoint, commented, "As we had announced in our previous press releases, iLabor has the ability to attract high profile customers. The partnership with Select Staffing, which has over $1.5 billion in revenues, illustrates the ability of the iLabor network to attract both end-users of labor and providers of labor as part of its customer base."

Separately, ClearPoint also entered into a subcontracting agreement with Select Staffing. Pursuant to the agreement, Select Staffing will manage a group of client contracts including those formerly managed by ClearPoint and most recently Optos Capital.

In connection with this subcontracting agreement, ClearPoint and Optos Capital have mutually agreed to terminate the existing agreement relating to these contracts and in consideration for agreeing to terminate, ClearPoint and Optos have agreed that there will be a net termination fee for any reasonable net costs or profit incurred by Optos, if any, when winding up the operations associated with termination.

Since January of this year, ClearPoint has pursued the strategy of transferring branches and employees to franchisees, licenses and subcontracts. With the completion of the transaction with Select Staffing, ClearPoint believes that this transition has now been completed.

In consideration for entering into these transactions, ClearPoint received $900,000 cash, $300,000 deferred payment and stands to earn a further $16,800,000 based on formulas related to revenues earned by Select Staffing under the subcontract agreement and formulas also based on order throughput in iLabor.

With the cash component of the transaction and deferral of some of its sub debt maturities, management believes that this liquidity will assist ClearPoint in pursuing and growing its iLabor business.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve risks and uncertainties that could cause results or outcomes to differ materially from those expressed in the forward-looking statements. Forward-looking statements may include, without limitation, statements relating to ClearPoint's plans, strategies, objectives, expectations and intentions and are intended to be made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Some of the forward-looking statements can be identified by the use of forward-looking terms such as "believes," "expects," "may," "will," "should," "could," "seek," "intends," "plans," "estimates," "anticipates" or other comparable terms. The risks and uncertainties discussed in the section "Risk Factors" included in the reports filed by ClearPoint with the SEC should be considered in evaluating ClearPoint's forward-looking statements. Such risk factors could cause actual results to differ materially from those in the forward-looking statements. You should not place undue reliance on ClearPoint's forward-looking statements. There can be no assurances regarding the amount of the termination fee payable to Optos, satisfaction of the revenue targets to be earned by Select Staffing, receipt of any future payments pursuant to the agreements with Select Staffing or ClearPoint's completion of its transition strategy using franchises, licenses and subcontracts. Further, any forward-looking statement speaks only as of the date on which it is made, and ClearPoint undertakes no obligation to update or revise any forward-looking statements.

About ClearPoint

ClearPoint Business Resources, Inc. is a leading Workforce Management Solutions provider to clients ranging from small businesses to Fortune 500 companies. ClearPoint's iLabor network is a proprietary technology-based platform that provides its clients a comprehensive web-based portal to streamline the process involved in procurement and management of temporary labor. Orders placed by ClearPoint's customers are fulfilled through a network of ClearPoint-approved staffing vendors. The iLabor platform provides a virtual marketplace for the electronic procurement ("e-procurement") of temporary labor and provides the client with one contract and one contact point to order temporary labor on a national scale. iLabor is an on-demand e-procurement solution that is hosted by ClearPoint which eliminates the need for clients to install and maintain costly hardware and software applications. The client can access iLabor through standard Internet connections and web browsers, and is assigned access codes and account information which eliminates the need for time consuming and costly systems integrations. The iLabor platform provides real time feedback on all posted positions and provides a centralized reporting mechanism for clients to review and monitor their spending on temporary labor on a national basis. The introduction in 2007 of iLabor has allowed the Company to position itself uniquely in the Human Capital industry. The iLabor network is a technology-based procurement method that provides a low cost and easy alternative for ClearPoint's clients, as well as traditional staffing companies in the industry, to procure temporary labor through a ClearPoint-approved staffing vendor network that has national coverage. The iLabor platform is a fully scalable product offering that can accommodate significant growth in transaction volumes for ClearPoint without significant increases to the Company's existing cost structure.

About Select Staffing

The Select Family of Staffing Companies is one of the nation's fastest-growing, full-service staffing companies. The company operates as Select StaffingSM, Select Staffing(TM), Remedy(R) Intelligent Staffing, RemX(R) Financial Staffing, RemX(R) IT Staffing, RemX(R) OfficeStaff, and other national brands. Select StaffingSM offers premier workforce management services, including recruiting and screening professional job candidates, payroll and time attendance management, on-site supervision, proactive safety programs, and specialty staffing solutions, to a wide variety of client companies, including manufacturing, industrial, clerical, administrative, accounting, finance, information technology, and professional services.

    For more information about ClearPoint, visit http://www.clear-point.com.

     Contact Information
     Mike Traina, CEO
     ClearPoint Business Resources, Inc.
     (215) 997-7710
     MTraina@clear-point.com

SOURCE ClearPoint Business Resources, Inc.

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